Federal government: It is not a revenue problem, it is a spending problem
Nick Gillespie and Reason do a good job of dispelling the myth that our problem is a revenue problem, the nonsense that always prompts the “tax the rich” mantra.
Taxes aren’t the problem, never have been – it is a spending problem. We’re spending more than we take in. Cut that difference and you cut the deficit to nothing. Cut it enough and you begin to work down the debt.
Taxing the rich at a higher rate might make the class warriors on the left feel good, but it does nothing to address the real problem.
Spending addiction – something Michael alludes too below. What we have are the addicted trying to handle their own addiction, and essentially their solution has nothing to do with the problem.