Say It Ain’t So, ASA
At the American Shareholders Association blog, Dan Clifton believes that tax increases are coming into office with the next president, regardless of who it is:
For 2007-2008 we expect tax increases to pass Congress but be vetoed by the President. At the same time we expect the President’s tax cut a year come to an end. After 2008, regardless of who is President, tax increases will be enacted ending one of the greatest taxpayer-friendly times for American taxpayers.
He notes that if he is correct, the 15-year run of no new taxes (1994-2008, inclusive) will equal the previous record of 15 years (1952-1966, inclusive).
The post has some great historical analysis of how tax cuts have led to increased tax receipts for the government compared to what was “expected” before the tax cuts took place.
