Pass it to the kids?
Avon, CO, Colorado
Because we voters have made it clear that we don’t like to pay taxes, both of the presidential candidates speak at great length about their plans for reducing them.
Mr. McCain speaks as if taxes aren’t even part of the “balanced budget” equation, and so he tells us that he would reduce taxes for everyone.
Mr. Obama would reduce them for those making less than $250,000, but In order to offset the resulting loss of revenue, he would raise taxes for those making more than $250,000. In truth, that does seem more prudent to me.
In 2000, Mr. Bush told us that reducing everyone’s taxes would lead to a stronger economy, and the added revenue that resulted, would balance the budget. This “trickle down” theory didn’t work and our nation’s debt will have increased by $5 trillion under Mr. Bush. His economic nonsense will account for $5 trillion of our $10 trillion national debt and for $200 billion of our $400 billion interest payments each year.
The underlying truth is that really balancing the budget is unlikely. We all want America to be a first-class country with a great educational system, a powerful military presence, good health care and old age security ” and it all costs money.
So the real question is do we want to pay as much as we possibly can, or do we want to use the government’s “credit card” even more? Or to put it another way, do you want us to pay the taxes that will help to contain the budget deficit, or do you want our kids to pay all of the interest on our debt?
And to phrase it one more way, the issue really is, “Pay now or pay forever?
David Le Vine
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