GOPwinger Lies/Distortions/Omissions/Perversions of Truth Message Board

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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth

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To: Kevin Rose who wrote (143083)	10/24/2008 6:51:51 PM
From: TimF	Read Replies (1) of 173976

Maybe tie taxes to the budget balance...the more out of balance, the higher the tax. Probably a bad idea. Assuming it does lower taxes when the budget is doing well (and it it doesn't its even worse, a ratchet to outrageous tax rates), then it will cut taxes in good times, and raises taxes in bad times, a pro-cyclical automatic adjustment that will increases "booms and busts". If you where going to have something vaguely similar I'd rather it be automatic spending cuts when the balance is bad, but I don't think I could support that either because it would also have a pro-cyclical effect.

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