With the out of control spending that has been occurring in Washington over the past 12 years, it’s ridiculous that any politician would have the gall to suggest that tax increases must be imposed – on any group of Americans – in order to fix the problem. America does not have taxes that are too low. It has spending levels that are too high. Yet still, even in the face of overwhelming evidence that the country’s economy is becoming more in the thrall of the government and less in the hands of those who actually produce value, there are Americans who have either been hoodwinked or who have willingly pulled the wool over their own eyes, believing that "someone" – perhaps those rascally "rich" people - should pay for the government’s largesse.
It is, in the long term, a recipe for disaster. An economy based on government spending will work - for a while. But eventually the government’s sole source of revenue (taxes) will begin to dwindle as private industry produces continuously less value. That will occur even as big chunks of the workforce – baby boomers – stop working. Add to that the fact that the promises made by the U.S. government go well beyond the $16 trillion "official" debt, and you can see where this is all heading.
Yet, despite all that…politicians STILL do not want to slow spending. Why is this? Because they know that spending money on their constituents will win them elections, despite how damaging it will ultimately be for the nation. Soon, however, voters may find out just what the two unpleasant choices are between higher taxes or lower spending. Notes Rep. Trent Frank, R-Arizona, "The American people will have a chance to compare the two approaches [of the two parties]." He added that the only way to shrink government is "to choke the monster." With all of that, it’s worth noting that the "tough choices" would not appear nearly so tough if the government would not have grown so accustomed to irresponsible spending, and if the American people that the politicians purport to represent would not have grown so accustomed to special favors and so removed from personal accountability.
It is, in the long term, a recipe for disaster. An economy based on government spending will work - for a while. But eventually the government’s sole source of revenue (taxes) will begin to dwindle as private industry produces continuously less value. That will occur even as big chunks of the workforce – baby boomers – stop working. Add to that the fact that the promises made by the U.S. government go well beyond the $16 trillion "official" debt, and you can see where this is all heading.
Yet, despite all that…politicians STILL do not want to slow spending. Why is this? Because they know that spending money on their constituents will win them elections, despite how damaging it will ultimately be for the nation. Soon, however, voters may find out just what the two unpleasant choices are between higher taxes or lower spending. Notes Rep. Trent Frank, R-Arizona, "The American people will have a chance to compare the two approaches [of the two parties]." He added that the only way to shrink government is "to choke the monster." With all of that, it’s worth noting that the "tough choices" would not appear nearly so tough if the government would not have grown so accustomed to irresponsible spending, and if the American people that the politicians purport to represent would not have grown so accustomed to special favors and so removed from personal accountability.