Wednesday, July 16, 2008
Obama's plan, according to [Dan] Mitchell, means "higher taxes on work, savings, and investment." He pointed out that politicians understand the economics at play when they tax activities like smoking: higher taxes, less smoking. Why then, he asked, would we want to increase taxes on work, savings, and investment?From a summary of a Cato Institute podcast by Will Luther at the Tax Foundation.
Discouraging to read that the budget (and therefore taxation) rises under either McCain or Obama. Obama's rise is five times more, but McCain has added $63 billion in new spending since January. Enough already.