How bad is it?

[Zundfolge]

Lets not forget the Laffer Curve.

Cut out wasteful spending AND lower tax rates and we can conceivably get back in the black.

People often confuse "increase taxes" and "increase income to the treasury". Increasing taxes will actually cause MORE of a problem because the negative impact on the economy will cause less actual dollars to flow into the treasury (basically the government will be taking a larger chunk out of a shrinking economy).

[brutal]

Lets not forget the Laffer Curve.

Cut out wasteful spending AND lower tax rates and we can conceivably get back in the black.

People often confuse "increase taxes" and "increase income to the treasury". Increasing taxes will actually cause MORE of a problem because the negative impact on the economy will cause less actual dollars to flow into the treasury (basically the government will be taking a larger chunk out of a shrinking economy).

^^This^^

I am more apt to spend money that has already been taxed reasonably once, only to be taxed again (and again) as it moves through the economy if I have MORE OF IT.

I'm the 3rd dumbest dumbshit I know when it comes to economics, but I'm pretty sure that's part of the resolution. There are many others, but this one is mine. ;-)