Saturday, August 18, 2012

Another alternative

I said a couple of posts back that we can't just keep borrowing almost 40% (actually 37% this year) of our federal budget each year, so we needed to cut something like $2 trillion from each year's budget to close the deficit and begin to reduce the debt. Of course people throw up their hands at that -- think of all the poor who won't get food stamps, the underprivileged who won't get health care, all the government workers and contractors who would lose their jobs, etc, etc.

 But of course there is another alternative, if we really don't want to give up all that federal help and all those federal jobs -- we could simply raise everyone's taxes.  At a rough guess, we would need to just about double everyone's taxes to close the gap.  So think of last year's tax bill, and double it. Would you be willing to do that to keep all those government agencies and military adventures and welfare programs and farm subsidies and...and....and?  If so, let's do it.  If not, let's get real about what federal services we are really willing to pay for.