Will raising taxes help reduce the deficit, not if you find ways to spend the new-found pot of gold. Conventional wisdom says that more revenue will help lower the deficit, but historically that is not the case. Why, because politicians can’t resist spending every penny they can..it plays well at election time so shame on us.
Updated research shows that there has never been a time when Congress did not spend more than generated by an increase in taxes.
Related Articles
- Higher Taxes Don’t Lower Deficits (outsidethebeltway.com)
- Stephen Moore and Richard Vedder: Higher Taxes Won’t Reduce the Deficit (online.wsj.com)
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