What this author says is true, but more and more, I am of the opinion that we need taxes that equal spending. That will force people to make spending choices. If you run up a deficit for future generations to pay, it creates a “something for nothing” mentality. The same holds true if you cut taxes on the middle class and not the wealthy. Republicans scored a lot of political points taking the poor and middle class off the tax rolls. And in retrospect, that was a disaster that created the “47%” who vote for more and more benefits knowing they won’t pay for them. I want a rational tax system where everyone pays and it equals spending. I’d strongly prefer that to come from large spending cuts and rationalization of entitlements. But if that isn’t going to happen, then I’m for a fairly large lower and middle class tax increase to pay for it.
RE: I am of the opinion that we need taxes that equal spending.
The graphs of posts 3 and 4 tells us everything.
Even as government revenue increased, SPENDING INCREASED EVEN MORE !!
This has been true for the JFK and Reagan tax cuts.
JFK cut taxes and LBJ used the increased revenue for his Great Society.
Reagan cut taxes and the Democrat controlled Congress ( ignoring their promise to Reagan ) INCREASED OUTLAYS even more than revenue !!
The moment money flows into the treasury, you can bet your bottom dollar that the folks in Washington will be salivating with glee.
“then I’m for a fairly large lower and middle class tax increase to pay for it.”
So am I but what has happened is that becomes the third rail of prior tax cuts as it seems those who pay no income tax feel that anyone paying tax is not paying enough!
The entitlement programs are the biggest drivers of our debt. They need to be reformed, which will require a reduction in benefits or an increase in taxes, or some combination of both.
Your premise is good but better to have spending that doesn’t exceed taxes and is based on actual Constitutional “allowances” vs. all the waste. I did a paper 25 or so years ago where I concluded that we could cut taxes by over 60% and still have a surplus if we stuck to Constitutionally legal spending instead of being a “do-all-for everyone” Nanny State.
Clearly you are the enemy of sanity. Tax cuts stimulates the economy which helps the individual citizen remain self sufficient and increases tax revenues. Why can’t you get that? Are just stupid? You want to punish citizens because the government spend to much? Who the hell are you?