Tax Revenues Lower Deficit by $100 Billion

$100,000,000,000 (One Hundred Billion Dollars) is a One followed by Eleven zeros. That is not chump change at all. It is an amount that even Dr. Evil would respect. The US Deficit was reduced by $100,000,000,000 dollars from tax revenue collected. It would appear that the “Tax Cuts for the Rich” seem to be working.

The left decries that cutting taxes only lead to higher deficits, and deeper debt. They claim that it only benefits the rich. But when the rich have more money, they invest it in businesses, creating more jobs, and in turn those new employees have money to spend, creating more tax revenue. It is basic economics.

Rich people are smart or they would not be rich. Smart people do not sit on their money, hording it away like a dragon of fairy tales. Smart people let their money work for them, by upgrading equipment or facilities, by hiring new employees, by investing in new ventures. Even if they by boats and cars, that too helps the economy as someone has to build and sell that product as well as have it advertised. All of this activity requires money changing hands and taxes being paid. The more money that moves means more taxes collected.

It is a fact that every time taxes were cut, from the Kennedy Administration to the Reagan Years to these Bush cuts, it stimulates the economy. Every time it has been tried, it has worked.