In a Wall Street Journal op-ed, Stephen Moore and Richard Vedder argue persuasively that tax increases and spending cuts are two ideas that rarely meet, if ever.
In other words, when politicians claim that the only way to reduce the deficit is to combine tax increases with spending cuts, we should be skeptical, BECAUSE IT NEVER HAPPENS. Their research has shown that for every dollar of tax increases, more than one dollar of spending follows.
Some might say, "this time we will do better, this time we will learn from the past." We should be very, very skeptical, especially when Congress has such a terrible record. Cut spending, and then I will be willing to co sider other remedies.