If Dad promised to give you a 1,000 bucks and didn't, can you deduct the money as "lost income?" Democrats apparently say "yes."

Lori Montgomery, a staff writer for the Marxist paper, the Washington Post, had this to say in a recent article:

A Republican plan to extend tax cuts for the rich would add more than $36 billion to the federal deficit next year -- and transfer the bulk of that cash into the pockets of the nation's millionaires, according to a congressional analysis released Wednesday.

Editor's notes: here is a fact of life --- you can't lose something you never possessed. These "tax cuts" are not tax cuts, at all. The Bush cuts were put into place in 2001 and 2003. They were "temporary" because the Democrats had enough votes to keep them being made permanent.

Understand that the $36 billion is not a deficit due to the Bush cuts. Those "cuts" have been tax law for nearly a decade. Rather, the $36 billion is a deficit because the Dems spent more money than they had in hand. It is no more complicated than that.