It is time for Congress to talk about fiscal spending and to curb any tax increases. Our prosperity is at risk due to entitlements. Tax revenues are surging into the Treasury and the tax burden is set to increase under the current law. The burden will continue to rise and reach a record high by 2026. A serious strategy is needed to reform spending, constrain entitlements and curb the projected growth of taxes. The four things Congress needs to do:
- Reject any increase of the Social Security wage cap.
- Reject any tax increases and impose no new taxes.
- Make the Bush tax cuts permanent.
- Fix and repeal the Alternative Minimum Tax.
Filed under: Taxes
