Letter — Recipe for disaster | TahoeDailyTribune.com
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Letter — Recipe for disaster

Tribune

Stephen Reinhard’s budget balancing proposal is a recipe for economic disaster.

Adding a burdensome tax on one segment of the economy may seem like a logical solution by people who think linearly, however, economics is just basic human psychology applied to money and business. The outcome will not be linear. During the 1980s, the Reagan administration adopted a “tax the rich” policy that resulted in lower tax revenues as demonstrated by the Laffer curve. Lowering taxes spurred economic growth, which actually increased tax revenues. In this budget crisis, we must join together as a community to solve it with everyone willing to give a little. Then, we must concentrate on growing our economy, which will ultimately lead to higher tax revenues.

Cheryl Sillings

South Lake Tahoe


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