Thursday, February 28, 2013

Taxes do not solve Washington's spending problem

Think Washington can tax its way out of its spending problem? Never mind the draconian effect of more taxes on the middle class and the economy, more taxes are not the answer:

Jenkins: None Dare Call It Default - "A few years ago, when the economy was humming, a common estimate held that federal taxes would have to rise 50% immediately to fully fund entitlement programs. Today, a 50% tax increase would be needed just to meet the government's current spending, never mind its future obligations."


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