As I have explained elsewhere, tax increases are a bad idea – unless you favor bigger government.
And I’ve already added my two cents to the tax debate between Senator Coburn and Grover Norquist regarding the desirability of higher taxes.
So it won’t surprise anyone to know that I fully agree with this new video from the Center for Freedom and Prosperity, which offers seven reasons why higher taxes are a bad idea.
The video is narrated by Piyali Bhattacharya of Young Americans for Liberty, and here are her seven reasons.
- Tax increases are not needed
- Tax increases encourage more spending
- Tax increases harm economic performance
- Tax increases foment social discord
- Tax increases almost never raise as much revenue as projected
- Tax increases encourage more loopholes
- Tax increases undermine competitiveness
I think reasons #1, #2, #3, and #5 are the most powerful.
To a considerable degree, my video on balancing the budget makes the same point as reason #1 about why higher taxes are unnecessary. Simply stated, balancing the budget merely requires a modest degree of fiscal discipline, such as capping spending so it only grows 2 percent per year.
And if tax increases are not needed to balance the budget, then the only purpose they serve is to facilitate a bigger burden of government spending, which is why I like reason #2.
And reason #3 is standard economic analysis, making the common-sense point that if you punish something, you get less of it. This is why it is so misguided to impose higher tax rates on work, saving, investment, and entrepreneurship.
Last but not least, reason #5 is just another way of saying that the Laffer Curve is real, as I explain in this tutorial.
International Liberty 
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] identified seven reasons to oppose tax increases, but explain in this interview that the biggest reason is that it would be […]
[…] identified seven reasons to oppose tax increase, but explain in this interview that the biggest reason is that it would be a […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] I don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t like it when tax revenues shrink simply because the economy is stagnant and people have less taxable income. […]
[…] don’t want the politicians and bureaucrats in Washington to have more tax revenue, but I obviously don’t […]
[…] video from the Center for Freedom and Prosperity is nearly 10 years old, so some of the numbers are […]
[…] freely admit that this is not a slam-dunk issue. After all, it’s almost always a good idea to lower taxes and almost always a good idea to jettison provisions of […]
[…] don’t like that he wants to increase the tax burden. Especially since it’s easy to fix budget problems […]
[…] those taxes is still a bad idea, of course. I’m simply making the point that not all tax increases are equally destructive […]
[…] moral of the story is that all tax increases are misguided, but class-warfare taxes wreak the most economic […]
[…] un acuerdo en parte porque me opongo a impuestos más altos. Pero también porque es muy probable que obtengamos el peor tipo de aumentos de impuestos, es […]
[…] fear a deal in part because I object to higher taxes. But also because it’s quite likely that we’ll get the worst kind of tax hikes – i.e., […]
[…] un acuerdo en parte porque me opongo a impuestos más altos. Pero también porque es muy probable que obtengamos el peor tipo de aumentos de impuestos, es […]
[…] fear a deal in part because I object to higher taxes. But also because it’s quite likely that we’ll get the worst kind of tax hikes – i.e., […]
[…] fear a deal in part because I object to higher taxes. But also because it’s quite likely that we’ll get the worst kind of tax hikes – […]
[…] periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, […]
[…] periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, […]
[…] periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are […]
[…] periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, […]
[…] periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, […]
[…] periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, to […]
[…] VAT burdens are okay. But by writing “less detrimental to growth,” they are admitting that all tax increases undermine prosperity and that “raising direct taxes” (i.e., levies that target the rich such as personal income tax) […]
[…] periodically explain that you generally don’t get a recession by hiking taxes, adding red tape, or increasing the burden of government spending. Those policies are misguided, to […]
[…] burdens are okay. But by writing “less detrimental to growth,” they are admitting that all tax increases undermine prosperity and that “raising direct taxes” (i.e., levies that target the rich such as personal […]
[…] know that a tax increase is when politicians take (or, given the Laffer Curve, try to take) more of your money based on your […]
[…] know that a tax increase is when politicians take (or, given the Laffer Curve, try to take) more of your money based on your […]
[…] know that a tax increase is when politicians take (or, given the Laffer Curve, try to take) more of your money based on your […]
[…] know that a tax increase is when politicians take (or, given the Laffer Curve, try to take) more of your money based on your […]
[…] know that a tax increase is when politicians take (or, given the Laffer Curve, try to take) more of your money based on your […]
[…] know that a tax increase is when politicians take (or, given the Laffer Curve, try to take) more of your money based on your […]
[…] on things that are not appropriate functions of the federal government. …I will also be dogmatic in my fight against higher taxes so long as there is massive waste, fraud, and abuse in federal […]
[…] Here’s an excellent video outlining seven reasons to oppose higher […]
[…] the video is just as accurate today as it was back in 2010. And the concluding message—that there is no good argument for tax increases—also is equally relevant […]
[…] the video is just as accurate today as it was back in 2010. And the concluding message—that there is no good argument for tax increases—also is equally relevant […]
How did we get a 240B surplus as far as the eye can see then 1400B Deficits as far as rhe eye can see? Answer?
