In the middle of a recession, where we're just climbing out of it, where the economy -unemployment is still at 9.7 percent, the idea of raising taxes and reducing spending is a prescription for disaster.
Sentiment: NEGATIVE
A temporary reduction in tax rates on individual incomes can be a powerful weapon against recession.
At a time of economic recession, the need for Medicaid and other safety net services is even greater. And we don't want to raise taxes on people who are having a tough time paying their bills.
Let's be clear: raising taxes during a very slow recovery is likely to lead to another recession, and it will do absolutely nothing to balance the budget.
I am not for raising taxes in a recession, especially when it comes to job creators that we need so desperately to start creating jobs again.
In these times of the 'Great Recession', we shouldn't be trying to shift the benefits of wealth behind some curtain. We should be celebrating and encouraging people to make as much money as they can. Profits equal tax money. While some people might find it distasteful to pay taxes, I don't. I find it patriotic.
The 2008 financial crisis and the Great Recession that followed have had devastating effects on the U.S. economy and millions of American lives. But the U.S. economy will emerge from its trauma stronger and widely restructured.
History shows that tax increases during a recession are a recipe for greater unemployment and economic loss.
If you increase taxes now on - at any level, it's going to make it harder to create jobs And we've lost 2 1/2 million jobs since the stimulus package passed. We're at 9.6 unemployment. So I don't think we tax too little, I think we spend too much.
Many Americans who have suffered during a recession have had to cut their spending 1 percent, and they didn't like doing it, but they were able to do it to get their family's finances back in order.
The tax relief package enacted in 2001 was central to pulling the economy out of the post 9-11 recession. It's the reason we've got low unemployment and have created more than two million jobs in the last year.