Monday, September 10, 2012
FRSFreeStateNow: Reason TV: Democrat Debt Solutions: "Tax the Rich, Spend More Money": Why Tax Hikes Alone Won't Bring Down The Debt
Here's why neither Democrats or Republicans are serious about Deficit and Debt Reduction or at least to the point where. They can put a plan on the table that actually solves the problems, Democrats talk about taxing the rich and cutting defense but when they talk about cutting defense. They talk about the Afghan and Iraq Wars, not mentioning that we haven't paid a dime for either of those wars. Meaning by cutting back there, all we would be doing is stopping the bleeding on our debt with those wars, meaning we would stop adding to the debt from those wars. But its not as if we can use that money that the Federal Government never created but borrowed from Russia or China, to pay for Debt Reduction. Because we would just be borrowing money from one thing to pay down another bill but creating a new bill that has to be paid down. I hope you are still with me, I'm a little dizzy right now, just from writing that, Republicans aren't serious either because as much as. They talk about the debt and deficit, something they spent eight years piling up in the Bush Administration, they to don't have a plan to pay it down or at least get it under control. The Ryan Plan doesn't balance the budget for another ten years and thats even if you believe the numbers it uses which I don't.
The Democratic plan is fairly simple, tax the rich more and stop borrowing to pay for defense, that generates maybe 100-200B$ a year in Deficit Reduction. And thats assuming that the IRS is able to collect all of that new Tax Revenue from the wealthy before they move that money oversees. The Republican plan is to raise taxes on the Middle Class by 200B$ a year, that was part of the 2009 Recovery Act but they also want to cut taxes further for the wealthy and spend more on defense. They don't know how to pay for that yet, to be fair no one does but they are the ones to offer the plan and then target about 15% of the Federal Budget or 600B$ in Public Assistance. Not eliminate it just cut it and do nothing for defense except spend more money on it, nothing to reform Social Security or Medicare, except turn Medicare into a Voucher System and nothing when it comes to Tax Reform.
Neither party has a plan when it comes to Deficit Reduction, at least not a plan they want to share with the rest of the country. Because its an election year and both sides know enough about this issue that any plan that actually solves the problem will end up offending a lot of people. Because it means making cuts and reforms in a lot of areas and the Federal Government doing less for the people.