Economy slows, real estate prices drop, and flow of tax dollars into the politicans' spending maw ebbs.
Obvious answer: More tax dollars needed to prevent 'drastic cuts' in spending to meet public "needs."
Tax increases and additional taxes enacted and any prior tax increases that had been termed "temporary" are made permanent.
Eventually, economy recovers, real estate prices rise, and flow of new, additional, and higher taxes imposed during the slump surge.
Politicians, with surplus funds on hand after meeting prior public "needs," discover more public "needs" that have to be met and commit the surplus funds to them and, in the process, make long term commitments to the additional new "needs."
Next economic downturn comes and another round of tax increases is required to maintain the allegiances of the ever expanding constituencies the politicians are purchasing by using tax dollars to fund and committing to continued funding of the perpetually expanding list of public "needs."
It's a wondrous perpetual motion machine that stops only when they run out of other people's money, and then the whole economic system comes crashing down.
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