Conservative Talk About Deficits, But Do Not Want Mr. Taxman To Be Fix To Solve The Deficits
So I was reading the Foundation of Economic Education commentary on deficits and there was one glaring problem. No discussion at all about giant tax increases on wealthy to recover lost revenue
They talk about slashing entitlements and spending with ignoring the giant gorilla in the room: increase taxes. Democratic float using taxes to fund all kinds social programs. But if you are fiscal conservative, the big area to recover from deficits is taxes starting from the people who benefitted the most
I am not talking about giant growth of government or increase stimulus, but the principle that you should go after revenue before going after entitlements or decreasing spending. And the rich were "loaned" money from the government due so that they would invest it in their companies or being the "job creators" that GOP claims that they are.
Now, it time to pay that loan back to US federal government in the form of increased taxes. Of course, the conservatives do not like hearing this because it (a) they have strong cognitive bias against using taxation to reduce the deficit and (b) their own election apparatus that relies on heavily on a large donors to fund their elections and media. And those large donors do not like increased taxes.
Wealth has a huge role in this society, but the concept of sticking the poor and middle class to foot the bill of a loan that you received from the Federal government so you can gamble on the stock market and buy investments is not equitable. I got a good history lesson where that approach did not work: It is called Greece. And our own financial crises.
I have long memory of history. Most people don't. And these guys don't have it either.
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