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Tuesday, November 14, 2006

 
Robert Rubin Wants Congress To Raise Taxes

Opinion Journal has the story, and some analysis.

The article features the following graph:



Note that during the entire span of the chart that the only instance of a federal surplus occurred when Republicans ran the House.

Note also the sharp recovery in recepits following the Bush tax cuts - Dems told us the opposite would happen. The dot-com bust and 9/11 brought about the downturn; assuming that Washington doesn't burden the marketplace any more than it did in the mid-1990s, a return to the Gingrich-era economy would bring the deficit down to a negligible sum, without spending a dime less on the war.

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