More Pelosi

Here's a lovely piece from San Fran Nan from January of this year... the face and sound of the inherent contradiction in the liberal mind. She blames deficits during the Bush years on the 2003 tax cuts... I guess she forgot to look at the data (what liberal ever does? It just gets in the way of their perception of the world as they would have it.)

Deficits are created when spending exceeds income (slow me down if this is too much "Inside Baseball" stuff). So, when Congress goes on a spending spree during the Bush years, the reason for the deficit has NOTHING to do with spending, soooo, it must have been those Bad Bush Tax Cuts.

But what kind of "take" did the Feds grab in terms of taxes following the Bush tax cuts? Well, according to the IRS' "SOI Tax Stats - Internal Revenue Collections and Refunds...Table I" between 2003 and 2007, Federal receipts (corporate income taxes, individual income taxes, employment taxes [OASDHI, FICA, SEICA, etc], Estate and gift taxes and excise taxes) increased by 45% from a post-9/11 low of $1.65 trillion in FY03 to $2.40 trillion in FY07.

So, imagine in 2003 you found yourself making $85K... four years later, you were making $124K...but were up to your arse in debt. Income problem or a spending problem? Exactly. Put the credit card away and start minding your ass(ets).

The deficit problem, Madame Speaker, finds its root in the amount of spending, not in the amount of tax revenue. But because this inconvenient truth contradicts the liberals view of a world that doesn't respond to incentives, liberals spin TBL ("the Big Lie") and blame tax cuts for the deficit wracked up during the 2003 - 2007 Bush years. (As an aside, don't the Bush deficits look, well, bush league, compared to a REAL spending, uhm, "investing" machine like Pelosi, Reid and Obama?)

By the way, for those of you keeping score, if you really, really, really want to soak the rich and get "them" to pay even MORE money in taxes (by creating wealth, creating jobs from which employment taxes can be generated, and growing the economy) then Washington (and states) should lower tax rates, including capital gains taxes, and make a promise not to mess with the tax code for the next two years... and then watch the gusher of cash generated as tax receipts as we grow our country out of this socialist swamp in which we have been dumped...All we ask from our government is to get the hell out of our way and stay out of our way.

Enjoy the twisted, tortured, contradiction-laced lunacy of the women two heart beats from the presidency...