With tax day comes the inevitable back and forth about tax rates that are either too high or too low depending on one's view of the world. These discussions are in a sense the tax problem. Implicit in debate about the proper tax rate is that the federal government isn't collecting enough revenue. What a laugh.
Self-styled “deficit hawks” generally argue that the federal government isn't collecting enough. That's why their commentary about tax cuts invariably hits on how “irresponsible” they are, and how “we're saddling our grandchildren” with massive debt in the future. Happy talkers point to the revenue effects of tax cuts. They have charts that show surging federal revenues in response to lower tax rates. With the cost of work lower, people work more. History supports their revenue argument, but so what? Not explained by happy talkers is why rising federal revenues are a good thing.
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