Budget Deal

Posted on July 21, 2011

0



News is getting out that the President and House Majority Leader are nearing the time when they will present a solid deal to Congress.

This deal seems to focus on spending cuts and seek future revenues through a tax overhaul.  Don’t lose sight of the ball here. Raising the debt ceiling has to be done. Spending cuts are definitely  in order. Where is going to be the real sticky point, but this Government needs to stop spending money we don’t have. But the real question is the tax overhaul.

The devil is always in the details. Making the rich pay more was never the answer to the problem. The answer has always been a fair tax rate without most of the loopholes. Before everyone gets crazy, taxing someone at a higher rate when they pay nowhere near the rate they are taxed at now is stupid. Having half the country pay no taxes is also stupid. And pure insanity is give people who pay no taxes a tax return.

These are all signs that the tax system needs to be overhauled. Change it to something that is both fair and equal to all people. And business should pay their fair share. What about a flat tax? Make it progressive and the rich will pay more and the poor will pay less. Stop with all the corporate tax breaks. Make the system simple. You make this much, you owe this. End of story.

Advertisements