Why Tax Cut Critics Got It Wrong
Posted: Tue Dec 30, 2003 3:11 pm
A little Common Sense by Neil Cavuto:
To all those who said tax cuts wouldn't work in this country, take a look at this country.
Take a look at all the improving economic data in this country.
Take a look at Americans. They're spending more.
Take a look at their bosses. They're buying more.
They're doing more, because they're keeping more of their money.
Government programs didn't do that. Tax cuts did that. Because contrary to critics at the time, the tax cuts didn't wreck the economy. They boosted the economy. Big time.
When people have more of their money, they spend more of their money.
It's why retail sales are up. Why car sales are strong. And why even jobs are coming back.
When people buy things, the companies that make the things need to make more of those things. Then they need more people to make more of those things. About 328,000 more people, to be exact. That's how many jobs have been added to the economy in just the last four months.
Bureaucrats didn't get that ball rolling. We did, with our money, our dreams and our hopes.
You can't tax your way out of a recession. But you can tax-cut your way into a recovery. That's what we're doing now, because of the tax cuts we're still enjoying now.
Those who opposed these cuts said that wouldn't happen. They said that the economy wouldn't budge and that people wouldn't spend.
Well, the economy is budging and people are spending.
And do you want to know the kicker? Even Uncle Sam is getting more money.
Revenue projections to the federal government were revised up Friday. That's right, up.
And all because the economy's improving more and people are buying more and working more, so the money is trickling in more.
It’s proof, Washington, that when you keep your grubby paws out of our pockets, we're so damn decent, we'll put money back in yours!
Go figure.
Watch Neil Cavuto's Common Sense weekdays at 4 p.m. ET on Your World with Cavuto. (FOX NEWS)
To all those who said tax cuts wouldn't work in this country, take a look at this country.
Take a look at all the improving economic data in this country.
Take a look at Americans. They're spending more.
Take a look at their bosses. They're buying more.
They're doing more, because they're keeping more of their money.
Government programs didn't do that. Tax cuts did that. Because contrary to critics at the time, the tax cuts didn't wreck the economy. They boosted the economy. Big time.
When people have more of their money, they spend more of their money.
It's why retail sales are up. Why car sales are strong. And why even jobs are coming back.
When people buy things, the companies that make the things need to make more of those things. Then they need more people to make more of those things. About 328,000 more people, to be exact. That's how many jobs have been added to the economy in just the last four months.
Bureaucrats didn't get that ball rolling. We did, with our money, our dreams and our hopes.
You can't tax your way out of a recession. But you can tax-cut your way into a recovery. That's what we're doing now, because of the tax cuts we're still enjoying now.
Those who opposed these cuts said that wouldn't happen. They said that the economy wouldn't budge and that people wouldn't spend.
Well, the economy is budging and people are spending.
And do you want to know the kicker? Even Uncle Sam is getting more money.
Revenue projections to the federal government were revised up Friday. That's right, up.
And all because the economy's improving more and people are buying more and working more, so the money is trickling in more.
It’s proof, Washington, that when you keep your grubby paws out of our pockets, we're so damn decent, we'll put money back in yours!
Go figure.
Watch Neil Cavuto's Common Sense weekdays at 4 p.m. ET on Your World with Cavuto. (FOX NEWS)
