Tuesday, September 20, 2011

Trying To Understand Higher Taxes But Can't

As an economist I continue to try to understand politicians most favorite phrase and term-"Higher Taxes". I no longer understand what this term means as it relates to government and its' spending. Higher taxes seems to mean that taxpayers have an unlimited amount of income that they must pay to government at all levels, local, state and federal.
Taxpayers must accept these poor economic decisions that are made by our elected officials and thus pay these higher taxes to continue to support an inefficient and bloated government. Politicians remain unchecked in their economic power grab of taxpayers' income and wealth. Then this money is redistributed in some ways to an elite few for their own economic gain. Higher taxes strips economic growth out of our economy.
Higher taxes does little to help government control spending and or pay down debts as has been see through the bloated Democratic state budget enacted. A massive tax increase (higher taxes) has done little to help our state economy nor is it addressing the massive unfunded pension liabilities of the future.
So I do not understand higher taxes. Nor do we have any plans for addressing our national debt, addressing our massive Connecticut unfunded long term debt or resolving massive unemployment. We have more of the same rhetoric-higher taxes, over and over again-ad infinitum (to infinity).

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