The Ruling Class has been clamoring for higher taxes, touting them as a magic elixir to "cure" the federal debt. I suppose, at least, it's nice to know they've thought about insolvency, but are tax increases a real or acceptable solution?
In a word, no.
As economist Murray Rothbard once explained, "Curing deficits by raising taxes is equivalent to curing someone's bronchitis by shooting him." Tax increases, always and everywhere, result in more spending by politicians and bureaucrats. This axiom has held true for so many thousands of years, it's as reliable as the law of gravity.
Raising taxes can only exacerbate the harm already inflicted on struggling families and individuals. Confiscating yet more of their food and shelter money for the benefit of the Ruling Class, who use it to payoff their cronies and push taxpayers around, is beyond cruel.
Soon, the Ruling Class will present Democratic and Republican versions of their "deficit reduction" plan (to raise your taxes), and set the punditry ablaze. The lobbing of partisan rants back and forth will dominate meaningful discussion concerning unsustainable debt, and constituents (on both sides) will jump in to defend whichever "plan" (to confiscate more of their family's money) was presented by their favorite team of Overlords.
Unfortunately, all that partisan "fun" doesn't amount to a hill of beans in the real world, where higher taxes do harm to families and individuals, regardless of which team of Overlords levies them. The only beneficiaries to any tax increase, are the Ruling Class themselves, who use the money to buy votes and payoff cronies. Running for office is Big Business, dontcha know?
There are only 2 workable "solutions" to the federal debt crisis: 1) repudiate the debt, or 2) drastically cut all federal spending across the board. Yes. Everything! From social programs to the military, there are no sacred cows. Anything less amounts to "unicorns and rainbows."
But those are real world solutions, and we all know the real world doesn't get in the way of the Ruling Class, their special interest dependents, or the adoring fans who sit in their respective Amen Corners ... So, on top of the massive tax increase already coming your way this January, expect to see the "bipartisan" propaganda machine start pushing for more taxes too!
Being YOUR debt, you didn't really think the Ruling Class would take responsibility, did you?
You do know there are only 545 of them, right? Being so outnumbered, we could end this peacefully in a matter of days. Anyways, carry on ... "All Hail the Politicians, Our Leaders, Our Glory!"