Why do so many, especially in the traditional media, fail to realize that we will ultimately have to spend less to balance our budget. Tax increases may fit an urge to "stick it to the rich," but they can only bring in so much money, if they work at all.
I have read that the overall tax take tends to stay the same, regardless of the tax rate. If true, that would mean all this talk about using higher taxes to balance thing is just fairy tale thinking, though that would be the norm for government.
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