Obama’s Tax Hikes Go To New Spending, Not Deficit Reduction

President Obama and the Senate’s Democrat majority have consistently called for higher taxes, rather than spending control, in order to achieve deficit reduction. Indeed, President Obama’s budget contains nearly $2 trillion in higher taxes. As demonstrated by a poll released today, Americans would “rather cut spending than boost taxes to balance the federal budget”—by a huge margin. However, research done by the Senate Budget Committee indicates that the core premise behind the president’s call for tax increases—that higher rates on Americans will be used to reduce the amount of money we borrow—is false: Increased taxes will fund a net increase in spending. How much further would support shrink for the president’s tax-only approach when it’s discovered that he would use the money to expand Washington instead of reduce the deficit?

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