It really is a spending problem, what is your estimate??

21 Jul

Raise taxes or trim spending or perhaps better, eliminate new spending programs until our fiscal house is in order.

Take your pick, but consider this, the government’s track record for predicting the true cost of anything is not good. In fact, it is dismal. The original projected cost of Medicare was off by ten times. The average cost of public works projects is understated by 50 to 100 percent. Your taxes to support Social Security were never to be higher than $90.00 per year. The projections and the ultimate reality of the cost of the Affordable Care Act will be no better. Even before it was off the ground major components that were supposed to pay for it were changed and the accounting made creative (think “doc fix”).

So if all this is historically true and it is, how can raising revenue possibly deal with such inaccuracy? Every new spending project will simply create another new problem down the road either adding to the deficit once again or requiring more taxes.

If politicians want to keep the masses happy with a new entitlement program of the day, let them add a new tax each time dedicated to the program and indexed to cover the actual costs. Then Americans can decide what they want to pay for, really pay for. Until that happens (like never), we are just kidding ourselves that raising taxes is the answer to our fiscal problems. LOL


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