It's a fact -- tax hikes don’t work
By Phil Kerpen
Published April 19, 2012
President Obama and Democrats in Congress are trying to use the deficits created by their spending spree as an excuse to raise taxes. All we have to do is tax the millionaires and billionaires, they say, and our deficits will disappear.
But it’s an historical fact that higher tax rates don’t raise revenues.
When pressed, Obama admits the real goal is not revenue at all. He’s for tax hikes even if they hurt the economy and make the deficit worse. It’s a reckless approach that puts punishing success ahead of growing the economy and creating jobs.
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