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Tax rates, high or low, have little impact on creating jobs. A healthy middle class of consumers is what creates the demand that creates jobs.
The only thing the Reagan tax cuts have done over the last 30 years is reduce Federal revenue to the point where we'll soon be borrowing more money than the annual GDP, just to keep the gov't operating. Cutting spending isn't going to solve the problem. You can completely eliminate all Federal spending except entitlements and the interest on the debt and you still don't have enough revenue to cover it. If Federal revenue doesn't increase to exceed expenses, then it's only a matter of time before it all crashes. The only question is whether or not the politicians in Washington come to that realization in time to do something about it. Everyone is going to have to pay more taxes, or everyone is going to be in the poor house.
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