Posted on 12/10/2012 7:52:59 AM PST by KeyLargo
Oh, I completely agree. There seems to be an argument to tax for the sake of taxing. Why hasn't anyone asked the question, what is the goal of our government, with all these new tax proposals? Is it strictly to pay down our debts, or is it to fund lots of new government spending ideas?
To your point, taxes alone will do nothing to bring down deficits without spending cuts. Without a negative slope on the budgets, we'll never eliminate our debts. In fact, we may not be able to get there anyway, paying all the interest owed.
IIRC Barry has already said the new monies will be used to spend more not pay anything off. I believe I have that correct. So, that much we know. Even so the the magnitude of increases (if Barry has his way) will be much more than taxes alone can pay for. This means more borrowing which implies an interest payment as well. If they plan to print their way to ‘prosperity’ that means (hyper?) inflation. Its hard to see a happy ending.
I agree about the spending question. It seems pretty basic to the debate. OTOH I think the pols understand that to be effective the Entitled Classes/elderly are going to take a big hit. I dont think most older folks could bear it and the Entitled Classes would riot.
I think the only way Barry could work things out is by nationalizing large chunks of the economy. For instance the energy sectors (oil, coal, gas) most of which he’d ship to China.
Even by doing that, how would we ever get back the true value to our country? How would we know if it was worth it? Washington isn't dealing with numbers you, I, or any private accountant would understand. No one can grasp the real value of unfunded liabilities our government owes, or the assumptions they're making for future revenue streams.
It boggles my mind that there are people hell-bent on spending any new revenues, rather than paying down debt. It truly is like a drunken sailor on liberty.
Survey: Small biz owners grew more pessimistic in November after election, Superstorm Sandy
Published December 11, 2012
| Associated Press
NEW YORK – Small business owners grew more pessimistic in November after the presidential election and Superstorm Sandy, according to a survey released Tuesday.
The National Federation of Independent Business said its index of small-business optimism dropped 5.6 points last month to 87.5. The index was compiled from a survey of 733 NFIB members taken throughout November.
NFIB Chief Economist William Dunkelberg said the biggest drag on the index was owners’ expectation that business conditions will be worse six months from now. The number of owners expecting better times ahead fell 37 points. Nearly half the owners surveyed are now pessimistic about the future.
Nearly a quarter of the owners said poor sales were their biggest problem.
Dunkelberg said owners in the states hit by Sandy were slightly more pessimistic than in the rest of the country. A greater number of owners in storm-battered states said they planned to cut their payrolls — not surprising considering that many businesses hit hard by the Oct. 29 storm are still unable to open.
Dunkelberg said the survey points to the election results as the biggest factor in owners’ darker mood.
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