As it stands right now, our taxes are low, and that frees up money for Americans to spend on consumer goods. But where do we buy from?
We buy stuff from overseas. Americans don’t buy American-made goods because we don't make goods in America anymore (apart from Harleys and guns). As explained in this article, this is half of the problem with trade deficit, which requires us to borrow more and more money from China.
There’s a solution to this, though. We can lower the trade deficit by taxing people more. That would reduce their disposable income and increase government revenues; in essence, it would force people to spend their money on things that benefit America directly -- debt reduction.
It’s either that or we’ll send our money overseas so we can have foreign-made Blu-ray players.
Hey, if the Greeks can approve measures to promote fiscal responsibility and austerity, so can we. [Source]
KEEP MY MONEY IN AMERICA! RAISE MY TAXES!
Subscribe to:
Post Comments (Atom)
4 comments:
That's a nice theory, but there's no evidence whatsoever that the government will be responsible with more money. They've already spent money they don't have for decades to come.
If you want stuff made in America again, reduce restrictions and taxes on businesses.
"In future decades, when rising health costs with an aging population hit the budget in full force, deficits are projected to be far deeper than they are now. Effective health care reform, and a willingness to pay more taxes,
will be the biggest factors in controlling those deficits."
http://www.nytimes.com/2011/07/24/opinion/sunday/24sun4.html
Anyone who wants to is free to contribute to pay down the national debt--for what it's worth.
http://www.washingtonpost.com/business/economy/showdown-encourages-citizens-to-give-gifts-to-reduce-debt/2011/07/21/gIQAfjZQXI_story.html
A balanced budget amendment and streamlining bloated government would go a lot farther in the long run.
That would be effective, too. And the best way to do that?
A 1990s style reduction in force (provided I get a modest separation package).
I'd take that hit -- you know -- for the nation. I'd volunteer to be downsized from the Army.
Post a Comment