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A man I admire makes some interesting observations about our budget crisis. What do you think?
I’m no expert but I try and stay up on current events and ask intelligent questions regarding the economy and how the economy and budget deficits are affecting people at every level of income and especially the poor. I agree with Ron and that is there needs to be drastic spending cuts and a complete overhaul of the tax codes. My understanding is that taxing the rich will not solve the problems we have with the deficit. If the president was able to tax the rich at the levels that he suggests the government would take in $85,000,000,000 a year in additional tax revenue. The problem with this is that the government spends $85,000,000,000 every eight days. So it is easy to see taxing the rich will not do it. In addition 50% of the people of this country does not pay taxes at all and it would be good if everyone could just pay a few dollars so that we can all feel a part of solving the problem. Anybody with the political will could save this country astronomical sums of money. For example why are we sending $11,000,000,000 a year to Egypt that is to their military. The Egyptian military especially at this time is violent in nature and why would we want to support this. Our country is tremendously generous to the poor and there’s no need to attempt or believe we have to balance the budget on the backs of the poor. We cannot clean up the deficit with taxes or spending cuts alone we need to put people back to work. California is $16,000,000,000 in the red. California has no money. If we put people back to work there will be plenty of money to take care of the government’s obligations. If we count those people who have stopped looking for work we have 15% unemployment. Our country does not have the money to pay for all of the programs including domestic, foreign, and military unless we put people back to work. Corky Riley