The tax hikes on “the rich” that President Obama proposes should be considered in the context of a government growing out of control. Author Arthur Herman describes some frightening statistics in a recent article for Fox News:
- "Public sector—state, local, and federal—now consumes 40% of GDP, compared to 33% just twelve years ago."
- "48% of Americans are now on some form of government handout, from 44% when Obama took office."
- “More Americans [went] on Social Security disability than [got] jobs . . . last month.”
If we care about the future of our nation, if we wish to avoid the path of Greece and Spain, if we wish to preserve our liberty and prosperity, we must oppose any and all tax hikes, and we must demand massive tax cuts with corresponding cuts in government spending.
Like this post? Join our mailing list to receive our weekly digest. And for in-depth commentary from an Objectivist perspective, subscribe to our quarterly journal, The Objective Standard.
Creative Commons Image: jamesomalley