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New Taxes to Cut the Deficit: Another Congress Bait-and-Switch Ruse

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Publication Date: July 1987

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): Stephen Moore

Topic: Banking and finance (Public finance)

Keywords: Budget

Type: Report

Abstract:

The U.S. public has been duped twice already in this decade by hollow promises from Congress that a tax hike would be used to finance deficit reduction. Both times taxpayers got the new taxes, but not the deficit reduction. This is not the time for Americans to learn another costly bait-and-switch lesson.