Dan Mitchell of Cato Institute writes that Obama’s proposed “tax trigger” creates a perverse incentive for politicians to overspend. They create huge deficits and taxes automatically go up. The scoundrels won’t even have to go on record with a vote.
Of course, Obama doesn’t think there is such a thing as government overspending. In his statist mind, political spending is all for “the public good,” while private spending (and investing and donating) is all just greed.
