Republicans Consider Tax Increases to Combat Crushing Debt

In most circumstances, the very concept of tax increases is anathema to Republicans. However, in a country where debt continues to pile up on top of other debt, and politicians seem unwilling or unable to stop their wild spending sprees to pander to voters who will give them an edge in their next election, even Republicans may relent and given in to a tax increase. It sounds rather extreme for the party that likes a "hands off" approach to government (allegedly), but in reality the proposal being considered by some in the GOP is not too far out there at all.

Jeb Bush, the former governor of Florida and brother of former President George W. Bush, noted in recent comments, "If you could bring to me a majority of people to say that we?re going to have $10 in spending cuts for $1 in revenue enhancement ? put me in, Coach." Bush made the comments while speaking to the House budget committee. Bush also added, however, "This will prove I?m not running for anything." Indeed, he could not be, as tax increases don?t get Republicans elected.

Still, even Bush?s choice of words ? "revenue enhancement" ? are telling. What that actually equates to is "taking your money" (assuming you?re part of the 50% of American who pay income taxes). Bush?s comments may also be in response to a CBO report that warned that entitlement programs would push the debt to double that of the U.S. economy by 2037. According to the report, "The explosive path of federal debt under the alternative fiscal scenario ? which maintains what might be deemed current policies ? underscores the need for large and timely policy changes to put the federal government on a sustainable fiscal course."

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