No, tax cuts don’t pay for themselves. In the interests of informing Americans, Michigan’s own Rep. Gary Peters tried get the official statistics added on the record. It seems the GOP doesn’t want you to know the truth:
Washington, D.C. – Today every single House Republican voted against an amendment by U.S. Rep. Gary Peters to insert factual findings about the Bush Tax Cuts into a Republican budget bill (H.R. 3582). The Peters Amendment was defeated by a vote of 174 to 244 with every Republican voting no.
“I’m disappointed that every single one of my Republican colleagues refused to admit that the Bush Administration was wrong when they told the American people that the Bush Tax Cuts would pay for themselves,” said U.S. Rep. Gary Peters. “We are in the middle of a jobs crisis and have serious deficit problems that need to be solved, but if the Republicans can’t even acknowledge basic facts about the impact that the Bush Tax Cuts have had on the economy, it’s hard to take their solutions seriously. I can’t say I’m surprised, but once again, Republicans aren’t letting the facts get in the way of their opinions.”
Video of Congressman Peters debating the amendment at the link. Also useful to know “the Congressional Budget Office estimates that the tax cuts of 2001 and 2003 have added over $2 trillion to budget deficits from 2002-2011. And here’s a pie chart illustrating just how much those tax cuts added to the deficit.
Back at the beginning of the Iraq occupation Republicans boasted they create their own reality. It appears they’re still trying to protect their fantasies. Meanwhile it’s been over a year now and they still haven’t come up with a job creation plan other than giving the super rich even more tax breaks. Because that’s worked so well, so far. [Via Doug J]