{"id":1856,"date":"2010-05-07T12:45:18","date_gmt":"2010-05-07T12:45:18","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=1856"},"modified":"2010-05-07T12:45:18","modified_gmt":"2010-05-07T12:45:18","slug":"but_thats_not_really_what_i_sa","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=1856","title":{"rendered":"But That&#8217;s Not Really What I Said"},"content":{"rendered":"<p>It is little bit ironic to see the Democrats in Congress talking about extending the Bush tax cuts before the August recess (read before the November election).&nbsp; <a href=\"http:\/\/thehill.com\/blogs\/on-the-money\/domestic-taxes\/96613-rep-levin-wants-action-on-bush-tax-cuts-by-august\">The Hill<\/a>&nbsp;today reported that Ways and Means Committee Chairman Sandy Levin (D-Mich.) would like to extend some of the Bush tax cuts before the August recess.&nbsp; These were the tax cuts that the Democrats continually labeled &#8220;tax cuts for the rich.&#8221;&nbsp; Well, at some point the Democrats have had an Epiphany and realized that a large part of those &#8220;tax cuts for the rich&#8221; were actually for the middle class.&nbsp; If those tax cuts expire, almost everyone&#8217;s taxes will go up and the voters might actually notice that.&nbsp; Whoops.&nbsp; Please take a look at the chart below.<\/p>\n<p><a href=\"http:\/\/www.heritage.org\/Research\/Reports\/2004\/06\/~\/media\/Images\/Reports\/2004\/bg1765\/figure11.ashx\"><img loading=\"lazy\" decoding=\"async\" style=\"WIDTH: 497px; HEIGHT: 599px\" alt=\"Top Capital Gains Tax Rate and Inflation-Adjusted Federal Revenue\" src=\"http:\/\/www.heritage.org\/Research\/Reports\/2004\/06\/~\/media\/Images\/Reports\/2010\/bg1765\/bg1765figure3sm.ashx?w=571&amp;h=599&amp;as=1\" width=\"571\" height=\"599\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>This picture, from the webite of <a href=\"http:\/\/www.heritage.org\/Research\/Reports\/2004\/06\/The-Laffer-Curve-Past-Present-and-Future\">Heritage.org<\/a>&nbsp;illustrates the Laffer Curve.&nbsp; Simply put, the Laffer Curve illustrates the fact that when you lower taxes, revenue goes up.&nbsp; Our problem is not that our taxes are too low; our problem is that we are spending too much.<\/p>\n<p>At any rate, it will be interesting to see what Congress does with the &#8220;tax cuts for the rich.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is little bit ironic to see the Democrats in Congress talking about extending the Bush tax cuts before the August recess (read before the November election).&nbsp; The Hill&nbsp;today reported that Ways and Means Committee Chairman Sandy Levin (D-Mich.) would &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=1856\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1856","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/1856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1856"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/1856\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}