"Deficits aren't an accident; they don't happen due to a sudden shortfall in revenue or a series of unexpected expenses. Increased government spending is what causes the deficit to grow, not tax rate cuts. As a matter of fact, the opposite is true. History shows us that reducing marginal tax rate leads to greater economic expansion and more tax revenue. Further proof of Leonhardt's (
New York Times, David Leonhardt) faulty reasoning is provided by the fact that while there have been no tax cuts in the last 8 years, only tax increases, government debt grew by nearly 10 trillion dollars. Tax cuts did not produce the 10 trillion dollars of additional debt.
Deficit spending plans were the culprit."
If Tax Cuts Cause "Deficits," How Does The Left Explain the Obama Years? | RealClearMarkets