Wednesday, June 14, 2006
Peddling the same ol' cheese...
...at Angry Bear, is head salesman 'pgl'. The above graph is designed to show abnormal tax revenues as a percent of GDP thanks to the tax cuts of George W. Bush.
But, as pgl well knows--thanks to the diligence of the FLUBA Committee on Truth in Packaging--the decline in revenues from over 20% in 2000 is merely regression to the six decade post WWII mean of slightly over 18%.
The Federal government has never been able to sustain revenues of even 19% of GDP. Using the dot.com boom years as a baseline is fundamentally dishonest.