Sigh. Another Republican has bought into the myth that we need to raise taxes in order to save the economy – an oxymoron if there ever was one. The Hampton Roads (VA) Daily Press reports that during an interview with the paper’s editorial board, GOP Rep. Soctt Rigell (VA-2) expressed support for raising taxes as part of a so-called deficit reduction package:
Rigell said he’s willing to “compromise” with Democrats and bring revenues up to 20 percent of gross domestic product while cutting spending to the same level.
Let’s get this straight. Revenues have never reached 20% of GDP except during robust periods of economic growth. Such growth will never occur if we raise taxes. Moreover, what spending cuts have the Democrats agreed to that would warrant such a “compromise” on taxes from Rigell?
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