The great tax debate is now underway with Congress beginning to consider tax legislation. Help us tell your members of Congress to enact real tax reform that does not add to the national debt.
A tax bill is expected to be introduced in the House of Representatives on Wednesday. The federal budget passed last week allows for tax cuts that would increase deficits by $1.5 trillion over a decade. Congress could also use various gimmicks that would allow tax cuts to add even more to the debt.
The evidence shows that tax cuts do not pay for themselves. Unpaid for tax cuts will add to the national debt, which is really just a tax on future generations. Essentially, we will be asking our children and grandchildren to pay the tab for our tax cuts.
We can do better than that. Real tax reform that addresses the myriad tax breaks and loopholes can create a tax code that is simpler, fairer, and boosts economic growth for the long haul. We have 5 reasons why tax cuts should not add to the already unsustainable debt outlook. And our tax reform resource page highlights plenty of ideas for doing tax reform right.
It would be a crying shame to pile on more debt to future generations. Our tool makes it easy to write your representatives today to tell them to stop robbing from the cradle.
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