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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: E. T. who wrote (25933)	2/10/2008 12:27:51 PM
From: longnshort	Read Replies (2) \| Respond to of 71588

So you want tax increases and soaring deficits ? why ?

To: E. T. who wrote (25933)	2/10/2008 9:29:39 PM
From: TimF	Read Replies (1) \| Respond to of 71588

The point of tax cuts? As a matter of principle its to take less from people. As a matter of practical interest its to decrease the distortion of their economic decision making, and the straight suppression of it that taxes cause by taking the money away from people so they can't choose how to spend or invest it. OTOH if the government borrows the money the main part of the benefit is lost because you do have a suppression of other investment and spending when the government pulls the money in by selling bonds. So spending should be cut or at least controlled (an expanding economy can easily deal with modest spending increases even with low and/or decreasing tax levels). We haven't had that control. So it might make sense to make some new step, but why are tax increases the first thing to reach for? You have a deficit and its "oh we need to increase taxes". No we don't we need to cut spending or at least greatly slow its growth.