They were wrong again

For the last several years we've heard from very rich Democrats (Hillary, Ted, John Edwards and Kerry) about how the Republicans are ripping us off and sending our government into an economic tailspin by cutting taxes across the board. As has been mentioned here several times, I've seen my federal taxes go down, so I don't care how much others' taxes go down, just make sure mine don't go back up!

Here's the other part of the story. In an article today from the Associated Press, it was announced that the projected federal deficit is going to be even lower than originally predicted. With just over a month and a half to go in the fiscal year, it seems that the deficit will end up somewhere near the $150 billion mark. While that is a truly unfathomable number to me, it is significantly lower than the $239.6 billion deficit of last year. Heading in the right direction, eh?

The REALLY interesting part is the revenue figures. This is the amount of money the federal government takes in.....FROM TAXES. Given the fact that Bush and the GOP cut taxes, given that the economy hasn't been the greatest, and given the fact that we hear how we aren't really better off than the glory days (?) of the Clinton era, you would expect that the government's revenue has fallen, right? Well guess what, so far this year, the US government has received $2.12 trillion, a new all-time record income!!!

That's right, just as every other time in history, any time a government reduces tax rates, the government's income GOES UP. It happens because people spend more money and lift the general standard of living when the percentage of their hard earned money going to the government drops. People who make more money don't mind paying more taxes as long as the percentage paid remains even.

So why do we still have a deficit when the government is pulling in record income? You would have to ask the Democratically-controlled Congress because not only did revenue reach a record, these fiscally-responsible watchdogs in the Democratic House and Senate (who regularly tell us that the Republicans are cutting funds to those who need it) have spent a RECORD $2.27 trillion so far this year. The leading spender, NOT the military, but the Department of Health and Human Services at $1.7 trillion so far. The military is number 2 at $437 billion.

Thoughts anyone?