Well, at least George W. Bush is able to grasp one main facet of Conservatism.
Washington Post Online - Bush Signs $70B Tax-Cut Package
It doesn't stop a Liberal hack like Chuck Schumer from lying through his teeth about it, though:
"If you want to look at why the Republican Party is down in the dumps and why the president's numbers are down in the dumps," Sen. Charles Schumer (D-N.Y.) said this afternoon, "it's that the American people are beginning to understand that when they talk about tax cuts, they're not talking about helping middle-class people. They're talking about helping the wealthiest corporations and individuals among us."
What the Senior Senator from the Empire State doesn't tell you is that tax cuts spur economic growth whenever they're enacted. Revenues to the Treasury increase each and every time tax cuts have happened. It was true when JFK enacted a tax cut in the 60's. It was true when Reagan cut taxes in the 80's. It's true now.
Oh, and in fact, Senator Schumer, the burden of "the wealthy" has gone up:
The bill extends for two years the 15 percent tax rate for dividends and capital gains, which was due to expire at the end of 2008. It extends through 2006 changes to the alternative minimum tax, which were designed to increase the tax burden of wealthy Americans but has also struck upper-middle income families. And it extends through 2009 a tax cut that gives small businesses a write off -- up to $100,000 -- for equipment and other depreciable assets.
I'm certainly not wealthy, and I got a tax cut. So did my sisters and their families. Schumer's notion that tax cuts only benefit corporations and the rich is patently absurd. This really is tax relief for all Americans, and it's good news.
Now if George W. Bush could only figure out how not to spend like a drunken sailor in port with a fistful of twenties.
William Smith
ConservativeBlogger.com
