In an article at The Right Angle, Amanda B. Carpenter points out the New York’s Times clear misunderstanding of tax cut impacts:
Yesterday the NYT site’s front page declared: “Suprising Jump in Tax Revenue is Curbing Deficit” (SUBSCRIBER ONLY LINK)
The NYT is ready to stay one step ahead of Republicans on this one, though. The writer Edmund L. Andrews writes: “Republicans are already arguing that the revenue jump proves that their tax cuts, especially the 2003 tax cut on stock dividends, would spur the economy and ultimately increase revenues.”
“The tax relief we delivered has helped unleash the entrepreneurial spirit of America and kept our economy the envy of the world,” President Bush said in his weekly radio address on Saturday.”
Since the NYT stock chart is doing a remarkable impression of duh… DUH …. duh DUH… duh ..DUH duh.DUH DuhDUH DUH DUH DUH DUH DUH DUH DUH….
It looks like they are going to need a bigger boat, and this makes it apparent that they fail to grasp simple economic facts.