Wednesday, August 24, 2011
Taxes and Spending
The US of A is spending 40% more than it takes in by taxes. This cannot go on forever. Something has to be done. The Republicans want to cut spending, the Democrats want to raise taxes. The Republicans know that any tax hike will be used to postpone the day that spending gets cut. All of those on the public dole will rise in wrath to defend their share of the taxpayer spending. It takes the threat of bankruptcy to force recipients out of the public trough. Any tax hike will postpone bankruptcy and thus make spending cuts impossible. The Republicans are (finally) wise enough to refuse any kind of tax hike until we get some real spending reductions.