Papageorgio
The Ultimate Winner
The main reason this budget is being pushed is to keep money flowing into the economy and keep the house of cards alive. As soon as the artificial money stops, the Democrats know it will sink. That is why the push to approve the budget as is.Raising taxes to generate more revenue for the government, hoping it will cause them to balance the budget and pay down the debt makes as much sense as giving a hardcore gambling addict money, hoping he'll buy a plane ticket home from Vegas.
First of all, new taxes NEVER generate the projected revenue, because those who make the projections assume static behavior. The reality is, people adjust and take steps to avoid paying higher rates as much as possible. Remember the yacht tax that was supposed to really get those rich guys? All it did was destroy the American yacht business, generate no revenue, and the rich guys have as many yachts as they did before. They just bought them from a different country that didn't have the additional tax.
Second, Congress has shown itself to be totally incapable of being responsible with new revenue. Every time they get even a scent of more money, they immediately start new spending, and by the time any new money comes in, it's already allocated and new debt is piled on top of it.