Tuesday, November 28, 2006

When Are Tax Cuts Not Really Tax Cuts?

Republicans love to talk about Bush's tax cuts, and how they've jump started the economy. Besides the obvious point that the economy is only really improving for those at the top, they overlook one very critical fact. Bush's tax cuts aren't really tax cuts at all, because Republicans have borrowed all the money to pay for them. At best they can be described as tax deferments, and actually they're deferred tax increases because all that borrowed money will have to be paid back with interest.

Classical Republican economics.

(Based on an idea from this post at Lawyers, Guns and Money)

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