Call it the refusal of “trickle-down economics” to die. Ever since Ronald Reagan introduced the idea, Republicans have clung to a very mistaken concept ― that tax cuts always pay for themselves. Though proven false again and again, this is the fallback Republican position when trying to hoodwink the American public into massive tax cuts for those at the tippy-top of the income scale. “Don’t worry,” the GOP tells the public, “these tax cuts will generate so much new growth that they will pay for themselves!” As always, the reality turns out to fall far short of this lofty goal.
Exposing the GOP’s “big lie” about tax cuts is easy ― all you have to do is look at the last time they tried it (or, for that matter, the time before that, or the time before that...) A new report by the Center on Budget and Policy Priorities (C.B.P.P.) examines exactly what happened the last time this snake oil was sold to the American public, in detail. Titled “The Legacy of the 2001 and 2003 ‘Bush’ Tax Cuts,” it clearly shows what an empty promise “tax cuts always pay for themselves” truly is.
_________________________ **** ATTENTION! BAD POLITICIANS ARE ELECTED BY GOOD PEOPLE WHO DON'T VOTE! ****