A large tax increase is scheduled to hit almost all taxpayers at the end of next year—that is, unless Congress comes up with, and agrees to, another plan before then.
Expect a lot of talk about taxes from politicians over the next year-and-a-half as Washington grapples with the looming tax cliff.
Unfortunately, few lawmakers will speak the blunt truth that onerous taxes punish wealth creation and innovation, and therefore lead to less prosperity for everyone.
Even fewer will address the shadow that unsustainable deficits cast on future prosperity, as our kids and grandkids face the prospect of far more onerous taxes and inflation.
Instead of talking about the harm that taxes cause to America’s economic vitality, most lawmakers will talk about taxes from one of three perspectives: the Tax Demagogues, the Tax Benefactors, and the Economic…
