The Democrats caused this mess since taking over Government in the election of 2006. Just as the boom of the 1990′s were the result of the Republicans taking over the Government in the election of 1994. George Bush tried to hold back the Pelosi depression but economically the Speaker of the House is a much more powerful position than the President.
We thought that Pelosi and Reid were just trying to wreck the economy to make George Bush and the Republicans look bad but since January they have not stopped. They actually may believe their own press releases.
It does make it easier for Conservatives to bring the economy back fast. The Reagan tax cut showed that 80% of every dollar of tax cut for people who earned over $200,000 (That would be $500,000 today) was invested back into the economy. The Democrats are targetting that very investment and the jobs that come from that investment for distruction. The one year Laffer curve seems to center around 28% to 33% depending on the type of taxes and the cost of all regulation must be included as a tax. Higher multi-year growth is available for lower tax rates.
The liberal tax plan will lower revinues in future years.
