re:  Taxing bankers is justified, but it should only be a start

In her paean to higher taxes, Froma Harrop states (erroneously) that "there cannot be lower deficits without higher taxes", and notes (correctly) that the national debt increased during the Reagan Administration.  Unfortunately, she is mistaking coincidence for causality.  Yes, under Reagan the income tax rates were reduced; however, the revenue from federal income taxes grew by 56% from 1981 to 1989.  Unfortunately, government spending rose by 69% during that same time period.  The budget deficits during this time were not the result of a reduction in revenue, but rather an increase in spending.

The key to controlling the deficit and national debt is not to take more money from the paychecks of hardworking Americans, but rather to have our politicians spend less of our money.

Sincerely,
Dave Smith
Houston, TX