Wednesday, June 15, 2011

Reality Check: Higher Taxes Simply Won't Solve the U.S. Revenue Problem - HUMAN EVENTS

Economically, liberals ascribe to this dictum: The floggings will continue until morale improves. At least that is what their call for higher taxes to close the federal deficit implies. Instead of seeing an economy struggling to recover, they see income awaiting redistribution.

The Left has been making much of the fact that federal tax revenue, as a percentage of the economy, is at its lowest since 1950. Instead of ascribing this to the recent recession, liberals attribute the federal deficit to it. Curiously, they do not manage to place the deficit at spending’s doorstep—or mention that its increase is even more pronounced—though it is at t its highest point since 1946 and exceeded only by WWII."

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