The Poison Pill of Tax Cuts
otherwords.org — Mitt Romney is running on the GOP's 30-year-old gameplan: promise tax cuts that you swear will pay for themselves while helping the middle class. Since President Ronald Reagan first used this strategy, it’s given the Republican Party 20 years in the White House, versus 12 for the Democrats. It’s like a drug. The high of tax-cut promises fades, and four years later we need another hit. The economy would be even worse if everyone’s taxes fell every time a Republican gets elected. The secret is that for most of us, our total taxes have remained about the same, while rich people’s taxes have been cut and cut. Now, Romney is offering us the same old cure-all: if the rich could just pay less in taxes, they would create more jobs and boost government revenue. How has this worked for us?