As the economy continues to hum along, with new jobs created and unemployment as low as, if not lower than, it was in the 1980s and 1990s, the New York Times reports: “An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief.” Steep rise in revenue from the wealthy? Hmm. . . . that doesn’t seem to square with what the president’s critics have been saying about the tax cuts he signed.
I mean, let’s see, the president got most of his tax cut package through Congress and then signed the bills into law and now look — the New York Times reports a “steep rise in tax revenues” from the wealthy. Something’s wrong here. Were the president’s critics wrong to contend that the president’s tax cuts primarily benefited the wealthy?
Or maybe it was something else. . . .
I’ve got it! The president’s package only cut taxes on wealthy conservatives. Meanwhile dark genius Karl Rove has been staffing the Internal Revenue Service (IRS) with his minions and has been using secret protocols in the tax code to levy higher taxes on wealthy liberals. Yes, that must be it. Another Rovean plot. That man’s a genius!
Higher tax revenues coming from wealthy liberals means they’ll have less money to give to congressional Democrats, the various Democratic committees and left-wing 527s, making Republican victory much easier in this fall’s elections! Thanks, Karl!