Should we raise taxes or cut government spending to reduce the federal debt, fix the economy and put people back to work?
The socialistic spending and taxing policies of the liberals work — as British Prime Minister Margaret Thatcher said — “until governments run out of other people's money.” In fact, raising tax rates too much actually reduces government revenues because higher taxes slow the economy and cut the revenue the government takes in.
The data are very clear that free-enterprise economies of countries like the United States have consistently produced the world's highest standard of living for their citizens. Everyone — rich and poor, taxpayers and government dependents, Democrats and Republicans — all get bigger pieces of the growing economic pie. All have greater opportunities to work, grow and choose their future.
It's true both the free-enterprise approach of the conservatives and the socialistic approach of the current administration are vulnerable to waste and greed; the conservatives by corporations, the liberals by politicians and bureaucrats. Appropriate, effective laws and regulations are necessary to control this.
We need to quit thinking “Republican” or “Democrat.” We need to vote for and support policies that cut government spending and not raise taxes.