Not necessarily. In Clinton’s first budget he asked for a tax increase which was passed with no republicans voting for it. The economy still took off and he actually balanced the budget and was on track to reduce the debt.
You could cut all spending except for national defense, social security, Medicare and Medicaid, and interest on the national debt and we would still have to borrow money to cover that. And if your response is to get rid of social security and Medicare and Medicaid, well good luck with that.
I don’t like the idea of raising taxes. After researching the deficit and debt I realize that is the only way we are ever going to get our fiscal house in order. However, we need to raise taxes without increasing spending to do it.
If conservatives truly want to be the party of fiscal responsibility then we need to pay for the programs Americans have said they want instead of putting our children and grandchildren into debt.
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.