Harry Reid, Democrats in response to S&P downgrade: Hey - let's raise taxes!

Let me just cut to the chase: historically each $1 in higher taxes results in $1.17 of new spending. And all the tax increases since WWII haven't brought down the debt one red cent. Not one. Increasing taxes to cut the deficit will do just the opposite because Democrats will simply spend it and then some. It. Is. A. Historical. Fact. The problem isn't revenues. It's spending. But the tone deaf don't get that. Speaking of, from The Hill: Reid: S&P downgrade backs Dems' call for more revenue

The action by S&P reaffirms the need for a balanced approach to deficit reduction that combines spending cuts with revenue-raising measures like closing taxpayer-funded giveaways to billionaires, oil companies and corporate jet owners. This makes the work of the joint committee all the more important, and shows why leaders should appoint members who will approach the committee’s work with an open mind - instead of hardliners who have already ruled out the balanced approach that the markets and rating agencies like S&P are demanding.

As if the Democrats will appoint anyone other than hardliner liberals to the commission. Their only idea is to raise taxes. Always has been, always will be. Class warfare is all they know.