Saturday, December 20, 2008

The awakening begins...

Pawlenty chooses fiscal discipline over tax hikes.

It's beginning. Our leaders are starting to realize that taxation and spending are mutually inclusive; that is, they cannot be dissociated from one another. Tax revenues collected can never exceed 100 percent of gross revenues earned, regardless of how the taxing authorities would like it to. However, spending can and certainly does exceed collected tax revenues. If we spend more than we collect, then we have a deficit.

D'oh!!

An interesting link...

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