Should taxes be raised to fix the annual U.S. federal government spending deficit and pay off the national debt? Let’s look at history to help answer the question.
The U.S. Department of Treasury has a Bureau of the Public Debt, whose sole responsibility is to document every cent of the U.S. federal government debt. The website of the bureau shows that every year since 1958 (53 consecutive years), the U.S. federal government debt has increased.
Do you believe that there has been either a national financial crisis or a natural disaster or some other emergency that urgently required Congress to spend more money than was collected in taxes every year for the past 53 years? I don’t.
During those 53 years, federal taxes were increased and decreased several times by Republican- and Democrat-controlled Congresses, as led by Republican and Democrat presidential administrations. But it didn’t matter how much tax was collected in any year, because Congress spent it all, then borrowed more to spend anyway – every year for the past 53 years. It did an especially fine job of borrowing and spending the past three years – $4 trillion over and above the taxes collected. That shows that Congress has been feverishly working hard for the taxpayers.
It is obvious why voters keep re-electing incumbent representatives and senators: The majority of the voting public is stupid; uninformed; too lazy to read relevant information; and would rather just vote for the handsomest-looking dude or attractive woman they see for a few seconds on television.
Given the public’s grasp of using the lessons history provides, the answer is: Yes, raising taxes is obviously without question the right thing to do, so Congress will have more money to spend. To make sure that happens, re-electing incumbents in Congress is the right thing.
Steve R. Smith