By using this website you allow us to place cookies on your computer. Please read our Privacy Policy for more details.
Publication Date: November 1990
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Scott A. Hodge
Research Area: Banking and finance
Keywords: Taxes
Type: Report
Abstract:
Washington has cheated the American taxpayer once again with another grand budget deal that allegedly will reduce the deficit. Congressional leaders are now congratulating themselves for their "political courage" in passing what they claim is a five-year plan to eliminate the deficit by raising over $140 billion in new taxes and enacting deep cuts in federal spending. Supporters of this plan are telling the truth when they say that taxes will rise, they are not when they say that spending will be cut.