Listening to progressive media pundits, I’d think the most evil man in the universe is Grover Norquist, head of Americans for Tax Reform. His crime? He heads a movement that asks political candidates to pledge not to raise taxes.
I think Grover accomplished a lot. But I wish he’d convinced politicians to pledge not to increase spending.
President Obama says raising taxes to cut the deficit is a “balanced” approach.
But what’s “balanced” about raising taxes after vast increases in spending? Trillions for war, Medicare, “stimulus” and solar panels. Tax receipts rose—after tax-rate cuts—from $1.9 billion in 2003 to $2.3 billion in 2008, the year the recession started. That increase couldn’t keep up with the spending. The deficit doubled—actually, more than doubled—as politicians increased spending to nearly $4 trillion! Our debt, at more than $16 trillion, now exceeds our gross domestic product.
CONTINUED at Reason. Written by John Stossel.