Deficit fraud ConservaDem Senator Kent Conrad Loves the Bush Tax Cuts

Deficit fraud ConservaDem Senator Kent Conrad said in an interview with reporters outside the Senate chambers this week that he is supporting extending the Bush tax cuts for the wealthy without paying for them. President Barack Obama and most Democrats allies support extending the lower rates for individuals earning less than $200,000 or couples making less than $250,000, but raising taxes on millionaires and billionaires modestly back to the level where they were during the Clinton administration, which produced a budget surplus. Although Republicans and conservadems keep promoting the magical thinking idea that when you cut taxes on rich people it magically causes more money to come into federal coffers, experience proves otherwise. Reagan cut taxes on millionaires and billionaires from over seventy percent to around thirty percent and more than tripled the federal debt from under a trillion - where it had been in real dollars for about two hundred years - to nearly three trillion dollars. Clinton raised taxes on the rich, without a single republican vote, and both balanced the budget and produced the first surplus in years. Bush came into office with Clinton's surplus, immediately cut taxes back to and drove a five trillion dollar deficit to over ten trillion. Never ever in history has this magical thinking enbraced by Kent Conrad conservaDems and republicans been shown to actually work but they continue to promote it like children waiting for the Easter bunny.

Popular blog posts

No blog posts. You can add one!

ADHD: Hunter in a Farmer's World

Thom Hartmann has written a dozen books covering ADD / ADHD - Attention Deficit Hyperactive Disorder.

Join Thom for his new twice-weekly email newsletters on ADHD, whether it affects you or a member of your family.

Thom's Blog Is On the Move

Hello All

Thom's blog in this space and moving to a new home.

Please follow us across to - this will be the only place going forward to read Thom's blog posts and articles.