Friday, September 14, 2018

Wicked Circle

There is an irrational fear in this country that the liberal Government wants to raise taxes and give benefits to their supporters, who aren't by the way "real" Americans.

Real Americans in this scenario are church going white people who probably don't live on the coast.

Now as far as increasing taxes, most of the increases people see are state and local taxes, since the federal tax rates have not increased in quite a while, if you ignore the latest round of tariffs ordered by the dontard.

Still, you do hear talk from some democrats that we need to increase taxes on our wealthier individuals in order to reduce the deficit, fund social security and pay our bills.

Assuming that paying our bills is something of an American value we have to figure out a way to do it.

The only real choices would be to increase the Government income or reduce its spending.

We would all prefer to see the spending reduced until we see what is being reduced.

The big pots of money go to areas we don't want to cut, like defense and social security and medicare.

Almost everything else isn't going to be enough and some of those program are quite important to many of us.

We also face an increasing bill for the interest on our debt that is only going up as time passes.

Increasing income can be done by increasing growth, since taxes would go up.

Of course a recession would reduce Government income greatly while forcing up spending.

Right now there is no real plan to eliminate the deficit, nor a spending reduction plan that has any real hope of success.

So we borrow tremendous amounts each year while reducing taxes on the wealthy who can then use that money to buy interest bearing bonds.

Government Ponzi?

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