Spending and Deficits


Suddenly the likes of Bernie Sanders care about the debt. Republicans, he and the angry left claim, are being hypocritical by not raising taxes.:  This is nonsense. Keeping tax rates the same is not, as he claims, adding anything to the debt. Sure, Republicans have agreed to Obama’s costly extension of unemployment insurance, but that’s a reasonable price to pay for not allowing the tax hikers to truly wreck the economy. The latter would, in the long run, result in less government revenues anyway.

We need to be honest about our fiscal problem. The debt is just a symptom, and it cannot be treated by increased revenues. Why? Because the real problem is spending. If politicians are given more revenues, they will just spend it. This principle has been demonstrated time and time again. Raising taxes will do nothing to fix the debt. The only way to reduce deficits is to reduce the burden of government spending. It’s not a 35% tax bracket instead of 39.6% standing in the way of fiscal sanity, nor a 15% capital gains tax instead of 20%. It’s the self-described socialist Bernie Sanders and his comrades on the left blocking us from doing what needs to be done.

Cross-posted at Conservative Compendium.


Tags assigned to this article:
Bernie SandersDebtspending

Related Articles

11

DU Thread Of The Day: Killing Osama Resolves Nothing

A little earlier, John Hawkins was discussing the liberal hypocrisy over the death of Osama Bin Laden, linking to a

0

New ‘Explosives’ License Impinges on Gun Owners that Load Own Ammo

Before the smoke had cleared after the terror attacks during the Boston Marathon last month, New Jersey Senator Frank Lautenberg

5

Toilet Paper ‘Down Under’ To Cost More Thanks To Green Policies

First the greenies came to take away our lightbulbs in the U.S. and force us to buy more expensive ones.