Oh, and Charles Gibson is a liar on capital gains

"history shows that when you drop the capital gains tax, the revenues go up."

Here he reports political spin as a "fact"

The reality? Revenues only rise for the first year, because investors hold off taxable investments till the cuts kick in. Which means revenue is depleted from the year before the rise. Over the long term, it is a revenue loser, because after the windfall, it is back to business as usual. What rightwingers do is just attribute any rise that is currently happening or will happen anyway to the tax cut. The liar metions the 1997 capital gains tax cut. Revenues rose steadily before the cut and steadily after because the economy was booming. Rise in revenue actually begins in the early ninties, where no tax cut was in sight.



See that little bump on the rising slope after 97? Yeah, that was the "historic" effect of the cap gains cut. Notice how the bump disappears next year.

The rightwing spin attaches any rise to a tax cut, even when a rise began with a tax hike (1993.)

I see, you can't argue against the fact that he lied.

You mean like having a refund taxed?  I agree.

I have proven over and over again that lowering taxes has never shown to increase revenues.  The only time this will happen is if you have some absurdly high rate.  This is the biggest, most repeated, lie of right wing economic policy.

They also conveniently forget that there is no such thing as a tax cut, only tax deferral.  The only real tax cut is a spending cut.


Class dismissed.

It is not a fact-based society. That will have to come when our current idea of belief-based facts runs the US into the ground. It has taken a while, but the bottom is near.

LOL Where did you get the idea that I believe the 9/11 conspiracy or ANY conspiracy? Thank you for serving as an example of a non-fact based person. You made my point perfectly.

What a retard...