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Rand Paul: The Problem is Too Much Spending

There's a lot of talk right now about an impending fiscal cliff. But we already went over a cliff economically in this country a long time ago.

The current debate over tax hikes is an empty one built upon a false premise. The debate is whether raising tax rates will address our current crisis. The premise is that it is a lack of taxation that has led to the crisis. Both are hopelessly wrong.

President Obama's proposed tax increases on the top 2% of earners would fund the federal government for about eight days. Even if we taxed Americans earning over $1 million on 100% of their income, we would raise only about $600 billion in revenue.

Source: Investors Business Daily. Read full article. (link)

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