I just read a letter from S. Robert Schwartz, and I think I need to correct some of his uninformed statements.
Schwartz claims the war in Iraq was a multi trillion-dollar war. As of November 2009 the total cost of the Iraq war was around $800 billion.
Schwartz claims the Bush tax cuts added trillions to the national debt. Actually, the 2003 Bush tax cuts generated a massive increase in federal tax revenue, and were followed by 52 consecutive months of economic growth.
From 2004 through 2007, federal tax revenue increased by $780 billion, the largest in history.
Total federal revenue grew higher from 2004 through 2006, than it did in Bill Clinton's boom years of 1998 through 2000, by more than $200 billion, and the rich actually paid a higher percent of the total tax burden than in the past 40 years.
- Rick Powell, Griffith
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