I got an email from my mother this morning linking to a YouTube video of "Heritage in Focus", these are short 2 minute episodes about various current issues. Some might call these videos "propaganda," but this one was fun, my cousin is the announcer in this episode.
I agree quite strongly with the Heritage Foundation on this subject. Surprisingly, under George W. Bush revenues in the US Treasury have reached some of the highest highs in recent decades and it has happened without tax hikes. (Apology -- this is information I heard during a tax practitioner conference and I don't recall (or am too lazy to) recall the sources) It would appear that one of the largest contributing factors in increasing revenues is one of the strongest efforts in history to give the Internal Revenue Service the needed resources to close the tax gap. The Democratic party rhetoric that the Bush tax cuts were only for the wealthy is very misleading, I have seen a vast majority of my client-taxpayers, and I would argue most people have, benefited under the tax cuts enacted during the past 6 years. Make the Bush tax cuts permanent!
Update: I received some criticism on this post, and I wrote as if I had nothing but praise for the Bush Administration fiscal management of our nation. Federal spending by Bush and the formerly GOP Congress has been inexcusably high especially on earmarks and nonessential, entitlement, non-defense programs. However, I disagree that tax cuts are the problem. If we would have had a GOP congress that would have stuck the fiscal conservatism GOP'ers claim to embrace (low taxes and low federal spending) the current debt/deficit situation could be much different. If congress and the President reigned in non-essential spending (I believe) a balanced budget would occur.
I have at times in my life believed in Santa Claus so why not believe Congress and the President can stop its addiction to over-spending.
I hope that lowers the critically high propaganda levels of this post. I posted this more because I thought it was neat that my cousin was in the video.