Senator Rand Paul (R-KY) believes “an avalanche of calamities” will be headed for the United States if the proposed House spending bill passes the Senate.
In his USA Today column, Paul praised the tax cuts, which are set to expire at the end of this year: “The 2017 tax cuts were not some abstract, theoretical economic exercise.” He added that these cuts “helped produce historically low unemployment, increase wages, and strengthen small businesses.”
The Senator reiterated his calls to cut spending and decrease taxes to “unleash the full dynamism of America’s free enterprise system," adding that "Congress should extend the tax cuts without a multitrillion-dollar increase in the debt limit.”
“I have consistently called for making these tax cuts permanent because I believe it’s not just an economic imperative – it’s a moral one.” Paul went on to say, “It’s wrong for the government to assert that it has a primary claim on income earned by a worker or entrepreneur. That money belongs to the people who earned it. Keeping taxes low respects that basic principle of economic freedom.”
The Senator added the bill “gets worse.” This is because both the House and Senate have proposed to increase the debt ceiling.
“These debt limit proposals expose what no proponent of the legislation will admit: Washington has no intention of living within its means,” he added, “Congress will continue to borrow, continue to spend, and continue the multitrillion-dollar deficits.”
“In other words, today’s spending threatens tomorrow’s prosperity,” Paul said.
“The path toward a stronger and richer America is clear: We must cut taxes, rein in reckless spending, and end Washington’s addiction to debt." Paul added, "Only then can we restore economic prosperity, preserve individual freedom, and ensure that the American dream remains alive for generations to come."
The Kentucky Senator offered a warning of what's to come if this spending bill passes the Senate. “If Congress fails to address its reckless spending, it is only a matter of time before an avalanche of calamities falls, including an inevitable future tax increase.”
