Here’s the lead editorial from today’s New York Times, lamenting all these Bush tax cuts. This in spite of the fact that the tax cuts have led to more spending and yes, even to greater tax receipts. The deficit dropped dramatically as a result, although the Times notes that they, “result in less tax revenue than is needed,” whatever they heck that means. They resulted in more tax revenue. Isn’t that enough?
Also, as any high school civics student can tell you, there are actually two sides to the budget: taxes and spending. In pursuit of a balanced budget, you can increase one or decrease the other. But once again, the Gray Lady refuses to acknowledge the spending side, seeing only one solution to curing the deficit.
The tax cuts should be extended and the Times ought to go back to school.
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