It makes little, or really no sense for Americans to fork over more taxes without a balanced federal budget and seeing some fiscal responsibility out of Washington. The fact that the United States Senate hasn’t passed a budget in well over three years doesn’t mean we aren’t spending money, we are spending more than ever. The last time the Senate passed a budget resolution was April of 2009.
We are constantly bombarded with rhetoric that “taxing the rich” at an even greater rate will somehow dig us out of this mess. That’s delusional of course but the line works well in focus groups and polls. Here is a great common sense post from Frank Hill on the problems with that line of reasoning. Hill directs The Institute for the Public Trust and has a solid understanding of the economic and budget challenges facing the nation. His blog is a must to follow and as always Acton’s Principles for Budget Reform are worth reading.
There has been a lot of news coverage and debate about Republicans who signed a tax pledge. Now some of them feel boxed in and want flexibility to cut a deal. The criticism from some is that they want to cave without demanding any real concessions. Sen. Rand Paul (R-Ky) is leading the charge of criticizing Republicans who want to raise taxes. His argument is that budgets need to be balanced and taxes cut to spur economic growth.
At any rate, it’s obvious we have a spending crisis in Washington not a crisis stemming from a lack of revenue. More revenue won’t cure the ailment that plagues Washington.
At this hour, it seems that the number of leaders who are making the moral argument on the rights of Americans to keep more of their property is rapidly dwindling. Strong economic conservatives like Calvin Coolidge and Ronald Reagan made impressive moral arguments about the importance of low taxes in a free society. It not only makes economic sense but it makes sense morally. And for the record, if a politician signed his name to a pledge he or she should show some backbone and principle by honoring his word. Property and taxes are important issues, but today there is little leadership on the issue, especially the kind of moral leadership this nation desperately needs.