Tax Increases Will Make Deficit Worse

Tax Increases Will Make Deficit Worse

Tax increases will only make the deficit worse, writes Phil Kerpen of the Baxter Bulletin.  Instead of going to reducing the deficit, Washington politicians will use the money to spend even more.  A study of the past 60 years by economist Richard Vedder found that for every dollar in higher taxes that Congress takes in, they spend $1.17.

Most Americans seem to know this intuitively: a recent poll from Resurgent Republic says that 62% of voters think the revenue from a tax increase will go toward new spending; only 38% think it will go to deficit reduction.

Ultimately, it’s not about how we balance the budget – just that we do it.  Anything that detracts from our ability to restore fiscal sanity in Washington is not the path we should be going on.

For the entire column, read the Baxter Bulletin.

 

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