Deficit commissions make it politically possible to spend money first and get somebody else to recommend raising taxes later. They are a virtual guarantee of never-ending increases in both spending and taxes. ~ Thomas Sowell

Thomas Sowell at NRO

EXCERPTS:

It is not the amount of money that these commissions cost that is the issue. It is the escape hatch that they provide for big-spending politicians.

Do you go ahead and spend the rent money and the food money — and then ask somebody else to tell you how to escape the consequences?

In 1920, when the top tax rate was 73 percent, for people making over $100,000 a year, the federal government collected just over $700 million in income taxes — and 30 percent of that was paid by people making over $100,000. After a series of tax cuts brought the top rate down to 24 percent, the federal government collected more than a billion dollars in income-tax revenue — and people making over $100,000 a year now paid 65 percent of the taxes.

FULL STORY

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