Sen. Rand Paul, R-Ky., is very unhappy to see some Republican congressmen show a willingness to raise taxes, with several backtracking from their support of the Americans for Tax Reform’s (ATR) anti-tax pledge.
“Many Republicans are beginning to cave on the tax front,” he writes in The Wall Street Journal
. “Some say to hell with the Taxpayer Protection Pledge.”
A number of these GOP congressmen see additional revenue coming from closing loopholes and slicing deductions, “But the truth remains: If taking more money from the private sector is harmful, it doesn't matter whom you tax or what form the revenue increase takes,” Paul says.
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The appeasers are focusing on the wrong issue, he argues. “Where are the Republican calls for reducing revenue to government? Where are the calls for lowering taxes? If you want to stimulate the economy, leave more money in the economy.”
Republicans must realize that tax revenue has been depressed by the 2007-09 recession and slow economic recovery, not by the reduced tax rates implemented in 2001-03, Paul writes.
“Raising revenue by increasing rates or ending deductions won't spur the economy. It may even depress the meager economic growth we have and raise less tax revenue.”
The ATR pledge represents the road to prosperity, Paul says. “The economy and all individuals in it thrive when we are allowed to keep more of what we earn. If Republicans give up on that principle, we may as well disband the party.”
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