eflatminor
Classical Liberal
- May 24, 2011
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But taxes will need to be increased, its naïve to believe otherwise; as spending cuts alone will not make a significant impact on the deficit.
Someone has suggested actual cuts? I'm not talking about a slight decrease in the planned increased rate of spending (base line budgeting), but actual CUTS.
In other words, how can you say that spending cuts alone will not make an impact when nobody is seriously considering any actual cuts?
And, when you say taxes will need to be increased, do you mean tax rates or revenue? If it's tax rates, how do you know such action won't harm the economy and result in less revenue (ala the Laffer Curve)? If you're suggesting we need more tax revenue, how do you plan to accomplish that?