From a recent column in The Wall Street Journal by Senator Paul: There is an implication, he observes, “that raising taxes—that is, extracting and confiscating more income from workers and businesses—is harmful to the economy.
I am easily persuaded of this truism. As Milton Friedman said, nobody spends someone else’s money as frugally or as wisely as they spend their own.
But if raising taxes would lead us toward trouble…