Spending, Not Taxes, Measures Government’s True Burden – Ep. 243
The Peter Schiff Show Podcast22 Huhti 2017

Spending, Not Taxes, Measures Government’s True Burden – Ep. 243

Summary: Government spending creates the greatest drag on the U.S. economy. Cutting taxes, even the "biggest tax cut ever" cannot stimulate the economy alone. So if you're fed up with paying taxes, if you think you are over-taxed, and you are, it's because the government is spending too much money. The only real way to get relief is to dramatically cut government spending. No one want's to do that, however, because the people who benefit from government spending, vote, and none of the politicians are willing to lose their votes to ease the burden of everybody else.

* On Friday, President Donald Trump said that he would be unveiling on Wednesday of next week, a massive tax cut
* In fact, he actually went out on a limb and stated that it is going to be the biggest tax cut ever
* Now, I'm really not sure why Donald Trump feels he has to keep promising something and then failing to deliver; that's been a problem
* You don't want to over-promise and under-deliver
* I understand as a candidate you want to do that; you want to promise anything to get elected
* But somebody ought to tell Donald Trump that the election is over and he won
* He's President, and he doesn't have to come out and just say things
* What I think is that he should say nothing about tax reform until he actually releases a plan
* That way he can over-deliver
* Don't promise anything - "I'm working on it." - and don't put up a deadline for Wednesday
* What if it doesn't happen?
* What if there is no tax cut on Wednesday
* What if it's not the biggest the biggest tax cut ever
* Why make those promises?
* Maybe his is going to release a massive tax cut on Wednesday and maybe it will be the biggest ever
* I'm not going to take credit away from the President; I'm just saying, "Why not just wait until Wednesday?"
* Just in case something goes wrong
* Maybe this time there actually is a vote
* But the problem, is if you cry wolf to often, then eventually no one's going to believe you
* There's really no reason to go out and make the promise; just deliver the massive tax cut on Wednesday and everything will be fine
* But I guess he can't resist jumping the gun
* But the crazy part about this, first of all, how is it going to be the biggest tax cut ever?
* It's hard to believe that, when we have the most debt ever
* An enormous 20 trillion National Debt, that the President understands,
* He pointed out how big the debt was when he campaigned
* How can we afford the biggest tax cut ever unless we're also going to talk about the biggest government spending cut ever?
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