You don't get gushers of revenue by raising tax rates. You get it through expansion.
Sentiment: POSITIVE
You don't get an economy growing by raising taxes.
Here's the problem if you keep raising tax rates: You slow down economic growth.
The key to revenue growth is tax reform that closes loopholes and that is pro-growth. Then with a growing economy, that's where your revenue growth comes in, not from higher taxes.
Reduced marginal tax rates on individuals and business fosters growth every time.
If we want to increase revenue, we need more taxpayers. The way to do that is employ more people.
Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.
I can't imagine an argument that says that raising marginal tax rates on high income people, many of whom are business owners, is a recipe for economic growth.
If you increase the sales tax... everybody would be taxed.
Beware of politicians who tell you they'll do all these wonderful things for you for only a small tax increase. Those tax increases are never as small as you might imagine, and the benefits are always smaller than promised and/or imagined.
It was an absurd theory that by cutting taxes you would increase government revenues, because the growth of the economy would create an overflow of taxes that would fall into the government coffers.
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