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Taxation...
Apr. 19th, 2011 08:07 amThe more I think about the GOP behaviour over the Bush tax cuts the more angry I get. When I look at graphs showing the current US deficit and realise that just removing the cuts would have basically halved it without spending "cuts" I get really really annoyed.
When I then hear Tea Party types whinging that "ooooo but it's my money" I want to hit something.
1) 3% on over $250,000 is nothing - you won't even notice it. It will take more effort to pick up the phone to call your accountant for options than to pay it
2) There's a revenue and expenditure problem, live with it
3) Income inequality in the US is at a point where something probably is going to give and it won't be pretty when it does
4) It's never been your money. You're 26, you're living at home with your parents and they've been picking up the tab, or you've been throwing the nights out and the cool games and stuff on your credit card and now mum and dad decide it's time you move out. Except you find that moving into a place of your own costs 4 times as much as you were paying mum, and utilities are extra, and the fridge doesn't fill itself, and the guy from the credit card company keeps calling about the payment...
When I then hear Tea Party types whinging that "ooooo but it's my money" I want to hit something.
1) 3% on over $250,000 is nothing - you won't even notice it. It will take more effort to pick up the phone to call your accountant for options than to pay it
2) There's a revenue and expenditure problem, live with it
3) Income inequality in the US is at a point where something probably is going to give and it won't be pretty when it does
4) It's never been your money. You're 26, you're living at home with your parents and they've been picking up the tab, or you've been throwing the nights out and the cool games and stuff on your credit card and now mum and dad decide it's time you move out. Except you find that moving into a place of your own costs 4 times as much as you were paying mum, and utilities are extra, and the fridge doesn't fill itself, and the guy from the credit card company keeps calling about the payment...
You have to earn more money and you need to reduce the amount you spend.
But later, when you're sorted out and you want to but a place, put your kids through school etc... funny thing is... it's probably worth borrowing the money to do that, in fact, most people tend to owe several times what they earn a year on their mortgage.
So, a truly balanced budget is bollocks too.
