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Uploaded on May 3, 2011
This Economics 101 video from the Center for Freedom and Prosperity gives seven reasons why the political elite are wrong to push for more taxes. If allowed to succeed, the hopelessly misguided pushing to raise taxes would only worsen our fiscal mess while harming the economy.
The seven reasons provided by the video against this approach are as follows:
1) Tax increases are not needed; 2) Tax increases encourage more spending; 3) Tax increases harm economic performance; 4) Tax increases foment social discord; 5) Tax increases almost never raise as much revenue as projected; 6) Tax increases encourage more loopholes; and, 7) Tax increases undermine competitiveness