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Tax cuts put debt on nation’s charge card
Wednesday, Oct. 15, 2008 | 2:03 a.m.
There should be a law prohibiting any politician who uses the phrase “cutting taxes” in a campaign ad from ever holding a public office. Politicians who say that cutting taxes increases tax revenue are liars.
When Ronald Reagan cut the top tax rate from 70 percent to 28 percent, the national debt was less than $1 trillion. When George Bush leaves office the national debt will be more than $10 trillion, plus the trillions we have already spent on interest on the debt. We will pay $400 billion interest on the debt this year.
The Bush tax cuts were not needed or asked for but they were brilliant politics because they were popular with media stars who make millions. And John McCain was against Bush’s tax cuts until he saw how popular they are with millionaires.
Lawmakers who are accused of “spending other people’s money” pay the same taxes as other people.
Death and taxes are certain, no matter how much we may wish otherwise.
The longer we put off taxes, the higher they will have to be raised.
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No we need tax cuts AND spending reductions.
Raising taxes takes from current income earners.
Cutting taxes and not spending takes away from future income earners.
"The longer we put off taxes, the higher they will have to be raised." - What a dangerous statement that is. Do you really think government can solve all your problems?
As far as the debt increasing under Reagan, yeah he should have gotten congress to slash government spending. The major source of growth under him was..duh, duh-duh, welfare.