July 11, 2006 02:18 PM | | Bookmark and Share

Having slashed personal income taxes, primarily on the wealthy, over the past six years, the Bush administration would like the public to believe that tax revenues are nonetheless doing just fine, and that the budget deficit is not really a problem. Nothing could be further from the truth, as a close look at the administration’s own new estimates in its July 11 “Mid-session Review” reveals.

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