4 Takeaways From a New Report on the National Debt

The Daily Signal ^ | June 25, 2019 | Justin Bogie

[OIFVeteran]

Ok? So Obummer did it better than Reagan. One of the reasons he did is because he took a page from the republicans play book and lowered taxes while increasing spending. Remember the temporary lowering of the social security tax?

The bottom line is that the deficit and debt started to skyrocket under Reagan and continued to (with a brief leveling off during Clinton’s last years) since. Look at any graph of the debt and deficit since 1900 and it will jump out at you.

Cutting taxes and increasing spending does not balance the budget or decrease the debt.

[TBP]

Again, time after time, cutting taxes grows the economy. And over the years, they pay for themselves.

Clinton’s “growth” was illusory — it was mostly the tech bubble. Raising taxes will slow the economy and reduce growth.

When you tax something, you get less of it. That applies to wealth creation as much as anything else. The more you tax it, the less of it you get. We will never tax ourselves to prosperity, and we will never reduce the deficit by raising taxes.