Rejecting a tax increase is essential to protect Americans working to support their families, prevent harm to the economy, and preserve individual freedom. Embracing a tax increase agenda would limit resources for personal pursuits, slow down the economy, and lead to a lower standard of living similar to socialist countries in Europe. Therefore, it would be fiscally irresponsible for the Republican party to support tax increases.
Whoever wins the 2024 election will soon face a critical decision about extending four trillion dollars in tax cuts expiring next year. Whether taxes will be raised, or cut is in question, against the backdrop of 34.1 trillion dollars in federal debt. For the past few decades, the Republican Party has embraced the belief that lower tax rates and less government spending boost the U.S. economy. However, there is disagreement among conservative thought leaders about the way forward on taxes for the Republican Party. Specifically, some argue that preferences for tax cuts ignore the looming deficit and that refusing to raise taxes further imbalances the federal budget. However, others continue to argue that our debt is caused by government overspending and will actually be helped by tax cuts and that these same cuts also help promote a flourishing economy.
With this background, we debate the question: Is the Republican Party’s Refusal to Raise Taxes Fiscally Irresponsible?
Arguing Yes: Oren Cass, Executive Director of American Compass
Arguing No: David McIntosh, President of the Club for Growth
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