It's the Spending, Stupid

Liberal Democrats have failed to heed the lessons of economic history, and it's killing our economy. In the 1980s, they blamed President Reagan's tax cuts for fueling deficits, when, to the contrary, Reagan's tax cuts had a tremendous stimulative effect, and his deficits were fueled by recession and spending. In fact, that's the lesson of the long history of this country, and particularly since LBJ's Great Society: deficits have been caused not by a lack of taxes but by recession and, most of all, by excessive spending. The failure to learn that lesson is again on painful display, as President Obama and liberals/progressives traverse the country pointing the finger at the evil rich for not forking over enough income. Apparently, the 36% rate paid by the wealthiest Americans is somehow robbing the poorest Americans, whose federal income-tax rate is 0%; something you'd never know from Democrats' shameless class-warfare demagoguery. Because I comment on this topic so frequently, I'm...(Read Full Article)