Fiscal Conservatism Requires Higher Taxes on the Rich

Otherwise, Republicans must quit foolish spending spree

Credit: J.P. Valery, Unspash

Fiscal conservatism is largely dead in America’s federal government. It is remarkably dead in the Republican Party. Higher taxes on the rich are necessary to give it life again.

A long time ago, back when Republicans were true Republicans, they embraced fiscal conservatism as a policy with the following components:

1. Lower spending during boom economies.
2. Therefore, make government smaller.
3. Therefore, lower taxes for everyone.

Lower taxes were a consequence of lower spending and smaller government. The GOP’s philosophy of today is:

1. Lower taxes on the rich.
2. Increase spending faster than inflation.
3. Therefore, increase federal deficits.
4. Therefore, skyrocket the national debt.

More than lower taxes

Fiscal conservatism isn’t just about low taxes. It’s also about balanced budgets and manageable national debt. Neither are possible with lower taxes and higher spending. They are certainly not possible when billionaires are now paying a lower effective tax rate than the working…