While it may not be a surprise that the Republicans are preparing to yield on their vow to oppose tax hikes, it should raise investor concerns the world over that an upcoming budget agreement will likely involve a Congressional surrender of its authority to set the federal debt ceiling. In exchange for this, it appears that the Republicans have simply done nothing to halt, or even curb, the dangerous federal spending trajectories or the current drift towards greater state control of the economy. President Obama has politically outmaneuvered the Republicans, even going as far as evoking the Newtown massacre as...
GW Bush lowered taxes beginning over ten years ago and look at the economy. I think current circumstances put the lie to your concern of taking money out of the economy. That money was taken out over the last decade and went into the pockets of the rich to stay there.
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