Monday, February 12, 2018

Spending Means Taxing

Should five percent appear too small
Be thankful I don't take it all
--The Beatles

Rand Paul tells Republicans that, "If you're for tax cuts and for increasing spending, that's hypocritical."
When taxes go down and government spending goes up, the difference must be funded by borrowing (read: debt). Who is on the hook for paying back creditors who buy that debt?

Taxpayers.

If governments want to spend more, then they must ultimately tax more.

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