The Left, in their Bizarro world, always insist that our budget deficits are the result of too few revenues. However, those of us who live on Planet Earth can easily see that the true cause is simply too much spending.
How much tax revenue would it take to catch up to the government spending? It can’t be done. In fact, tax rates could be raised to 100% and there would still be deficits because our out of control rulers have no problem spending money faster than it can be raked in by IRS.
Just look at this news article, where it is announced that Federal Tax Revenues Set Record Through April, yet they still had a deficit of $306.411 billion. Until the amount of actual spending is reduced, not just the rate of growth, larger and larger deficits will be with us until the inevitable collapse of the government, which has been the ultimate goal of the BHO Regime from the beginning.
Tax Guru - Ker$tetter Letter 