Saturday, December 1, 2012
How can you spend without taxing?
Now here is the question, politicians especially the Republicans don’t want to talk about. They hate to tax people but still they have their pet projects that they want to fund. They believe in the Small Government is good, but I don’t believe very few republicans want to remove Medicaid, Medicare or social security from the government payroll. They want to look strong on defense and want to hike the defense budget but don’t want to tax without which the revenue would not come to pay for it. The Democrats on the other hand want to keep on spending but since majority of the people hate to get taxed are in catch 22 position. The people want big government and they want the government to take the lead role in providing them services like I mentioned above but they don’t want to pay more taxes. Now what gives, where the revenue will come to spend it if not by taxes? We can keep on saying that we should reduce our spending but our biggest expenses are our entitlement which nobody wants to touch or even talk about it. Medicare, Medicaid, Social Security has to be funded by tax payers and we are going deeper into debt just to keep up with the entitled (I did not mentioned defense because it is not an entitlement and can be adjusted accordingly). There will come a time (certainly not to late) that we will have to raise taxes to keep on spending money on these entitlements or drastically reduce their scope and reach otherwise we will definitely fall off a fiscal cliff like the Greeks.