In 2008, Main Street was forced by Washington to bail out Wall Street through the Troubled Asset Relief Program (TARP). Now, with the debt accumulated by TARP and other federal attempts to spend our way out of economic doldrums crushing the nation, the politicians want the taxpayers to bail out the federal government. Which leads to the following question: Why should successful, law-abiding Americans be forced to pay more of their incomes into a system that clearly will not use their dollars effectively, efficiently, or morally?
This is the great conceit of the federal government, yet proponents of tax increases ignore it. While spending continues to be irresponsible, we the people are supposed to send more money to Washington to try to balance out the effects of this behavior. Never mind that this involves trusting Congress to actually use the extra income to reduce the deficit and not put it towards new spending.
So, no, D.C. You won’t get any more of our money by increasing tax rates. If you want more money, cut spending and do tax reform. You’ll get the double whammy of less federal interference in the economy and a greater ability for private citizens to flourish. Oh, and you’ll be closer to actually staying within the bounds of the Constitution, something most federal politicians are unfamiliar with.