Townhall Finance – Whenever Republicans – or anyone else – propose a tax cut, Democrats run to the nearest microphone in horror crying about all the revenue it will “cost” the federal government. Panicked Pols will foretell of massive firings of teachers and policeman, children will starve because school lunches will disappear, and condoms and birth control pills will vanish from Planned Parenthood stock rooms.
Such is the case in these waning days of the 2012 presidential campaign as Barack Obama and Joe Biden rail against the Romney-Ryan plan to lower the tax burden on Americans. It’s not just that Mitt and Paul believe everybody in America could use some relief. They also know that history has proven time and again that lower tax rates are a proven stimulus for increased economic activity which produces more, not less, revenue for the US Treasury as the following chart demonstrates.
Reprinted from IBD: October 18, 2012
Not only do Obama and Biden deny historical fact with their opposition to Romney’s plan, they pretend that restoration of economic vitality is somehow just one more big tax increase away. Their plan – already rejected by even by many Democrats in Congress, by the way – would raise taxes for the handful of folks at the top of the income ladder; many of which are small business owners.0 Recommend This