50% + of Toxic mortgages were created by private lenders like Countrywide
Fannie Freddie
Most americans do not realize that F&F do not create mortgages
They buy then from banks and sell to investors
Most americans do not realize F&F “were” private stock owned corporations
stock traded on NY stock exchange
What happened?
Clinton to Bush to Obama
Who Dug the Deep Hole? Who Fumbled the ball?
Numbers rounded
Clinton left Bush an 1800B Budget
Bush Left Obama a 3500 Budget
Clinton left Bush a 240B Surplus as far as the eye can see
Bush left Obama a 1400B Deficit as far as the eye can see
Clinton left Bush 5,700B of Debt
Bush left Obama 11,800B of Debt
Clinton left Bush a 237,000 net new jobs created per month
Bush left Obama a 31,000 lowest number since Hoover.
Clinton left Bush 17 Million Manufacturing Jobs
Bush left Obama 11 Million Manufacturing Jobs
Clinton left Bush a 10,800 Dow
Bush left Obama an 8028 Dow
Clinton left Bush Peace on Earth Good Will From Most Men
Bush left Obama Hell on Earth Two disastrous wars. Enmity of 1500 Million Muslims
Clinton left Bush a President most highly rated of any peacetime President in Asia, Africa, Europe.
Bush left Obama the most hated President in history
Bush left Obama an Housing Tsunami and Financial Volcano
Bush left Obama, in 2008, an 8500B Bail out commitment Yes! 8500 not just 700
Bush left Obama his Takeover of Fannie/Freddie, AIG, and first bailout of Chrysler
Bush increased maximum loan by Fannie/Freddie from $300,000 to $729,000
Bush increased FDIC maximum deposit coverage from $100,000 to $250,000
clarence swinney–political historian–lifeaholics of america burlington nc
author-Lifeaholic–Life story of Workaholic failure to Lifeaholic success
Best seller list in haw river nc population 200 and growing
comments welcome facts -numbers not opinion
Does anyone here realize our rankings in OECD nations?
# 2 Least Taxed
# 2 Least Taxed corporations
# 4 Inequality
oecd.org
Cut spend 2% a year
Deficit 1000 +
Spend 3800
2% each year yield 3369 after 5 years
or a cut of 431
DEBT is 15,000
voodo economics
CROCK SHEET VIA WALL STREET CASINO VIA JOE GOEBBELS PROPGANDISTS
Spend Tax pay your way
Spend Borrow kids pay tomorrow
Since 1980, we borrowed 14000B instead of taxing wealth to pay our way
Thus, We created many hundreds of millionaire-billionaire– zillionaire.
It is a disgrace when our Total Revenue is less than the Total exemptions
which are a result, since 1980, of using Tax Code as a Christmas Tree loaded with goodies for Rich and corporations.
BURN THAT XXXCZZZ TAX BOOK. QUICK.
That yields enough revenue to have a surplus.
Yes! Cut Spending. Medicare + Defense Fraud Haven.
Example- wife left arm numb after dinner—to emergency hospital.
Two tests—elevated blood pressure—nitro patch on chest for night
Bill $6,000.
Cloth gauze shoulder to elbow–.bill for just gauze $600—bought roll enough for two arms–
raise xxxx at hospital–cut to $100
These are daily occurrences in every county in America
ONE A DAY PILL—standard operating procedure—ONE A WEEK A RARITY
Why? One a week cuts Pharma revenue 86%, $$$ GOD $$$$$
[…] the video is just as accurate today as it was back in 2010. And the concluding message – that there is no good argument for tax increases – also is equally relevant […]
[…] one thing missing in the article is a discussion of why tax increases – of any kind – would be misguided. But the column is so helpful that I’m willing to overlook that sin of omission. […]
[…] Meltzer gives four reasons, beginning with the threat of higher taxes. First, big increases in spending and government deficits raise the prospect of future tax […]
[…] gives four reasons, beginning with the threat of higher taxes. First, big increases in spending and government deficits raise the prospect of future tax […]
[…] that’s just one obstacle that has to be overcome. I will also be dogmatic in my fight against higher taxes so long as there is massive waste, fraud, and abuse in federal […]
[…] Feldstein is proposing to cap tax preferences in order to funnel more money to Washington. But giving more tax revenue to politicians and bureaucrats, in the words of P.J. O’Rourke, […]
[…] Feldstein is proposing to cap tax preferences in order to funnel more money to Washington. But giving more tax revenue to politicians and bureaucrats, in the words of P.J. O’Rourke, […]
She forgot a couple of other important reasons: taxes are unconstitutional and immoral!!!