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Tuesday, May 26, 2015
A Better WayPosted Sunday, September 18, 2011, at 2:44 PM
There has been a lot of talk recently in political circles about "shared sacrifice". It is a noble idea, everyone shares in sacrifice in order to help the country get out of the recession that it has been stuck in since mid-2008. There is just one small (actually it is pretty huge) there are not a lot of people who believe in "shared sacrifice" and even less that will participate in the idea.
The idea has been floated that taxes should be raised on the rich in order to take the revenue from those taxes in order to pay off some of the debt. There have been numerous millionaires who have said that they did not mind paying more in taxes but politicians have balked at the idea and declared that the rich are being attacked for having to much money.
Politicians have declared that social nets like Medicare, Medicaid, and Social Security need to be reformed (some have gone as far as suggesting that all three need to be gutted or terminated) in order to fix the money woes of the country. In response it has been suggested that Congress vote itself a pay cut. Who among us think that will ever seriously be considered?
On the other end of the spectrum, while politicians balk over the idea of raising taxes on the rich because it is unfair, a vote came up in the House of Representatives to give a tax cut to middle class households. Surprisingly that bill failed. Some of these same politicians that voted against tax cuts for the middle class have, in the past, suggested further tax cuts for the rich and the elimination of the estate tax.
An idea has been floated and supported that more tax cuts are needed (specifically for the rich) and that will help spur the economy, otherwise known as trickle-down economics. Keep in mind that the tax rate in this country is at it's lowest level in fifty years. Yes, that means that under a Democratic president we are ALL paying lower taxes than the two previous Republican presidents.
Right now, there is absolutely no "shared sacrifice" occurring in this country and as long as the remedy for a failing economy is more tax cuts for the wealthiest the recession will continue.
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