Over the last two months there has been an increased register of opinions on whether the Bush tax cuts should be extended or allowed to
expire:
While on the surface of the argument the Bush tax cuts proponents have the upper hand. But I believe that political motivations hide the facts behind
how government handles taxation, and whether "tax cuts" are of any benefit without spending cuts. Our national debt is
enormous. The nations consumer debt load has officially hit a wall, and with nowhere to go, the only republican
argument that holds water on the subject is that right now is not a good time to raise any taxes.
We are, despite efforts by the Federal Reserve system, in the throws of credit deflation. The government is throwing good money after bad to try to
slow down the destruction of personal credit with the credit of the United States as collateral. We have been on this road for so long that the
consequences of our actions are becoming predictable indicators of our downfall as an economic powerhouse. Many things come into play here:
Manufacturing, lack of localized industry, education... But lets focus on just taxation...As all of these play a big part in generating the credit the
US Government uses as the backstop for their reckless spending.
The Grace Commission Report(A.K.A PRESIDENT'S PRIVATE SECTOR
SURVEY ON COST CONTROL) was released to congress in 1984. At the time it had predicted that if no reforms to the tax code, and to the way industry is
"regulated" were made that by the year 2000 our national debt would skyrocket to 13 trillion dollars. This report did not take in to consideration
discretionary war spending. The report also concluded that 1/3 of taxes collected in the US disappear due to fraud and unmitigated waste. Another
third were failures in collection and the costs of pursuing those collections as well as administrative costs and IRS employee pay, pensions, and
other benefits. The last two thirds of collected taxes are eaten up, 100%, by the interest on debt-That was in 1984....This tax structure, regardless
of "Cuts" and other class warfare BS from Dems and Reps, continues to plague us today. Only now that debt, if one includes unfunded liabilities,
discretionary war spending, and future expenditures like the new HC law, would require the complete taxation of all of our earnings as a nation(100%)
for several years in order to nick away at the principle.
These are facts folks. I don't care what side of the Bush tax cut argument you're on, you'd better be taking these things in to account. You had
better understand where your argument fits into the tax scheme in our nation. Because any rosy BS you can come up with to support or disparage the
Bush Tax cuts does not deal with the reality of our fiduciary health.
In my opinion the Bush tax cuts are a misnomer. We have a tax crisis in this country because the government refuses to remove or reverse spending. The
deck is stacked against the 2/3rds of working folks across the country. With 80,000 plus pages in the tax code, how this structure can do anything but
weaken all economic and social classes in this country a mystery to me. They have us busy arguing whether the wealthy(the ones who sign your effing
paycheck) are deserving of that money. They have us arguing whether the Bush tax cuts have a positive effect on an already dead economy...It makes no
sense, you don't put perfectly good medication in people who are dead.
We should be arguing...On the Left, the Right, and everything in between, whether the tax system we have now is fair to us as a nation, fair to our
future generations. We should be asking why we spend so much to maintain our military power around the world. We should be asking whether expanding
domestic government, which requires real economic output to operate(other people's money) is a good idea.
I don't see these as partisan issues. There are two realities in economics, the delusions of politics, and the realities of nature. If you're a pack
of wolves, and you live in an environment with plenty of food, your population will explode over time. Since you're wolves, and you lack resource
management skills, you will eat and eat in order to sustain a parabolic increase in population. What follows, if a replacement for the food isn't
found, is a parabolic decrease until a sustainable number of you can be reached, if the trend continues an extinction(depression) will occur. It is a
natural mechanism in nature to clear out excesses. It is no different in human systems, as we are part of Nature, we are subject to natural law. If an
economic system does not have the means to expunge the excesses the system will collapse entirely, leaving very little to salvage.
You can't argue with nature. It is high time we took an honest view of how we handle the various systems we've put in place. It is high time we
learned to accept the consequences of our actions, to face the nature of our "must have it now" culture for the destructive excess that it is. We must
practice real free market economics, not the neo-Keynesian house of cards where mad government scientists attempt to rid the world of responsibility,
and in doing so create monsters that can't be fed enough to sustain...They must eventually be killed. A real Free Market where one must accept
responsibility, where one pays for their mistakes, where the people set the rules.
Taxes...Bush's taxes...He can shove 'em. I need a real solution...I think it's time to abolish the current tax code, shrink this government down to a
point where it is no longer a threat to us, itself, and the world. We must restore the sense of restraint and responsibility lacking, not just in
Washington D.C. or City Hall, but in our own homes and hearts. It's time to roll up your sleeves American, get back to work-You're on the clock.
You're always on the Clock.
"It is the common fate of the indolent to see their rights become a prey to the active. The condition upon which God hath given liberty to man is
eternal vigilance."
edit on 23-9-2010 by projectvxn because: Grammar, spelling, and other errors.
edit on 24-9-2010 by projectvxn because: To finish a sentence I forgot to finish...Totally changes the meaning of the post.