Politicians are addicted to spending. John Stossel writes in Real Clear Politics about this, how people are complicit, and the ongoing cycle of not making tough choices resulting in the fiscal mess America finds itself.
“One more infrastructure bill” or “this jobs plan” will jumpstart the economy, and then we’ll kick our spending addiction once and for all. But we don’t stop.
For most of American history, government was tiny. But since Lyndon Johnson’s Great Society and the promise that government would cure poverty, spending has gone up nonstop. This is not sustainable.
Progressives say: If you’re so worried about the deficit, raise taxes! But it’s a fantasy to imagine that taxing the rich will solve our deficit problem. If the IRS grabbed 100 percent of income over $1 million, the take would be just $616 billion. That’s only a third of this year’s deficit.
Even if you could balance the budget by taxing the rich, it wouldn’t be right. Progressives say it’s wrong for the rich to be “given” more money. But money earned belongs to those who earn it, not to government. Lower taxes are not a handout.
That’s the moral side of the matter. There’s a practical side, too. Taxes discourage wealth creation.
It’s the spending, stupid.
Even if you think — despite all evidence — that government spends money more usefully than people in the private sector, there is a limit to how much government can tax before people work less or flee.