Further to yesterday’s post on the man who would be Chair of the Ways & Means Committee, we just want to point out that the reasons we care about tax cuts is because they lead to investment. In fact, they led us out of the last recession. Manufacturers take this money and plow it back into the company. That’s good for manufacturing, good for America.
And, no sooner had Rep. Rangel opined about deep-six’ing the tax cuts than the Treasury Department announced not only the highest tax receipts for a quarter but also the highest for a single day — namely last Friday, some $85.8 billion. As a result, the federal budget deficit will shrink in 2006 and 2007.
Tax cuts lead to investment, investment leads to growth, growth leads to jobs, jobs lead to prosperity.
This is a good thing, no?
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