THE NUMBERS TELL THE STORY
WHY MAJOR TAX INCREASES MUST BE PART OF ANY MAJOR BUDGET REFORM:
UNREALISTIC TAX CUTS IN 1981 PRODUCED A BUDGET TRAIN WRECK.
UNREALISTIC TAX CUTS IN 2001 PRODUCED AN EVEN BIGGER BUDGET TRAIN WRECK.
MAJOR TAX INCREASES IN 1993 SET THE STAGE FOR A RETURN TO FISCAL SANITY
AND A VERY BRIEF AND SMALL SURPLUS IN 2001
(OFFICIAL CONGRESSIONAL BUDGET OFFICE FIGURES)
(SOCIAL SECURITY FUNDS ARE NOT USED TO HIDE SIZE OF DEFICIT)
(Dollar Amounts in Billions) (In Nominal Dollars)
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