Chapters 1-5

I've already done two chapters.

Chapter One

Can the GOP balance a budget?

No. The first Republican President ran a huge deficit and invented the income tax.

Chapter Two

Do tax cuts stimulate the economy?

No, tax cuts cause public debt, currently about $10 trillion dollars and rising.

Did Bush give a $1,740 tax cut to middle class families making $40,000 per year.

No. This is answered in full in another chapter, Does the Federal Government overtax people?

Chapter Three

Did tax revenues rise after the 1981 tax cuts, commonly known as the Reagan Tax Cuts.

No, revenues fell sharply. However, in 1983, Reagan signed into law the largest peace time tax increase in the history of the United States. Once that tax increase went into place, revenues increased from previous levels.

Chapter Four

Did Reagan destroy Communism and the Soviet Union?

No. Reagan was loaning money to the Soviet Union and supporting Soviet President Mikhail Gorbachev. Further, Reagan was not in office when an internal revolution toppled Soviet leadership. After the wall in Berlin came down, researchers discovered the truth about the Soviet Empire. The Empire couldn't feed it's people most of the time. Over time, the Soviet people lived in a third world type of existence similar to life in Cuba. Cubans live on an annual income of about $400. Overall, not much of an empire.

Soviet historians when asked about the Reagan myth often answer, "Who was Ronald Reagan?"

Chapter Five

Do consumers pay corporate taxes?

No. Corporations pay corporate taxes.

The idea that tax burdens can be shifted from corporations to individuals is a perversion of Adam Smith. Smith writes, "Neither would such a tax fall altogether upon the ground-rent; but it would divide itself in such a manner as to fall partly upon the inhabitant of the house, and partly upon the owner of the ground."

So Smith is saying personal "rent" taxes are burdens for the taxpayer and the landlord. That has become twisted into, "Consumers pay all taxes."

By the way, if you're read this far, you can now brag about it. Next time you're at a party and people start talking about books, you can say, "I just started reading a book on economics, taxation, and government. I've already finished five chapters."