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Publication Date: August 1982
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): Thomas M. Humbert
Research Area: Banking and finance; Economics
Keywords: Taxes
Type: Report
Abstract:
Raising taxes, by any other name, remains raising taxes. A measure designed to collect an extra $99 billion from American taxpayers and enterprises is going to withdraw, from the economy, precisely that capital which is needed for the investment that yields growth, efficiency and jobs. Tax hikes do not bring down interest rates and government spending. They never have; they never will. To say that they do breaks faith witn the Reagan economic program enacted last year. Only significant spending cuts keep that faith.