More taxes is never the answer. The President says that the way to bring down the deficit is to reduce spending and increase taxes. On the surface he's half right. In practice, he's all wrong.
Decreasing spending is the only way to reduce the debt. Spend less, keep more. Spend less, have more to pay down the debt.
Raise taxes and have more to spend. Is there actually anyone who believes that if Congress has more revenue that they will not find a way to spend it?
Raising taxes is a horrible plan - always. We should have the minimum amount of tax to fund the absolute minimal level of government provided for in Article I, Section 8 of the Constitution - and no more. The rest is waste.
No, the way to reduce the federal debt is to drastically and sacrifically slash spending. Eliminate jobs, close offices. shut down departments. Scale back like we had a deadline.
Then consumers might feel like spending again and small businesses might feel like hiring. Who knows, the economy might bounce back!
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Steve Hoffacker - Consultant, Coach, Author, Blogger, Photographer, Motivator, Teacher, & Strategist - for Realtors, Real Estate Sales Professionals, Home Builders, New Home Salespeople, Entrepreneurs, Small Business Owners, and Independent Sales Representatives.
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