Walter Cronkite: Increasing Taxes

Posted by admin on Monday, November 4, 2019

Walter Cronkite Money Quote saying with a journalist’s perspective that cutting taxes seems as though it would have the opposite effect of the stated goal. Walter Cronkite said:
 

 

“It seems to me that instead of cutting taxes, we ought to be increasing the taxes to pay off the deficit, rather than let that thing build up to the point where our grandchildren’s grandchildren are going to be paying for our period of time and our years at the helm” — Walter Cronkite

 

 

In this quote, legendary news anchor Walter Cronkite is advocating for increasing taxes rather than cutting them in order to pay down the national debt and budget deficit. He suggests that by reducing taxes, it will only cause the deficit to continue growing increasingly large over time.

Cronkite worries that this will saddle many future generations with paying off the massive debt accumulated by earlier times, with their “grandchildren’s grandchildren” still feeling the burden.

Overall, Cronkite is expressing the view that responsible fiscal policy requires raising necessary tax revenue to start chipping away at the deficit, rather than pursuing tax cuts that exacerbate the debt problem and shift the costs to descendants far in the future.

Birthday November 4, 1916 – Died July 17, 2009