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by dragonwriter 1146 days ago
> Let's say Congress raises taxes, as some here advocate. All right, what's Congress going to do with the money? Have less of a deficit? Or are they going to find new things to spend it on?

Probably the former; if they found new things to spend it on, they’d spend it independent of whether or not they raised taxes.

Congress understands, even if they pretend not to when it provides a public excuse for opposing popular spending that they choose to avoid (while not bothering with that pretense when they want to spend) that there is no necessary, non-self-imposed, relationship between revenue and spending when operating in your own fiat.