George Bush Sr. Debunks GOP Fallacy That Tax Cuts Do Not Increase Deficit #p2 #tcot #teaparty

All evidence necessary to debunk Republican leadership lies to the American citizens that tax cuts generate revenues and activities to mitigate tax cut effect on increasing the deficit is readily available on the Internet generated from actual public data. Back in the 1980 election, George Bush Sr. referred to Reagan’s economic policy as voodoo economics. He was correct and the results he predicted were realized. Reagan ha the largest percentage increase in our national debt than any other president since World War II.

That most of the mainstream media do not forcefully refute the misinformation that these guy spew on TV and radio is one of the reasons that Americans remain ignorant to our fiscal realities because they genuinely believe the information they are hearing is basically accurate or at least debatable.

The reality: Tax cuts do not reduce deficits or generate increase economic activity. It is the Keynesian effect that gives the semblance of tax cuts increasing economic activity, given that inasmuch as we cut taxes, spending is not curtailed to offset the tax cuts and as such, generated a stimulus (deficit spending).

The Rachel Maddow piece below on tax cuts and Republican Party talking points is informative.It would be funny if it did not have such a material impact on all of our lives.