Thursday, April 14, 2011

Tax, Tax, Tax

imageThe President outlined his deficit-cutting vision yesterday:  Tax, tax, tax.

The bottom line was tax overhaul to take in more money from “the rich.”  My issue is that it seems like the government spends about $1.30 for every dollar it receives.  I’m not sure if that’s the exact ratio, but you get the idea, right?

In addition, I’m not sure raising taxes in a fragile economy is the right idea.  One thing that is for certain is that the amount of interest the United States pays on the national debt grows year after year.  That’s money that can’t be spent on anything else.  It’s like when families run up their charge cards to the point where the minimum monthly payment impacts their ability to do anything else with their money.  That’s the path the US is on.

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