2006: “An unexpectedly steep rise in tax revenues from corporations and the wealthy
I thank the origional poster who posted the following facts..................
“Economic Report of the President” for 2012, on page 411. look it up.
What statistical tables in Obama's own “Economic Report of the President” show is that (1) tax revenues went up — not down — after tax rates were cut during the Bush administration, and (2) the budget deficit declined, year after year, after the cut in tax rates that have been blamed by Obama for increasing the deficit.
The New York Times reported in 2006: “An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year.”
Only libs think tax cuts lead to lower revenue. And Obama knows your type are idiots, so he repeats it over and over and you believe it, even though he know's it's not true and admitted just that in 08.
I voted for W in 2000 & again 2004. The 1st time because I vote Republican. The 2nd time because I thought that Jr has learnt his lesson about the war and its cost in lives, wealth and American Goodwill. I was wrong twice.
All of the "steep rise in tax revenue" in 2006 was wiped out when millions of tax paying citizens lost their jobs and thousands of companies folded in 2008; while W was still in the office. So; crediting W or blaming BHO will not do us any good.
Blame the bankers whom manipulated the supply of money and hence almost destroyed the global economy. Oddly; we were saved by a communist country in China.
Remember that the Dems captured control of both houses of Congress in the 2006 elections, and Nancy Pelosi and Harry Reid made it clear that Republicans weren't welcome to participate in the deliberations of either house when they held their first press conferences of the new Congress in early 2007. It was a Progressive Democratic Congress acting without Republican input that was responsible for the legislation that pushed the country over the edge in 2008.