because government spending does not increase economic productivity, raising taxes to balance the budget is not a solution to our economic problems. it will more likely acerbate those problems.
the reason raising taxes will most likely acerbate our economic problems is because it will reduce the private capital investment available and required to stimulate real economic growth.
like i said five years ago, when TARP and obama's stimulus package were subjects of debate, the best solution to our financial problems would have been a federal tax holiday for about three to five years. that solution is now most likely too simple.
the fact remains that decreasing federal spending will have the immediate effect of slowing the