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Politics : Libertarian Discussion Forum

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To: Fiscally Conservative who wrote (12165)	2/11/2019 10:44:30 AM
From: TimF	Read Replies (1) of 13056

and yet that is exactly what this 'current' Administration supports Really? They cut taxes but I don't see them arguing for further tax cuts. Tax income as a percentage of GDP is average to high now not low by historical standards (depending on what period of history you are looking at, if your looking at all US history then its very high now) . Its was over 17 percent in 2017 and would be more now with the economic recovery (most tax systems, esp. progressive ones have tax income go up faster then economic growth in good times and decline faster then economic contraction during recessions). I don't think its reasonable to get much more. That having been said because the long term fiscal situation is so bad I wouldn't call for more tax cuts soon. Eventually taxes should be cut, but spending has to be brought under control first. Controlling spending gets less attention (and esp. less action) then taxes, but it matters more. Much of a tax cuts benefits won't materialize if your just borrowing all the money anyway. Another really important point that gets even less attention then government spending is reigning in the regulatory state.

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