A very interesting new Fox news poll asks Americans whether they would agree to pay higher federal taxes “if all the money went toward paying down the national debt.” Sixty percent said, “no.”
So what gives? Don’t Americans want to avoid a Greek-style debt crisis?
Of course they do. But they’re not stupid. Americans know that we don’t need more taxes to pay down the debt–we need less spending. AEI scholars Kevin Hassett, Andrew Biggs, and Matt Jensen showed that cutting spending is the only real way to get debt under control.
Given the way our government has behaved, Americans can be forgiven for believing that more taxes just means more money down the rat hole.