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650 Billion in Tax Increases? 30 April, 2007

Posted by stoptaxing in federal.

April 30, 2007 contained an analysis by Stephen Moore which claimed the Democrats are planning a massive tax increase to make up for the AMT (alternative minimum tax) cut we need.  They have self imposed an artificial dilemma which could sink us into a recession.  The pay through the nose rules as we call paygo here is making any real tax cut impossible with a crew bent upon new spending.  (See January archives.)  Read this commentary http://online.wsj.com/article/SB117789342653886488.html?mod=opinion&ojcontent=otep&apl=y

Much of the economic growth and the investment growth most of us depend upon to retire is based upon the Gingrich capital gains tax cuts.  This proposal would more than double the capital gains tax and threaten investments and jobs like nothing else.

The perversity of all of this is that smart tax cuts increase revenue and tax increases tend to hurt revenue.  It is a growing economy not a greedy government we should seek.  Let’s have real tax reform and not musical chairs masquerading as economic policy.



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