Why raising taxes is not the answer

As we muddle our way through the budget and deficit crisis the debate between cutting spending and raising taxes will be in the forefront. Arguments will sound good on both sides. After all, the objective is the same-cut deficit spending.

The problem is that raising taxes never accomplishes that, it simply creates more spending. Two great examples are the estate tax initially enacted to help pay for WWI and the AMT established in 1970 because 155 wealthy Americans paid no income tax.

Both these temporary and limited taxes are not only still with us but have greatly expanded in terms of the number of people affected. You need not be wealthy nor have many deductions to be caught by these once “temporary” taxes designed for limited purposes.

Keep this in mind as you hear new calls to ask the “wealthy” to pay “just a little more.”

One comment

  1. I’m at the point were every one should pay, The poor too! ou should not get more money back than you pay in taxes. Stop the give away. I have no problem with tax just make sure it is fair and every one nneds to get out and work, Free loaders should be sebt packing.

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