The Tax Avalanche is Coming
Original post made by Rick Pshaw on Aug 6, 2012
Well, I have news for you. If these measures are passed, they most likely won't be temporary. And if the "band-aid" is ever pulled off, the wound will still be there, worse than ever. Nothing will be solved.
Pension costs have gone to totally unrealistic levels due to atrocious planning by the various agencies. The only way stop this madness to vote down * every * tax proposal on the ballot. All of 'em! This will send the clearest possible message to our rapacious agencies.
Things may get worse for the short-term, but they will get much better when those agencies realize that the answer to their fiscal problems is not another tax.
on Aug 6, 2012 at 6:44 pm
on Aug 7, 2012 at 10:01 am
Higher taxes never reduce the deficit, governments spend whatever they take in and then whatever they can get away with. Milton Friedman, economist. Couldn't be clearer or more to the point.
on Aug 7, 2012 at 12:01 pm
Ronald Reagan is the father of America's national debt. The national debt declined relative to the GDP under every president since WWII before Reagan. Under Reagan and Bush 1 the national debt quadrupled due to tax cuts to 70% of GDP - during times of relative economic stability and economic health. After a brief decline under Clinton, the debt shot up again under Bush II. Most of our nation's current debt was taken on during the Reagan, Bush and Bush years - look it up. And the source of the debt was cutting taxes, notwithstanding the comfy fairy tales repeated by the right wing propaganda machine.
The national debt increased during the Great depression and WWII, due to necessity. America has fought off the worst impact of the great recession by deficit spending since the last year of BushII. (Look at how the rest of the world is struggling.) Unfortunately, we were already $11 trillion in debt when Obama took office, which severely hampered our ability to weather the economic storm created by the deregulation of the financial markets.
So we continue paying lower taxes than our parents and grandparents, building up debt through irresponsible tax cutting, and the whiners complain. And complain. And complain. Wah-wah.