Wednesday, July 27, 2011

NYT on taxation levels

As if to prove what I was saying a few days ago – that low taxation is in fact the main cause of US debt and that raising the peak tax rate is the quickest and easiest way to solve the problem – the New York Times has produced a chart showing how the debt has come about over the past two presidents.

I was not aware that Obama's stimulus package does not even make up half the value of Bush's tax cuts for the rich, and that Bush's tax cuts actually even exceed what was spent on the wars in Iraq and Afghanistan.

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