Purpose of Think America Think
In a democratic society it is the responsibility of the voter to be knowledgeable of the issues of the day and to the information relevant to those issues. Unfortunately, today in the United States today, a significant percentage of the voters might be aware of the issues but are lacking in the relevant information. Also, unfortunately, a significant portion of the voters look to the national media to provide them with the relevant information. However, in my opinion, the national media, through either stupidity, ignorance, and/or deceit have failed miserably to provide objective, balanced information relative to the issues of the day.
It is the intent of Think America, Think to present information relative to the issues of the day and pose pertinent questions that will cause voters to think about the issues.
The common belief, fostered by the national media, it that cutting taxes decreases revenue to the US Treasury and produces deficits when actually the opposite is true. Historically, cutting taxes has increased revenue to the US Treasury. What then, you ask, created the deficits of the late eighties and even today. The answer is spending. Think of your personal budget. If you increase your income but at the same time increase you spending, what happens? You break even or even go into the red if you increase spending more that the increase in income.
Here is some data to consider:
From 1920 to 2010 there have been 4 major tax cut.
- In 1920 Coolidge cut the marginal tax rates from 73% to 24%. From 1920 to 1929 the Revenues to the US Treasury increased 61%, from $719 million to $1.1 billion.
- President Kennedy cut the marginal tax rate from 91% to 70% and from 1961 to 1965 tax revenue to the US Treasury rose 62%
- President Reagan cut the marginal tax rate from 70% to 28% and the tax revenue to the US Treasury more than doubled increasing from $500 billion in 1980 to $1.1 trillion in 1990
- President Bush cut taxes in 2001 and 2003 and the tax revenue went up either 44% ($1.782 trillion in 2003 to $2.568 trillion in 2007) or 47% ($793.7 billion in 2003 to $1.16 trillion in 2007) depending on whose numbers you believe
The point is tax revenues increased as a result of tax cuts. The subsequent deficits were due to increased spending and not the tax cuts
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