Myth: Taxes need to be raised to help address the growing federal deficit and stimulate job creation.

Myth: Taxes need to be raised to help address the growing federal deficit and stimulate job creation.

Truth: Raising taxes as the economy is trying to recover from a deep recession is a recipe for disaster. President Hoover did it in the 1930s, President Carter did it in the 1970s and President Obama wants to do it now. It did not work then, and it will not work today. Tax hikes kill existing jobs and can depress future job creation. According to a preliminary estimate based on Center for American Progress data, thousands of oil and natural gas jobs would be destroyed by the Administration’s new taxes and fees.

<- Go Back