Taxing credulity
Do you ever wonder if certain people in government have even a basic understanding of budgeting? That is, the amount of money that comes in minus the amount of money that is paid out equals either surplus or deficit. In the case of government, the money that comes in is otherwise known as taxes so the budgeting formula can be stated very succinctly, thusly: Taxes - Expenditures = Surplus/(Deficit) You would think that anyone who has made it to the halls of Congress as an elected representative of the people would at least understand that very basic concept, but apparently, you would be wrong. Exhibit number one of this fallacy is Sen. Jon Kyl of Arizona. This is what he said on Fox News Sunday yesterday: "You should never raise taxes in order to cut taxes. Surely Congress has the authority, and it would be right to -- if we decide we want to cut taxes to spur the economy, not to have to raise taxes in order to offset those costs. You do need to offset the cost of increased s...