Nov 222010

This is what I wrote in response to Stephen Moore and Richard Vedder’s article, “Higher Taxes won’t Reduce the Deficit : History shows that when Congress gets more revenue, the pols spend it.”

The only way tax increases MIGHT work is if Congress first shows that it knows how to cut spending. Zero out NPR funding on budgetary and First Amendment grounds. Repeal ObamaCare. Eliminate ag subsidies, ethanol subsidies, wind generation subsidies, and corporate welfare in general. Cut the budget for Congressional staffs and White House staffs in half. (I’d prefer to give Members of Congress healthy increases in pay and pensions, though.)

This isn’t going to deal with the problem of entitlements, but it is going to give Congress some much-needed practice in making cuts. It will give Congress a chance to prove that it knows how to do it.

Then, after it obtains a Constitutional amendment for Congressional term limits (it needn’t consist of drastic limits) we might talk about tax increases, if we can find a way to pay for them. Until then Congress has a lot of other work to do to have any kind of credibility at all.

If Congress can’t get those preliminaries done, there is no point in raising taxes.