Higher Taxes Won’t Reduce the Deficit: History shows that when Congress gets more revenue, the pols spend it.

The grand bargain so many in Washington yearn for—tax increases coupled with spending cuts—is a fool's errand. Our research confirms what the late economist Milton Friedman said of Congress many years ago: "Politicians will always spend every penny of tax raised and whatever else they can get away with."

http://online.wsj.com/article/SB10001424052748704648604575620502560925156.html

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