Quote:
Originally Posted by Villages Kahuna
Much of the effects of the deficit spending done by Congress in the last decade or so can be offset by increasing the marginal tax rates. We raise about $1.5 trillion in personal income taxes each year, so inceased taxes along with some reduced spending can resolve the deficit pretty quickly. No one will like a tax increase and such a move would be political suicide, but our fiscal problems are far from insoluable. Even if a significant tax increase was enacted, the result would likely be far from the highest marginal rates ever experienced in the U.S.
All I'm saying is that there is a solution to runaway inflation and skyrocketing interest rates--inreased taxation. Maybe it will take the political outcome of such a thing to return Congress to true fiscal conservatism.
The ship of state changes course slowly--but change it will.
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I find it hard to give more money to the government when they are nothing more then spendaholics. Like you say , it would be easy to reduce the deficit but we part ways on how to accomplish it.
I know this is rather simplistic but if you have a household budget, you try to balance it at the end of every month, right? In most cases you cannot go to the source of your income, be it your employer or SS or pension, or a combination of all, and ask for more money to balance your checking right?
You know..deep down I think some or maybe the majority would like to pay a little more if they really thought the money wasn't going to go into a rat's hole.
Give an example from here in Massachusetts: Our state is in deep debt, just like many other states. Anyways, they just raised our sales tax and are looking for more ways to raise revenue. Well, guess what our esteemed governor tried to do a few weeks ago until it got out into the newspapers? He put his unemployed neighbor on the payroll for an annual salary of over $200,000 for a position that was vacant for over 11 years.
He got caught and the red-faced governor had to un-hire his buddy. This crap goes on and on and on..This is just a small time example of the billions of taxpayer money that is thrown around the USA.
My personal opinion is that we should not be feeding this monster. Government needs to tighten their belt and reorganize their budget just like corporations do when they are in trouble.
Don't feed the government....Restructure the government!!!!!