Why Is The Country Broke?Posted: 23 March 2010
Subject: Economics/Public Policy
Budget Deficit #5
In the past year there has been hours upon hours of the threat of the country going broke…surely you are aware of this by now…..Is it broke? Then how does it happen?
Repubs and conserv Dems, which includes everyone in Washington, say that it is the fault of entitlements and the out of control spending that the government has engaged in…..But how did our lack of cash come about?
If we listen to Repubs it is the give a ways from the entitlement programs…you know the services like Social Security, Medicare, etc….they say that these programs are eating up more and more of the revenue of the US and that it must be stopped…and of course, it is all the fault of Baby Boomers and their damn need to retire…
I have given this talk before…..I AGREE…it is all the fault of the give-a-ways….surprised?….Do not be…the give a ways I am referring to is taxes……apparently dipsticks do NOT know that taxes are the sole source of revenue for the country and every tax cut is doing NOTHING but making life worse for the people…..okay, it is a popular issue….everybody thinks that life will be magically better when tax cuts kick in…..my question now is….after 20 years or so of these magical mystery benefits…..how has it worked out?
Look at the states and their problems…..almost every problem that they face is because for a couple of decades they have given away all the state income in tax breaks and such to companies that they want to attract to the state….once again…how has that worked out? If you want states to solve the ills of the society, then that will take money and tax cuts do NOT generate anything but votes….but yet the people still think that tax cuts and breaks and incentives will be a magic pill that will cure all the problems that come to light……it is a LIE! And anyone that believes that is DELUSIONAL!
Everyone can relate…..without income there is NO progress or stability! The use of stats to make the case for tax cuts is another lie…….look at reality…..poverty has risen during the years of the tax cuts….so who benefits from the cuts? Bet it is not YOU!