Midya's Weblog

U.S. Deficit: Higher Taxes Needed to Cut Rising Debt

Time.com

By ERIK HEINRICH  Wed Mar 3, 7:15 am ET

I LIKE HOW THERE IS NOTHING IN THIS ARTICLE EVEN HINTING AT WHAT HIGHER TAXES WOULD DO TO ECONOMIC ACTIVITY OR THAT SUCH ACTIVITY IS WHAT GENERATES MUCH OF THE COVETED TAX REVENUE.  NOR DOES THE ARTICLE EVEN HINT AT THE EVIDENCE THAT LOWER TAXES INCREASE REVENUE TO THE GOVERNMENT DUE TO INCREASED ECONOMIC ACTIVITY AS ILLUSTRATED BY THE LAFFER CURVE.  THIS INCREASE IN ECONOMIC ACTIVITY ALSO MEANS LESS GOVERNMENT OUTLAYS TO SOCIAL PROGRAMS DUE TO HIGHER RATES OF EMPLOYMENT.  SO, NO, HIGHER TAXES ARE NOT NEEDED AND, NO, THEY ARE ALSO NOT INEVITABLE…JUST SEND OBAMA BACK TO WHERE HE CAME FROM AND LET HIM AGITATE IN HIS COMMUNITY VS. IN THE WHITE HOUSE.    

BASICALLY, ALL THIS ARTICLE DOES IS TELL US THAT LARGE DEFICITS ARE BAD AND THAT TAXES ARE THE WAY YOU ELIMINATE THEM.  WAY TO SKEW THE ISSUE, TIME.

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This entry was posted on March 3, 2010 by in Uncategorized.
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