Saturday, May 19, 2007

Heelllloooo Oooouuuutttt Thhhheeerrreeee.......

Is anybody out there even taking notice of our record setting stock markets? This news story definitely doesn't seem to be getting the attention that it deserves:

"The Dow Jones industrial average registered its 24th record close this year and the Standard & Poor's 500 index came within striking distance of its record high."

And the current Congress is trying their best to rescind the Bush tax cuts.


Tax cuts - they work every time they're tried. According to Ed Morrisey:

"The tax cuts sparked an economic expansion that continues to this day, one which has increased revenues to the federal government by 22% since their full implementation. The lower rates improved capital investment in the economy, created jobs and lowered unemployment to 4.5%, and expanded prosperity.

What has been the Democratic response? Not only to raise taxes back to the pre-expansion level, but to add even more federal spending on top of it. It envisions a 5% increase over FY 2007 spending just to start. That's the largest single-year increase since 2002, and it comes on the compounded increases of 3-4% year-on-year of the Republican Congresses of the Bush term. It represents a whopping 40% increase from FY 2000, when the budget came in at $2.1 trillion.

The current Congressional leadership doesn't want people to think that they're raising taxes. If not, where do they expect to get the money for the federal budget expansion? They will take capital out of the marketplace, where it creates and maintains jobs and production, and stick it into a federal system which burdens both -- creating an even greater need for federal spending on entitlements and welfare.

This budget shows that while Republicans spent like drunken sailors, they managed to avoid picking pockets like Fagan's ring of young thieves while doing so. The Democrats want to give us both."

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