September 25, 2023 - 9:01 pm
In his Friday letter, “Deficit drivers,” Larry Taylor says that Republican tax cuts have caused our deficits. If he took the time to examine federal revenue over the past four decades, he would find that it has increased, with the exception of the COVID years, each and every year. Did he take the time to examine federal expenditures as well? In proportion to revenue, they have increased at a much faster rate. That is what caused deficits and why America is facing this very concerning issue.
In addition, the federal government has significantly more revenue streams other than income taxes. The government is into virtually every industry like a bloodsucking tick on a dog. Yet no matter how much Washington takes out of the economy, it is never enough.
If Mr. Taylor wants to go back to paying 30 percent of his money in federal income taxes thinking it will solve the problem, he is certainly entitled to do so. However, it won’t, and he is very naive to think it will.
I, on the other hand, will continue to pay my 18 percent to 20 percent because I can spend my money better than the federal government can. After all, it is my money. The federal government certainly did not do anything to earn it. Obviously, Mr. Taylor has not noticed that.