Thursday, December 28, 2017

We Think to Buy Prosperity on the Back of the National Debt

  We would think prosperity is purchased by expanding the national debt.
   I would certainly guess the Republicans are right in this: Once the people see they are paying less in taxes, they will warm up to the new tax code.
   But, it does not go unnoticed on me that if we do pay fewer taxes, the national deficit is going to grow. What are the estimates being tossed around? A $1.5 trillion increase in the national debt?
   I wonder if anytime you set down to figure out a tax plan, the overriding objective should be to pay your bills. You say, We have an $18 trillion debt. How are we going to pay it off? Or, you might at least try to cover the current bills by saying, We have a $4.1 trillion budget. How much do we tax in order to pay for that?
   In other words, your plan should be equal your problem.
   Instead, our nation has fallen under the spell that if we don't tax so much, it will spur the economy. And, government shouldn't be taking all that much money from us, anyway. I do not know but what there isn't truth in both of these arguments. Perhaps leaving the money with businesses and citizens does spur the economy. Perhaps the government shouldn't be taking so much money from us.
  I only know, we have a huge national debt. I only know, we should be paying our bills. Rewriting the tax code would be one way to do that. This was an opportunity. But, we have now squandered that opportunity. We have chosen, instead, to go further into debt.
  We think to buy prosperity by increasing the national debt. What is prosperity? If a family has $150,000 in debts, but they have a yacht and a nice car, is that prosperity? The day will come when that family has to pay for the yacht and the car.
   I would that the family of America should not be like that family.

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