Increased Taxation

Times are tough and making ends meet is a challenge to say the least, that’s why federal and state governments are working at doing something about it. Yup, they’re going to raise taxes, in some instances they’re plans include double taxation. Most of us find this unbelievable and yet sadly not at all surprising. Increasing taxes is more often than not the plan of choice for government when they find themselves short on funds. Rather than reduce the cost of government lawmakers generally opt for the old standby of increasing the tax burden of businesses, farmers and ranchers.  While some supporters of tax increases claim that it hits only the elite the majority of the population is all too familiar with the old adage, “you know what runs down hill.” It may hit the elite first but the aftermath will undoubtedly affect all economic groups and hinder economic recovery even longer. Instead of pouring salt into an already raw and festering economic wound legislators need to find solutions for budget deficits that don’t involve increased taxation.