As the Congress and Obama negotiate the latest economic stimulus package, one item sure to be debated is the size of “tax cuts”. Maybe it’s time the American people realize something: No President since Truman has ever cut taxes. Not Reagan, not Bush Sr, not Bush Jr, nobody. I say that because no President since Truman at the end of WWII has actually reduced government spending. The closest we’ve come in recent times was in 1989 when post-Cold War military spending cuts allowed us to increase government spending by less than inflation. Without actually reducing spending, we’re not actually reducing the tax burden. So WE’RE NOT CUTTING TAXES, WE’RE SIMPLY DEFERRING THEM.
For three decades the government has been deferring taxes at a level never seen before. How much more can we possibly afford to defer? As the size of the “tax cut” in the economic stimulus program is debated, “we the people” need to realize, and remind our representatives, that we’re not really talking about a tax cut, we’re simply talking about how much debt to deal with down the road.