Sometimes I think fiberals stay up nights trying to figure out how to sound as stupid as possible. Case in point: This year’s predicted deficit of $150 to $200-billion, which will be almost $50 billion dollars less than this year’s original estimate of $248-billion. This is down from the $450-billion estimate not more than a couple of years ago. It also takes into account the war on terror and housing slowdown.
Jim Horney, director of federal fiscal policy at the Center on Budget and Policy Priorities, a liberal think tank, of course doesn’t give Bush’s tax cuts any credit for bringing the deficit down. As a matter of fact “HORNEY” (an appropriate name linked as he is with Bill Clinton) said: “Without the costs of the tax cuts enacted since 2001, the budget would be balanced this year." (thanks to Marketwatch.com)
Horney makes a huge leap of illogic and assumes that the economy would expand as is has, even if taxes were substantially raised over the last 4 years. He ought to read what John Kennedy thought about that concept.
Senator Robert Packwood R-Oregon once asked the Congressional Budget Office to determine how long it would take to pay off the national debt if the federal government had the top 10% of all tax payers pay 100% of their yearly income. The CBO dutifully reported back that it would take about 5 years. Then Senator Packwood asked the supposedly brilliant accountants at the CBO. Then please explain, he said, “If the government takes 100% of your income the first year, what is the incentive for you to have any income in the second, third, fourth and fifth years.”
That is precisely how stupid Horney’s comment sounds. If you want to reduce an activity - tax it. To encourage an activity - reduce taxes on it. Improving income is an activity we all pursue. But that is the thinking of a fiberal. Stupid, Stupid, Stupid. If you take away more of a person’s income as it increases, you have to assume that the person will NOT continue the activity especially when he does not benefit from that activity. That is not just stupid, that is insanity. What do they say about insanity: Doing the same thing over and over and expect different results each time.