WHOSE TAX RATES GENERATED MORE TAX REVENUE, BILL CLINTON'S OR GEORGE BUSH'S?

GEORGE BUSH'S TAX RATES GENERATED THE MOST REVENUE OF ALL TIME IN 2007.

THAT'S TIGHT:

BUSH RATES RAISED MORE THAN THE HIGHER CLINTON TAX RATES THAT OBAMA WANTS TO BRING BACK - JUST ON THE WEALTHY.

ANOTHER VIEW:

BUSH TAX RATES RAISED THE MOST REVENUE EVER.

HOW DID THE LOWER BUSH RATES RAISE MORE REVENUE?

SIMPLE:

THERE WERE MORE TAXPAYERS, BECAUSE MORE PEOPLE WERE WORKING AND THERE WERE MORE BUSINESSES AND - MORE OF THESE BUSINESSES WERE MAKING MORE MONEY!

THE DEFICITS SKYROCKET WHEN REVENUES DECLINE - BECAUSE THE ECONOMY HAS SHRUNK -  AND GOVERNMENT SPENDING EXPLODES:

WHAT WILL REDUCE THE DEFICITS IS NOT A HIGHER TAX RATE ON THE WEALTHY.

WHAT WILL REDUCE DEFICITS IS ECONOMIC GROWTH.

AND HIGHER TAXES AND MORE REGULATIONS - AND FLOODING THE ECONOMY WITH PAPER MONEY VIA BERNANKE'S "QUANTITATIVE EASING" - WON'T REDUCE DEFICITS.

THEY ONLY INCREASE INFLATION AND UNEMPLOYMENT.

AND:

WE NEED TO CUT SPENDING.

NOTE:

GREECE AND SPAIN AND ITALY DID NOT GET INTO THEIR FISCAL QUAGMIRES BY HAVING "BUSH TAX CUTS FOR THE WEALTHY" OR "TWO UNFUNDED WARS".

THEY GOT THERE BY SPENDING TO DAMN MUCH - ON THE WELFARE STATE AND WHITE ELEPHANTS THAT ONLY LOBBYISTS AND POLITICIANS AND THEIR CLIENTS AND CRONIES LIKE - AND HAVING TAX RATES THAT ARE TOO DANG HIGH.

SO WHEN OBAMA SAYS THE DEFICITS ARE BUSH'S FAULT, AND CAN BE FIXED BY RAISING TAX RATES, HE IS LYING.

FOR THE NEXT 3 WEEKS, ROMNEY AND RYAN NEED TO HAMMER THIS SIMPLE POINT HOME.