We Need a Debt Solution

[jayhawkclint]

Every day I see more talk of gun control in the news than I do fiscal news. The legacy we are leaving for our children and grand children is appalling. Gun control is being used as a daily diversion from a driving full speed toward the cliff. It is important to protect our 2a rights, but don't let them take your sights off the need for a responsible budget solution.

 

[jmusteen]

I was just thinkin the same thing Wednesday, smoke and mirriors for a problem that I don't think can be solved.

 

[n2sooners]

I think it's too late. Not so late that if Americans woke up this year we couldn't fix it, but with the media we have and the elected officials we have and the number of Americans that are asleep it will almost certainly be too late when they wake up.

 

[rmark]

gun control is a good way to distract from failed debt control.

 

[rmark]

Doubling taxes and halving spending would start winding down the national debt. Or just defaulting.

You might want to read 'This Time is Different' by Reinhart and Rogoff, which discusses countries debt crisies.

 

[fluxed]

The debt is the largest issue we face. Both sides have no stomach to deal with it. This is child abuse at a level I cant comprehend.

 

[n2sooners]

Doubling taxes and halving spending would start winding down the national debt. Or just defaulting.

You might want to read 'This Time is Different' by Reinhart and Rogoff, which discusses countries debt crisies.

Doubling taxes would do more harm than good. No matter what the tax rate has been since WWII the revenue to GDP ratio has remained about the same. We should have the lowest tax rate possible to remain in that range since lower taxes result in an improved economy which in turn increases the GDP. In other words, the goal shouldn't be a higher tax rate, but more taxes through an increased GDP. If we revamped social security, medicare, and medicaid, and ditched Obamacare followed by a freeze in all other spending then the budget would eventually balance itself.

 

[jayhawkclint]

It's the spending, not the tax rate.

 

[pistolpete2002]

The GOP had a plan to start reducing the deficit over the next 10 years and 50% of the population couldn't even handle that. 50% of the U.S. is so dependent on the .gov that they can't even begin to think what it would be like if they had their govment wages lowered.

I'm all for taxes being raised, but only ONLY if they cut the fricking spending. It pisses me smooth off to raise my taxes and take away from me and my family enough to where I have to cut my spending, but they can't do the same!!!

 

[JamesP82]

End all entitlements! If society cannot come together, as we used to, and support itself then society is already doomed. The government doesn't need to be a babysitter or anyone's bank roll.

Get rid of the Earned Income Credit, it is also a something for nothing program. Years ago, I got about $5k in refund while only paying about $500 throughout the year. I'm fine with lower income families paying no taxes, but they shouldn't get a government bonus check.