I heard on the radio this morning that the Democrats just want the richest of the rich to pay a little more in taxes. That’s fine, but you can’t solve our long term, medium term or even short term fiscal problems by just having the richest of the rich pay a little more. That’s not enough money. We have to spend less or get more in tax revenue – or more likely both.
One more thought: Raising tax rates will only work if it results in more tax collections. If raising tax rates results in more tax compliance games and little additional tax collections, it might make some people think our tax system is fairer, but it won’t help our fiscal problem.
Comments