House Extends Investment Tax Cuts

The House voted today to extend the capital gains and dividend tax cuts an additional two years, 234-197. The House vote gives hope that it will appear in the final reconciliation bill after the Senate refused to include the cuts (thanks to Sen. Olympia Snowe, the jellyfish from Maine).

I love how reporters ignore the fact that lower tax rates actually raise revenue, as proven by the 2003 tax cuts (which increased revenue 14 percent this year):

Even without these tax reductions, the deficit is projected to total $314 billion in fiscal 2006, according to the nonpartisan Congressional Budget Office. The House tax cuts could make the deficit bigger...

I just have one question: why does one need to go to college to become a journalist? Democrats must love it when the media helps them perpetuate their own lies - imagine where they would be without the media...