Monday, February 04, 2013
Paying for tax cuts
Just a thought: In recent years, politicians have argued about tax cuts having to "pay for themselves." In this view, people keeping more of their own money is considered an "expense" to the government. Every nickel of their own money that taxpayers get to keep constitutes a debit on the government's account sheet. What we get to keep ("take-home pay") adds to the federal deficit, so anyone who wants to keep more of what they earn must want to increase the national debt. This philosophy comforts politicians who insist on raising taxes to pay for government spending. It's much easier than dealing with the paradox of telling Americans they have to get by on less money because the politicians refuse to.