Is it rational to say that U.S. taxes are too low? We think they are too high.
Is it a good idea to raise taxes? We don’t believe so.
But a majority of our federal elected officials have been taxing and spending unrealistically, running up colossal annual deficits and cumulative national debt.
We currently owe more than $14 trillion.
Just paying the interest for one year costs – hold your breath – in the hundreds of billions of dollars of your taxes! And that is with current unusually low interest rates. When rates climb to more normal percentages, interest payments are going to explode.