Saturday, July 29, 2006

The supply-side solution

Best idea ever:

"Some in Washington say we had to choose between cutting taxes and cutting the deficit," President Bush said in a brief appearance at the White House to highlight the new estimates. "Today's numbers show that that was a false choice. The economic growth fueled by tax relief has helped send our tax revenues soaring."

The Republican leadership in Washington decided this week that, as a last-ditch effort to stop the deficit from spiralling out of control, it would eliminate taxes entirely.

"We've seen that tax revenues increase whenever we cut taxes," said Rep. James Sensenbrenner. "It only recently occurred to us that if we got rid of them altogether, we'd end up with a surplus."...

Tax relief evangelist Grover Norquist was more sanguine, however. "I now understand that we'll hardly be able to drown government in the bathtub if we cut taxes. After the enormous flood of revenue that comes in, government will, sadly, be bigger than ever."
Makes sense to me.

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