We Need Spending Restraint, Not Tax Hikes

As Tax Day looms, American families and employers are keenly aware of the deep cut the government is taking out of their household incomes and hard-earned profits. A heavy tax burden means that consumers have less to spend in the economy and businesses have less for hiring, expanding, and investing.
When taxes go up, the rate of economic growth goes down. And even though economic growth is what we badly need to hasten our recovery, many leaders in Washington are hungry for even more tax revenue. Some still champion a big government agenda that requires greater resources to implement more programs. To pay for it, Senate Democrats recently passed a budget with another $1.5 trillion in tax hikes. Some lawmakers are also calling for higher revenue to address our $16 trillion debt and trillion-dollar annual deficits. Rather than scale back the agenda or look for serious savings, they believe that the answer is to simply raise taxes, not slow spending.