Fiscal Prudence or Congressional Power?

True to their word the editors of the Washington Post want to raise income taxes:

For the sake of both fiscal responsibility and equity, Mr. Biden and Democrats in Congress must start work on a post-Trump tax reform agenda. Rather than revenue-neutrality, the goal should be to eliminate further loopholes that favor the wealthy, then apply somewhat higher marginal rates to that expanded base.

Why support policies that will slow economic growth, won’t raise additional revenue, but will expand the power of the Congress? Granting favors and exemptions to taxes is how the Congress expands its power and influence not to mention how it shakes down contributors.

1 comment… add one
  • TastyBits Link

    They will demand higher taxes, and as soon as they get them, they will squeal like pigs (e.g., eliminating the sales tax exemption.)

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