More And More The Talk Sounds Like Making Things Worse By More Of The Same
By: Doug Busselman, Executive Vice President
From the sounds of things coming from Washington, D.C. there seems to be some hints that the stimulus spending our federal officials have lavishly expended, while not demonstrating the capability of accomplishing anything other than greater debt, will probably be repeated with another stimulus proposal. This report from long-time Washington, D.C. observer George Will also observes that tax increases are not far off in the plans with suggestions that these plans include the possibility of inventing a new one to further suck the resources from a dying U.S. economy.
You have to wonder about whether there could be any traction for Congressional approval for further spending and increasing taxes. Entering an election year, it would be pretty amazing for these elected officials to believe themselves to be so invincible that they believe they would be able to get away with further fiscal irresponsibility and then placing a further tax burden on those picking up the tab.
In case you might have missed the detailed information in Will’s piece, we want to draw further attention to this factoid…
Weigh that information – lock it into your easily retrieved memory storage – and let’s see what emerges as this policy discussion evolves.
From the sounds of things coming from Washington, D.C. there seems to be some hints that the stimulus spending our federal officials have lavishly expended, while not demonstrating the capability of accomplishing anything other than greater debt, will probably be repeated with another stimulus proposal. This report from long-time Washington, D.C. observer George Will also observes that tax increases are not far off in the plans with suggestions that these plans include the possibility of inventing a new one to further suck the resources from a dying U.S. economy.
You have to wonder about whether there could be any traction for Congressional approval for further spending and increasing taxes. Entering an election year, it would be pretty amazing for these elected officials to believe themselves to be so invincible that they believe they would be able to get away with further fiscal irresponsibility and then placing a further tax burden on those picking up the tab.
In case you might have missed the detailed information in Will’s piece, we want to draw further attention to this factoid…
”Partly because of changes endorsed by presidents from Ronald Reagan to Barack Obama, approximately 60 percent of taxpayers now pay either no income tax (43 percent) or less than 5 percent of their income. Because one cannot raise significant money by that tax without nicking the middle class, or without bringing millions of people back onto the income tax rolls, attention is turning to a value-added tax.”
Weigh that information – lock it into your easily retrieved memory storage – and let’s see what emerges as this policy discussion evolves.
Posted by Doug Busselman at 7/13/2009 4:12 AM 
Categories: Federal Stimulus
Tags: Federal Stimulus Taxes Government Spending Congress
Categories: Federal Stimulus
Tags: Federal Stimulus Taxes Government Spending Congress
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