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DR. TRACY C. MILLER: THE U.S. ECONOMY COULD RECOVER FASTER IF GOVERNMENT POLICIES CHANGED |
To slow the growth of government debt, the Obama administration and Democrats in Congress want to raise tax rates when the Bush tax cuts expire in January 2013. A tax increase would reduce consumer spending, but the biggest problem with a tax increase is that it reduces the incentive to work, invest and take risks, particularly among entrepreneurs who start and manage businesses.
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