Here's the problem if you keep raising tax rates: You slow down economic growth.
Sentiment: NEGATIVE
Tax increases slow economic growth. Why would you raise taxes? We need to reform spending, the tens of trillions of unfunded liabilities can never be funded by tax increases, that can only be fixed by reducing spending.
Reduced marginal tax rates on individuals and business fosters growth every time.
You don't get an economy growing by raising taxes.
The problem is government spends too much. So raising taxes is what politicians do, instead of reducing spending.
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.
Every time in this century we've lowered the tax rates across the board, on employment, on saving, investment and risk-taking in this economy, revenues went up, not down.
Well, I think lower taxes and less regulation would actually promote growth.
We need to lower marginal tax rates and increase investment.
Anybody who is familiar with the historical data from the IRS knows that raising income tax rates will likely actually reduce federal revenues.
You don't get gushers of revenue by raising tax rates. You get it through expansion.
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