Thursday, December 6, 2012

Higher Tax Rates Don’t Equal Higher Revenues

The fiscal-cliff negotiations seem to be foundering on Barack Obama’s insistence on higher tax rates on high earners and House Republican leaders’ insistence on opposing them. The president believes he has a mandate from voters for his position, and House Republicans believe they have a mandate from voters for theirs.
The real argument here is over the size and scope of government. Under Barack Obama, federal outlays — the technical term for federal spending — have increased to over 24 percent of gross domestic product.

Read more: http://www.nationalreview.com/articles/334922/higher-tax-rates-don-t-equal-higher-revenues-michael-barone

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