It's simple and it would work. Too bad the politicians won't let it. Right now 70 Republicans and (of course) not one Democrat have signed on. The "Penny Plan:" A 1% Cut In Real Spending (Not the Rate of Growth) For Six Years
Republicans live in a world where the rules of arithmetic don't apply. A balanced budget can never pay off the national debt. We must post surpluses to do that. We pay the lowest taxes since shortly after World War II and also have the highest debt since then. There is a direct correlation here. The only way to pay down the debt is to pay higher taxes and pay it off. All we have to do is return to the surplus budgets of the Clinton 1990's and let the "temporary" tax cuts expire as was always intended AND cut spending as well.
We all need to pay our fair share. You don't get something for nothing. If we want to be a Superpower with a giant military, Social Security, and Medicare, we have to pay for it. Everything else in the budget is chump change, not that we couldn't cut a lot of waste there. The citizens of both parties clearly want social security, medicare, strong defense and low national debt. So whatever that costs we must pay for it. Taxes are low compared to other developed countries, there is plenty of room in this GDP for more taxes. When the day comes that we cannot pay that figure, then tough choices must be made about medicare, defense, SS, and paying down the debt. Choices our politicians won't make, clearly. In the end, they will have to raise taxes and quit borrowing. It's all they can do. But this republican bullchit where the solution to all problems is to keep cutting our income and pretending that everything will get better was proven wrong in the disaster of the last administration. People have not forgotten who got us into this economic mess.
The Dems want to raise taxes so they can have more to spend. That's the crux of the debate. If they wanted to increase revenue so that the debt could be paid down, the GOP might listen. But all they want to do is spend and get reelected. Well, good luck with that.
Red argues that if you keep everything you have to raise taxes. Others argue that if you cut some things you don't have to raise taxes.
I don't have a problem with increasing revenue. I have a big problem with what this admiistration would do with the increased revenue.
Red, its a two way street. The debt problem is in 2 areas... Speeding more than we have and THEN finding a way to pay down the debt. Getting spending under control is the hardest thing. Once that is taken care of, which it seems never will, there are MULTIPLE ways to address increasing revenue. Though you fail to see this.. Inc more liberal spin...
I agree with SF here. I don't have a problem with increased revenue, I really don't. The problem is that's the easy way out and it's not the best way. If we really made an effort to cut costs, then let's go ahead and raise taxes too to get a surplus. The problem is, without cutting costs, raising taxes makes absolutely no sense. None. We may as well let the situation get worse until we're in crisis mode. That's the only way our politicians get things done anyway.
Increasing revenue does nothing to solve the problem. Until EVERYBODY has some skin in the game nothing will change.
