Our national debt is in a state that building an economy alone cannot overcome the deficits. If the tariffs bring in additional revenue and our government reduces spending, I am all for tariffs. Tax increases are necessary if it's done on the front side, or the back side and make no difference to me. Our citizens got us into this situati…
Our national debt is in a state that building an economy alone cannot overcome the deficits. If the tariffs bring in additional revenue and our government reduces spending, I am all for tariffs. Tax increases are necessary if it's done on the front side, or the back side and make no difference to me. Our citizens got us into this situation, and we need to get ourselves out of it. This debt is our own fault and it's time to pay up.
Our government isn't reducing spending, and taxes in the form of tariffs just make everything more expensive.
If we've abandoned spending reduction, and taxes are all that remain to fight deficits, there are less painful forms of taxation than trade wars that drive the price of everything through the roof, and increase federal subsidies.
The only reasonable solution is something along the line of the Fair Tax that will never ever be passed. I don't see any internal tax solution that would be acceptable to the American people. We know that the top income earners pay the vast share of the taxes. Congress has continued to provide tax credits and lowered rates for the rest. In Europe, everyone pays, and their economies are in the tank with stagnant growth. Of the top 12 companies in the world that have a market capitalization of one trillion dollars or more not one is in the EU. Nine are in the USA.
We still have the economy and we overwhelm the rest of the world; for now. Many US companies manufacturing is regionalized meaning they produce in the market the sell into. TMSC with a market cap of over a trillion is building plants here in the USA.
Until someone comes up with a tax plan that doesn't hurt the American consumer and economy, I'm all ears. but until someone does Tariffs are not bad. Americans' familiar international business understand that we face trade barriers. Perhaps there isn't a tariff but obtaining leases, licenses, contracts, and other factors are a major hidden barrier that countries use against.
Our national debt is so large, and is the result of decades of reckless spending by both parties, that any practical solution would need to be a "bend the curve" type of solution that resolves itself over decades. A "shock and awe" solution that tries to fix the whole problem in one shot will tank the economy and trigger a world wide depression.
And that's the problem. People who actually understand complex issues and present complex solution are viewed as boring TV, and are voting out in favor of the performance artists we now have in charge.
Paul Ryan's plan couldn't stand the scrutiny of Chris Wallace. Under the plan he admitted that the deficit and, accordingly, the debt would continue to rise for several years. He said then eventually there'd be surpluses. His plan was based on the belief that deep tax cuts would eventually pay for themselves and then (more than) some.
I think the Simpson/Bowels (sp?) plan was more realistic. I think it should be used as a starting point. It was the product of a bipartisan investigation into the national debt. They concluded that we can't tax our way out of the debt and we can't cut our way out either. The plan was a combination.
In our current political climate this just ain't going to happen. Heck, if even a moderate conservative like Bernie (yes, our Bernie) opposes tax increases for the wealthy EVEN if they are effective in reducing the deficit or balancing the budget and paying down the debt, the plan will not see daylight in the foreseeable future.
Our national debt is in a state that building an economy alone cannot overcome the deficits. If the tariffs bring in additional revenue and our government reduces spending, I am all for tariffs. Tax increases are necessary if it's done on the front side, or the back side and make no difference to me. Our citizens got us into this situation, and we need to get ourselves out of it. This debt is our own fault and it's time to pay up.
Our government isn't reducing spending, and taxes in the form of tariffs just make everything more expensive.
If we've abandoned spending reduction, and taxes are all that remain to fight deficits, there are less painful forms of taxation than trade wars that drive the price of everything through the roof, and increase federal subsidies.
The only reasonable solution is something along the line of the Fair Tax that will never ever be passed. I don't see any internal tax solution that would be acceptable to the American people. We know that the top income earners pay the vast share of the taxes. Congress has continued to provide tax credits and lowered rates for the rest. In Europe, everyone pays, and their economies are in the tank with stagnant growth. Of the top 12 companies in the world that have a market capitalization of one trillion dollars or more not one is in the EU. Nine are in the USA.
We still have the economy and we overwhelm the rest of the world; for now. Many US companies manufacturing is regionalized meaning they produce in the market the sell into. TMSC with a market cap of over a trillion is building plants here in the USA.
Until someone comes up with a tax plan that doesn't hurt the American consumer and economy, I'm all ears. but until someone does Tariffs are not bad. Americans' familiar international business understand that we face trade barriers. Perhaps there isn't a tariff but obtaining leases, licenses, contracts, and other factors are a major hidden barrier that countries use against.
Our national debt is so large, and is the result of decades of reckless spending by both parties, that any practical solution would need to be a "bend the curve" type of solution that resolves itself over decades. A "shock and awe" solution that tries to fix the whole problem in one shot will tank the economy and trigger a world wide depression.
I'm for Shock and Awe. Paul Ryan presented the "bend and curve" proposal and he was driven out of Washington.
And that's the problem. People who actually understand complex issues and present complex solution are viewed as boring TV, and are voting out in favor of the performance artists we now have in charge.
Paul Ryan's plan couldn't stand the scrutiny of Chris Wallace. Under the plan he admitted that the deficit and, accordingly, the debt would continue to rise for several years. He said then eventually there'd be surpluses. His plan was based on the belief that deep tax cuts would eventually pay for themselves and then (more than) some.
I think the Simpson/Bowels (sp?) plan was more realistic. I think it should be used as a starting point. It was the product of a bipartisan investigation into the national debt. They concluded that we can't tax our way out of the debt and we can't cut our way out either. The plan was a combination.
In our current political climate this just ain't going to happen. Heck, if even a moderate conservative like Bernie (yes, our Bernie) opposes tax increases for the wealthy EVEN if they are effective in reducing the deficit or balancing the budget and paying down the debt, the plan will not see daylight in the foreseeable future.