Policy decisions about borrowing and spending have generated out of control deficits and spiraling debt at all levels of government. Partisan politics have frequently led to impasse as one-side refuses to compromise with the other. If a sensible non-partisan tax policy is not enacted, high tax rates and profligate spending will continue to drive individuals and businesses into the red and leave Americans without jobs.
Proponents say the FairTax could reduce debt while increasing economic prosperity and opportunity for Americans at all income levels.
Polarization and party loyalty are the rules of the day, hence rendering compromise unlikely. The need exists for more independent thinking – either by party members, or by independent candidates who wrest seats from the two-party system.
Is America a constitutional republic or a democracy? Whatever you want to call it, this much is for certain: once the voters of any country discover they can vote themselves money from the public treasury, no country is long to survive.
With the loss of a sense of shared sacrifice comes the loss of concern for going to war by the general public. What we can’t feel as a nation, we don’t care about as a nation. Hence the war in Afghanistan has dragged on longer than any other U.S. conflict but only recently has begun to raise the public ire.
Tax Day looms, but extensions are available, even GOP presidential hopeful Mitt Romney is taking one. New worries arise about Euro-zone finances, just on the eve of French presidential elections. Don’t forget Earth Day!
What exactly is the Buffett Rule? What is its main criticism? And how will it impact the national deficit?
The U.S. Census Bureau released their 2011 Annual Survey of State Government Tax Collections report today, showing state revenue from taxes increased in all 50 states last year.
