I was able to go to the Capitol today to hear a debate on social security reform. The head of Women for Social Security Choice and a representative of the Heritage Foundation were on the side of personal accounts while the President of NOW and some other feminazi group were against. Besides being bad debaters, making political attacks, and going off on tangents, the feminazis said one thing that irritated me.
They, like so many liberals, claim that repealing the 2003 tax break for the top 1% of wage earners would solve this or that budget problem. This is absolutely ridiculous. Not only are the revenue projections from such a repeal no where near the amount of revenue needed to “strengthen” social security, but such a repeal would actually lower government revenue.
The numbers came in this week and the government revenues this year are about $100 billion dollars more than expected. A new WebMemo put out by the Heritage Foundation shows us that cuts on the marginal tax rates have actually increased revenue. Who would have thought, Supply Side Economics works.