Friday, August 12, 2011

If we undid the Reagans top marginal tax rate cut, would America's "out of control debt" problem be resolved?

No, of course not. Tax rates are irrelevant to our "out of control debt" problem. As long as politicians have the ability to run deficits and loot future generations for the benefit of this current generation, then there will still be a debt problem. Furthermore, even if this government were to stick to a "debt ceiling" then the debt would just be replaced by mive inflation since politicians could just get the Federal Reserve to print more currency. Anyway you look at it, politicians can only serve to destroy our economy - not stimulate it.

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