Whenever Obama talks about paying for tax cuts, he means, but does not say, raising taxes on someone else.

It never occurs to him, nor does he say, that the tax cuts can pay for themselves through increased economic growth and higher employment as can seen by the following.......

In his first year in office, Bush pushed through an across-the-board income tax cut agenda that would be phased in over several years. But as the recession worsened, unemployment rose from 4.7%—
to 5.8% in 2002 ….
to 6% in 2003.

Federal tax revenues fell ….
to $1.99 trillion in 2001,
to $1.85 trillion in 2002,
to $1.78 trillion in 2003.

Deciding that the economy needed a faster booster shot, Congress accelerated the Bush tax cuts in 2003, and the nation’s economy responded.

Contrary to Obama’s anti-tax cut, zero-sum ideology, federal tax revenues didn’t fall as a result of Bush’s across-the-board tax rate cuts that affected every income bracket....they rose to the following:

Federal tax revenues rose to
—$1.88 trillion in 2004

—$ 2.15 trillion in 2005

—$ 2.4 trillion in 2006

—$ 2.6 trillion in 2007.

In other words, tax revenues rose by more than $800 billion in just four years by cutting tax rates and boosting economic growth that pushed the Dow to a record 14,164 points on Oct. 9, 2007.

Unemployment fell sharply as the economy expanded,
dropping to 5.55 in 2004,
5.1% in 2005,
4.6% in 2006 and 2007.

This also helped reduce Bush’s soaring budget deficits. They rose substantially during the first half of his presidency as a result of the 9/11 terrorist attacks and the deepening recession, but as federal tax revenues increased, the yearly deficits began to shrink, falling to a modest $161 billion in 2007—a record that Obama can only dream about.

To be sure, there are many other factors in measuring Bush’s fiscal record, including levels of spending that could have and should have been cut down to size.

obama is an absolute disaster as President and he has beat out jimmy carter to become the worst President in my lifetime.


http://www.humanevents.com/article.php?id=43192