Monday, December 10, 2012

Higher Taxes=Higher Spending.

It is a simple economic concept that has been proven time and time again.  Higher taxes will equal higher spending.  As the supposed fiscal cliff comes and goes, higher federal taxes will do little.  They will do little in addressing the growing $16.5 trillion dollar National Debt.  They will do little in balancing the federal budget (which now has so much off budget/off line item it can not even be counted).  And they will do little in actually increasing tax revenue.  In other words, Keynesian economic theory has failed in the past and will fail for the future.
What really is needed out of Washington from both parties is a plan to cut federal spending to the bare minimum not supposed cuts to occur over a ten year period nor an Administration and Senate that does not believe in either developing and or passing an actual budget.  There is in my economic opinion a great deal of massive waste in spending on economically irrational programs and fraud which takes place in our Federal government which has help to bring our National Debt to unsustainable levels.
Stop campaigning and start to cut spending.  The four past years have proven that the economic policies coming out of Washington have done little to stimulate the economy nor address the National Debt.  Higher taxes will do little in 2013.

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