A Quote by Douglas Adams
I'm spending a year dead for tax reasons.
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There are several reasons to oppose tax increases. First, every dollar of tax increase is a dollar you didn't get in spending restraint. Two, if you walk into the Democrats' Andrews-Air-Force-Base, Lucy-with-the-Football trick for the third time in a row - they don't have have a saying for being fooled three times!
Tax increases slow economic growth. Why would you raise taxes? We need to reform spending, the tens of trillions of unfunded liabilities can never be funded by tax increases, that can only be fixed by reducing spending.
Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.
If the US Government was a family—they would be making $58,000 a year, spending $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.
The other thing that's really important in tax reform is making sure that we don't tax American businesses at much higher tax rates than our foreign competitors tax theirs. It is costing us jobs. It's one of the reasons all these American companies are moving overseas.
Conservatives in general, and even so called Tea Party conservatives, are not against transportation spending. Indeed, interstate commerce is one purpose of interstate highways and byways, and is one of the things the federal government is actually supposed to spend our tax dollars on. What conservatives are opposed to is needless and excessive spending, pork-barrel spending, deficit spending, spending to pick winners and losers among American individuals and corporations, and spending to promote the social and economic whims of the Washington few.
Sometimes, tax rate increases create the very problems that the spending is intended to cure. In other words, the tax rate increases reduce economic growth; they shrink the pie; they cause more poverty, more despair, more unemployment, which are all things government is trying to alleviate with spending.
Each and every year, the United States loses an estimated $100 billion a year in tax revenues due to offshore tax abuses by the wealthy and large corporations.
When you consider that a steelworker who's making $40,000 a year has virtually the same tax burden as someone who's making $400,000 a year, you see that there are inequities. This administration has used the tax code to accelerate wealth to the top. Most of the tax breaks have gone to people in the top bracket.
OK, so this pack - tax package includes about 50 tax breaks. None of them are new. They were all existing tax breaks. What this did was make them permanent. It gives some certainty for people when they're filing taxes that they don't have to wonder if Congress is going to renew them year after year.
The largest tax reduction in American history, one page tax form, reducing government spending. Those are all the keys to economic progress.
And I have to tell you as a grandmother, I worry about the fact that my grandchildren are going to be paying for all the spending, including military spending, that has gone on and the tax cuts that have come through.
Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
You've got to either say you're going to cut taxes and find some spending cuts. I think we ought to reform long-term entitlement spending in the country, but you can't out of one side of your mouth say, 'Yes, we're for tax cuts, we're for spending discipline, and we're for bringing down the debt.'
I have recommended cutting the tax on cell phones and TVs for every Florida family so they can save around $43 a year for spending as little as $100 a month on cell phone and TV bills combined.
If, before 2020, there is a choice between further spending cuts, more borrowing and tax rises, the priority must be to avoid tax increases. They would disrupt consumption, employment and investment.
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