jonny5
DP Veteran
- Joined
- Mar 4, 2012
- Messages
- 27,581
- Reaction score
- 4,664
- Location
- Republic of Florida
- Gender
- Male
- Political Leaning
- Libertarian
Those who point to Bush's tax-cuts and conclude they were causal to higher revenue are fooling themselves. If we look at those government revenue (adjusting for inflation and population growth) after the tax-cuts, which occurred in 2001 and 2003, what do we see? Revenue dropped after each of the tax-cuts.
Even after the housing bubble started (post 2004,) the revenue never recovered to pre-tax-cut levels. Then after the housing bubble broke revenue declined greatly.
That chart is per capita revenue. Actual revenue increased from 2 trillion to 2.5 trillion prior to the recession.