RSS
Twitter
Facebook
YouTube
A few days ago Leon E. Panetta warned against possible spending cuts to the Pentagon, saying they would damage our national security. And in July, Bernie Sanders, independent senator from Vermont, drummed up opposition to cuts to Social Security, Medicare, and Medicaid, saying they would damage the quality of life of many ordinary Americans.
Though many conservatives supported Bush’s tax cuts (which have cost $1.7 trillion in lost revenue over a decade) as well as the wars in Iraq and Afghanistan (which cost $1.3 trillion since 9/11), they’ve become deficit hawks decrying the reckless spending of a Democratic president, particularly, if not exclusively, when it pertains to programs that help middle class and poor people.
Whatever. But maybe the US national debt is not just a matter of too much government spending, but also a matter of too little revenue coming in from large corporations and the super-wealthy.
Is it just me or is it surreal that government officials and some pundits--many of whom say nothing about raising taxes on the very wealthy-- are calling for austerity on the part of middle-class and working class people ?
Does it make sense to make things more difficult for people who already are having a tough time paying for food, mortgages, medical bills, or college tuition, while continuing to allow the Bush tax cuts to stay in effect ?
If the millionaires and billionaires paid drastically more taxes than they do now--such as they did in the 1940s or the 1950s--they’d still be far more well-off than the average American.
But tax cuts to the super-wealthy and corporations lift all boats by creating jobs, right ? It’s called the trickle-down effect. Or is it more appropriately called the trickle-on effect?
Are global corporations and the super-wealthy spreading prosperity by creating jobs, or are they putting their money in overseas bank accounts, and shipping more and more jobs to other countries ?
We’re closing schools, cutting funding for higher education, laying off cops and firefighters, and neglecting our nation’s aging infrastructure, so as to avoid raising taxes on the super-rich and to avoid closing tax loopholes on corporations.
Is this good for our nation ? Rus said at least twice on this forum "less government, more freedom." But how free will you be if there's no middle class ?
Launched in August 2010, TheMetropreneur.com is a local online resource devoted to small business development and entrepreneurship. Its aim is to tell the stories of Central Ohio's business community, foster regional economic development and assist entrepreneurs with its resource-heavy focus.