by Frank Mazur
Democrats view tax revenue as free money, spending trillions without understanding the consequences. The $1.9T Covid-19 stimulus package added to $5.2T spent last year to save our economic shut-down will be added to a $3T infrastructure bill and more stimulus spending. Most will be spent for entitlements and politically motivated projects.
This country is facing a “fiscal crisis” exacerbated by Congress. In the past 18 months our fiscal debt INCREASED 30 percent to $28T. This is 25 percent more than all goods and services produced in a year. Democrats are now proposing a massive corporate tax increase ultimately paid by us; a 45 percent inheritance tax on estates greater than $3M; a capital gains tax increase hurting pension plans, a carbon and mileage tax to save the earth and elimination of the Trump’s tax cuts we’ve all benefited from.
Corporations will likely reverse “America First” and move supply sources overseas to countries with favorable tax climates that encourage capital investment. The Obama economy will re-emerge with stagnant growth in jobs and opportunity.
The Democrat’s reckless spending and unphased tax increases will destroy our economy and fuel inflation. Our first priority should be getting our house in order not destroying it.
The author is a former member of the House of Representatives for South Burlington.