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#11
January 21st 04, 02:21 AM
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Steven P. McNicoll wrote:
"devil" wrote in message news  When you cut taxes without reducing spending, where does the shortfall come from? You're confusing tax rates with tax revenue. Reagan cut tax rates, tax revenue then rose, rising tax revenue does lead to deficits. You were on a roll until you said that rising tax revenues leads to deficits.That can only happen if you spend more money than you've taken in, and the difference between the two is the deficit. Econ. 101. George Z. 
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