From what I’ve been reading about the amorphous plan from the so-called “Gang of Six”, I think it’s a loser; there don’t appear to be any genuine cuts, or, rather, credible promises of cuts, in government spending, and although marginal income tax rates would be reduced, apparently tax revenues from other sources would reflect a net increase. Some conservatives like it in a qualified way, others condemn it categorically.
Now, just like Contessa Brewer, I’m no economist, but it seems to me that we’ll never restrain the expansionist appetite of the federal government if we don’t truly begin to starve the beast (although, as Tim Blair says in another, but not entirely non-analogous, context, it depends whose side you’re on). I invite readers to weigh in with their own observations and opinions.
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2 comments:
It's a very difficult situation because they have foisted a structural deficit on us with all of the new agencies, commissions and regualtions. It's not just an increase in spending but a gigantic leap in the base. This will need surgery which can't happen until 2013.
Just as important, to my mind, is the gigantic power structure that exists. It will be much easier to devolve government is this is assaulted. To my mind we need two things.
Some iteration of a flat tax. The tax code is a trmendous source of power and influence. If you do away with this you get rid of a BIG chunk of corporate and special interest lobbying.
Term limits. I really hate to resort to this but there are just too many safe districts out there. We shouldn't have career legislators. Nothing is going to completely stop the revolving door but if you cut off their sources of power and influence you stand a better than even chance of turning off the faucet.
Donate to any tax deductible cause you favour, thus lowering your gross income and giving this pack of socilaist scum less money.
At least, I think that's the way it works!!
Redirect your taxes!!
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