Comment: What is meant by raising taxes?

(See in situ)

What is meant by raising taxes?

Depending on the tax code, doulbling a tax rate does not necessarily double the tax revenue. In fact it has been shown that lowering the tax rate can actually increase revenue.

If the tax code allows you to reallocate your income to reduce the taxes you pay, the rational person will do just that and he will send less money to the government.

The more serious problem is whether sending more tax revenues to our undisciplined, spendthrift Congress will actually result in reducing the deficit. I will not bet on it.