Thursday, November 24, 2011

It's broke. Time to fix it. Article #5

It's broke . . .

When it comes to eliminating the nation's debt and balancing the budget there has been nothing but a stalemate in Congress. * Conservatives want cuts without tax increases. Liberals want tax increases without cuts. Both won't give an inch.

Now, as a fiscal-conservative, I have to sympathize with the conservatives here. Both Presidents Reagan and Bush (senior) agreed to a congressional plan to raise taxes $1 for every $3 in cuts. Both Presidents were blasted (and rightfully so) for this move, and they both regretted making it. Why? Because the tax increases took effect immediately, and the cuts were to future spending. None of the cuts have ever come to fruition. Why? Because you can't force a future Congress to abide by budgets set under previous congresses.

The solution is simple: put in a stipulation that states that if the tax cuts do not take place by a certain date, the tax increases are AUTOMATICALLY rescinded, including reimbursement to those affected (including those evil rich people). Make it a hard and fast law that a future Congress can't break.
Now THAT'S what you call a compromise we can live with!

. . . time to fix it!

* Generalization - both conservatives AND liberals have not been too keen on spending cuts

© Emittravel 2011

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