Myth: Reduced tax rates on those earning over $200,000 caused deficits. The establishment politicians and commentators who make this claim expect you to conclude that the rich paid less income tax after the Bush tax tax rate reductions than before.   This chart, showing the most recent figures available from the IRS tells the truth. As […]

House Speaker Nancy Pelosi was asked about the future of the Bush tax cuts of 2003. Those tax cuts are scheduled to expire at the end of 2010.  If Congress doesn’t act tax rates will increase substantially in 2011.  Ms. Pelosi’s answer echoed the political-media establishment.  She wants to extend the tax cuts for lower […]

After deliberately, adding more than $2 Trillion to the federal debt in his first 18 months in office the President and the Democrats are beginning to feel a sense of foreboding. They have suddenly pivoted from profligate spending to seeking ways to wrench more money out of the private sector into the government till. The […]