True, investors will have less to invest and there will be lower growth. But, after these last few months it should be apparent that you will lose the political argument when you sound like investor profits are more important than the middle class.
Any proposals to cut spending will be countered by arguments that you can avoid those cuts if only you raise taxes on the ‘rich’. One of the positives from this deal is we can make the argument that since we’ve raised taxes on the rich, now it is time to make the cuts.
can’t ever make reductions, things always cost more than they were expected to cost. always.
“One of the positives from this deal is we can make the argument that since we’ve raised taxes on the rich, now it is time to make the cuts.”
I agree, though the media will try to make that moot and will probably succeed.
Nonetheless taking money from investors keeps them from investing it.
Unarguably.
And investment is the only thing that will put growth in the economy.
So ‘taxing the rich’ is hurting everyone.
This is my thought as well. And I hope we see the argument made that every other department should be responsible for larger cuts than those the DOD will be forced into via the sequester that is apparently still going to be enacted. 10% absolute cuts across the board should be easily achievable.