Explain the rationale for this tax and debt philosophy

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In every presidential election some candidates claim that taxes are too high and should be lowered. In addition recognizing that the U.S. continues to have large deficit, adding national debts, these candidates claim that tax revenue (lower taxes) will help reduce the national debt. How can this be when tax revenues are the major source of income to the U.S. government? Explain the rationale for this tax/debt philosophy

Reference no: EM131076470

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