Whoever wins the 2024 election will soon face a critical decision about extending four trillion dollars in tax cuts expiring next year. Whether taxes will be raised, or cut is in question, against the backdrop of 34.1 trillion dollars in federal debt. For the past few decades, the Republican Party has embraced the belief that lower tax rates and less government spending boost the U.S. economy. However, there is disagreement among conservative thought leaders about the way forward on taxes for the Republican Party. Specifically, some argue that preferences for tax cuts ignore the looming deficit and that refusing to raise taxes further imbalances the federal budget. However, others continue to argue that our debt is caused by government overspending and will actually be helped by tax cuts and that these same cuts also help promote a flourishing economy.
With this background, we debate the question: Is the Republican Party’s Refusal to Raise Taxes Fiscally Irresponsible?
Conservatives should favor limited government, not reflexive tax cuts
Boosting American investment and production when tax cuts will not
On this episode of Critics Corner, Oren is joined by Grover Norquist, founder and president of Americans for Tax Reform. Spoiler: Oren is not convinced to sign the tax pledge.