Government

Tax and spend- what is a fair share?

I read the Center for American Progress and debt and deficits are no problem; America is rich. Our tax rates are too low. I read the Congressional Budget Office (CBO) and they say both debt and increasing deficits are indeed a big deal and a concern. 

According to CAP, raising taxes on the relatively few Americans earning $1 million (400-500 thousand Americans or the 0.1%) and the top 20% (households earning $120,000 or more – (in some states that’s two teachers), will solve all fiscal problems and allow for expanded social spending (paid leave, increased Social Security and college)

Somebody is right and somebody wrong, somebody is naive and somebody is misleading us. Somebody (perhaps both) are using bad math. 

Which conclusion do Americans want to take a chance on? Admittedly one sounds pretty appealing and the other not so much. 

AND, what the heck is a fair share anyway?𗀎

And exactly what will be done with more tax revenue? Will we decrease the deficit or pay down debt? Not likely; more like spend it all, create more long-term liabilities and continue down our current path to higher national debt. 

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3 replies »

    • I am sorry, But, more taxes is not the answer, less spending is the answer. Why does the U.S. government spend 7 times more on defense than the next 10 countries combined? I am pro defense, but this is getting crazy. Every office budget in the federal government needs to be cut, or at least no increase above 1% per year. No new spending programs unless something is cut to pay for it. Hard choices that the Congress and President just do not want to make.

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      • Hard choices Americans don’t want to make the bulk of the federal budget is spent on social programs including Social Security and Medicare.

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