As NewsBusters has been reporting, America's media have been on a full-court press to raise taxes ever since Barack Obama proposed this in his deficit reduction speech last Wednesday.
So supportive of soaking the rich is MSNBC's Ed Schultz that on Monday's program bearing his name, seconds after claiming "Republicans are forced I guess you could say to make stuff up," he lied about what happened after taxes were cut by President George W. Bush
I'm not sure who did this research for Schultz, but here are the numbers directly from OMB:
Above is a screencap from page 22 of OMB's "Historical Tables: Budget of the United States." The column on the left represents total unified tax receipts, the center is total unified expenditures, and the right is the associated surplus or deficit.
The first Bush tax cuts happened in 2001 when we brought in $1.991 trillion in receipts. This declined for two years, then started increasing, and by 2005 not only were receipts higher than in 2001, they were also higher than the previous record set in 2000.
"Even seven years later, revenues were lower than before the Bush tax cuts went into effect."
Not even close. Revenues in 2008 were $2.523 trillion, $532 billion or 27 percent higher than 2001.