No one likes to pay taxes, but our debt is approaching NINE trillion dollars and the spineless wonders in Washington don't have the political will to do anything about it. In the meantime, this debt is going to get passed along to our kids. What a legacy...It's just not right.
2006-09-06 07:53:06 · 18 answers · asked by jim 6 in Politics & Government ➔ Government
No I think Clinton's Pay-As-You-Go economic system that Bush discontinued in 2001 should be re-implemented. That would fix the deficit just as Clinton did.
2006-09-09 21:36:24 · answer #1 · answered by BeachBum 7 · 0⤊ 0⤋
A better solution would be to stop spending. Instead of collecting 2 trillion in taxes and spending 2.5 trillion, they should collect 2 trillion and spend 1 or 1.5 trillion. Anything not spent would pay off the debt. This keeps taxes where they are or lower, and pays down the debt.
The only downside to my plan is that the politicians would have to say "no" to their constituents. They'd have to cut out a ton of useless programs and fix the rest to accomplish this spending cut (i.e. eliminate NEA, turn national parks over to states, eliminate research grants, reduce SS and Medicare benefits, no more Viagra on Medicaid or to prisoners, etc., etc.)
Since it is physically impossible for any politician in washington to actually say "no" and reduce spending, my plan is nothing more than a wistful fantasy. We need a law banning politicians.
2006-09-06 08:01:19 · answer #2 · answered by Aegis of Freedom 7 · 0⤊ 0⤋
I do not think that a national tax to reduce the debt would be such a great thing. There would be one more tax to pay and if that does work to decrease our debt then the government will see the money come in and start using it (diverting) to another more pressing issue.
If we needed to decrease the debt then we could by cashing in some favors and we could also stop feeding the whole world and worry about ourselves. America cannot just worry about itself and needs to help everyone, which makes this country the best in the world.
2006-09-06 07:58:20 · answer #3 · answered by Michael R 3 · 0⤊ 0⤋
Not until they cut up the credit card. Besides sales tax is regressive. There are better ways to reduce the Reagan (National Debt).
Without including SS in the 'consolidated budget' (the Johnson) it would be a lot more than 9 trillion.
2006-09-06 08:44:17 · answer #4 · answered by Woody 6 · 0⤊ 0⤋
A national sales tax would be patently unfair because the standard of living varies so greatly from one area of the country to another. People in NY would be getting by dirt-cheap while people in, say, Arkansas would be paying through the nose.
Besides, as liberals will tell you, it'd hit the poor the hardest.
2006-09-06 08:14:35 · answer #5 · answered by Lawn Jockey 4 · 0⤊ 0⤋
Time to just write off the debt, at least the part owed to foreign countries (not domestic govt bonds held by US residents).
The total debit is never going to get paid, and no other country can enforce it against the US. Besides, roughly 10%-15% of our annual budget is just the interest payments on the debt.
So, if we're going to start ignoring every other rule of international law, we might as well finish with this one. Just default on the debt, because there's nothing any other country can do about it.
2006-09-06 07:56:33 · answer #6 · answered by coragryph 7 · 0⤊ 1⤋
Any little bit would help. But unless you want to pay $200 for a Reese's Cup, it would mean very little, unfortunately.
It would be a lot better to just send all the republicans to Iraq since they love it so much. After all, they've spent all our hard-earned tax dollars there while pandering to our filthy rich, who should also enjoy the benefits of living in Iraq, the Beacon of Freedom and self-government.
2006-09-06 08:23:25 · answer #7 · answered by Anonymous · 1⤊ 0⤋
A national sales tax INSTEAD of payroll taxes would be a much more effective way of taxing. After all, those with more money spend more money.
The only problem is that a black market would form....a whole underground system of buying and selling merchandise eluding paying the sales tax.
2006-09-06 08:03:03 · answer #8 · answered by ●Gardener● 4 · 0⤊ 0⤋
not me
Who thinks putting someone else in the presidency would help with the problem? If clinton only did a few things one was that he had a few years where the gov't revenues were more than the expenditures and the debt was being paid off . . . .
2006-09-06 07:57:51 · answer #9 · answered by annie*bananie 2 · 0⤊ 0⤋
No, because the government would end up using the money for other things besides the national debt!!!!
2006-09-06 07:55:21 · answer #10 · answered by jb 4 · 0⤊ 0⤋
You are assuming you could trust the govt. to use the money as they said they would.
There aren't too many guarantees in the world but one thing you can count on is "don't trust a politician". Remember that political memory can only last a maximum of 4 years, and the average is more like 4 weeks.
2006-09-06 08:01:37 · answer #11 · answered by icetender 3 · 0⤊ 0⤋