Press Gazette / Post Crescent, Where Are You?

Thanks to Lance Burri from Badger Blog.

Somebody tell me this is not true. Tax cuts really do work. Gosh, the rich really paid more in taxes? Come on, middle income and less "their share of the total tax collected went down". You have to be pulling my leg! My question to the two major newspapers in Northeastern Wisconsin. Where is a feature article on the Bush Tax cuts.

"Monday, July 28, 2008
Somewhere, in some half-crazed alternate universe…
…this Racine Journal Times editorial didn’t make me do a spit-take:

Numbers support Bush tax cuts

Instead of a new round of arguments in Congress over whether the wealthy need a super soaking by rescinding the tax cuts, the nation would be better served by acknowledging that the tax cuts have not impaired federal revenues, coupled with an agenda that works toward a balanced budget.

This is the second time in a month that I've noted a conservative position coming out of the RJT editorial team.

posted by Lance Burri @ 7:34 PM " Badger Blog Alliance

When will we have non bias reporting in Northeastern Wisconsin. Thanks RJT. Here is full article.

Numbers support Bush tax cuts
Friday, July 25, 2008 9:38 PM CDT


Tax numbers out recently from the Internal Revenue Service suggest a different result than Democrats and some political fractions warned of when the Bush administration pushed for and won two rounds of tax cuts in 2001 and 2003.

There is no question that higher income people paid a larger share of taxes in recent years. From 2001 to 2006, the fraction of tax revenue paid by people with adjusted gross incomes of $200,000 or more increased from 40 to 51 percent while the fraction paid by people under that limit decreased from 60 to 49 percent. In some of the middle income ranges, from roughly $30,000 to $200,000, more people filed returns, but their share of the total tax collected went down.

This spans the era of tax cuts proposed by President George W. Bush, cuts which expire at the end of 2010. The larger share of tax paid by the wealthy may be partly a result of the cuts, or partly of inflation shifting some people into higher tax brackets or into the path of the alternative minimum tax (there are fewer returns from lower income levels in 2006 than in 2001), but the inescapable conclusion is that the Bush tax cuts have not been a giveaway to the wealthy. That argues strongly for making the tax cuts permanent.

There are other important issues to deal with, of course. What we also must do is deal with federal spending, and this raises a conundrum because the Congressional Budget Office tells us that about 45 percent of all federal outlays are consumed by just three programs: Medicare, Medicaid, and Social Security.

Of those, expenditures for Medicare and Medicaid are projected to really soar because the annual increase in each program has exceeded the per capita GDP by a couple of percentage points. (GDP, you may recall, means gross domestic product and equals the value of all goods and services produced within the United States.) In other words, we’re spending more on these health care services than we make, and that is not sustainable.

The New York Times noted earlier this month that the higher tax revenues from the wealthy and from corporations have driven down the nation’s projected budget deficit this year even with heavy spending on the war in Iraq. Corporate tax receipts have nearly tripled in the past five years and, according to the Times’ article, the latest White House predictions are that the deficit is $100 billion lower than what had been predicted earlier this year.

Instead of a new round of arguments in Congress over whether the wealthy need a super soaking by rescinding the tax cuts, the nation would be better served by acknowledging that the tax cuts have not impaired federal revenues, coupled with an agenda that works toward a balanced budget.

That would put us on a much better footing to tackle the looming problems of Social Security, Medicaid and Medicare spending.

Maybe our great local newspapers should put the Racine Journal Times on their favorite list. How long did we know this information and most people in Wisconsin have no clue. Oh, forgot, they are the anti Bush, left leaning Main Stream Media. If this was printed in their newspapers, as they would say, show me!

The MSM will always carry water for the dems and the people of Wisconsin never hear the truth. I hope they will prove me wrong! And you wonder why the print media is falling by the wayside. Just remember, if they did print this kind of information it would be on Section C,D or E, page 8,9 or 10. Buried somewhere deep in their bird cage paper.

People, TAX CUTS WORK!