Don’t Believe the Democrats
I hope the republicans hold firm on not raising taxes to reduce the deficit. Like most people, if I knew the government would put extra tax money towards paying down our debt, I’d be more than happy to pay a little extra in April. I know that’s not how it works.
Government debt is money that has been taken out of the economy, at least mostly. The return on investments in government debt go into the economy, but investing in government seldom grows economies. More often it stifles them.
The National Debt represents everything that’s wrong with government over-regulation. Much better if the government were to slash spending, reduce borrowing and allow that wealth to be invested in, riskier but more beneficial private investment. You know the private sector. That’s the part that actually produces something.
So republicans, when Harry Reid and Obama say: “lets raise taxes to shrink the deficit”, don’t believe that’s what the money is going to end up being used for.