I'm disappointed by the lack of FISCAL conservatism in the party since Reagan. People who rely solely on Fox News (uninformed people) believe that tax cuts increase revenue. This lie is often supported by the demagogue, Sean Hannity, who commonly points out that revenue grew when taxes were cut in the early 80's. The truth is that ECONOMIC GROWTH used to DOUBLE federal revenue every ten years before Reagan. Then 1980 to 1990, it didn't double for the first time because of the tax cuts. Federal spending did double in that period, however, just like Reagan promised to explode spending. In 1980, our interest payments on the national debt were very small. Currently, the nation is forced to pay hundreds of billions of dollars every year in interest. Thank you Republicans and Obama! Although it depends on your tax bill, you likely paid WELL over $1,000 in interest that you wouldn't have if we had been smarter about borrowing. If you make a lot of money, they deducted SEVERAL thousand dollars from your pay. Paying hundreds of billions of dollars is a shockingly stupid and counterproductive thing to do if you want taxes low. taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200 Please take a moment and read the source, or find any other good one. Revenue did NOT double under Reagan like it used to. Spending did.
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