Lower Tax Rates and Revenues
Every time tax rates are lowered revenues go up. Does that sound like a decent way to reduce the deficit?
Stop trying to punish the wealthy for their success and they will earn more and invest more. Wealthy individuals have options. They can defer income to later years or they can shelter income by not investing it.
Why invest in anything that will generate income if the return on the investment will not be worth the risk. High tax rates encourage people with money to hide their money. Not hide it as in stashing it in a Cayman Island Bank account (but I suspect some do) but hide it in a low interest savings account or CD and minimize income. It pays to earn less when you lose more to the tax man. Can you say unintended consequences of the soak the rich committee?
Spending has always been the problem; they do too much for no apparent reason. The new Congressmen and women that we elect next November will help fix that. The Current Politicians can’t fix anything but their own next elections.
Lower taxes will generate higher revenues. It’s worked every time it’s been tried.
Lower taxes NOW, Stop spending NOW.