Let's tax the rich, cut entitlements and then what?
Democrats last week were urging their supporters to tax the rich. That’s in contrast to the message from the Republicans who were encouraging lower taxes, fewer regulations and cuts to entitlements.
I agree with both positions. In fact, I’d go further.
First, let’s take a look at what raising the taxes on the rich would do to our debt. “If the Internal Revenue Service grabbed 100 percent of income over $1 million, the take would be just $616 billion. That’s only a third of this year’s deficit,” according to Forbes. We’d still have a deficit.
So, what about cutting defense and entitlements like Social Security, Medicare, corporate welfare — no more bridges to nowhere or solar energy companies.
Can we do it America? We have to make tough cuts now. No more kicking the can down the road. The end of the road is in sight and it leads to a dangerous cliff. We begin making the sacrifices now or we face the inevitability of a total collapse.
Because there are more middle class, than uber rich people, we’re all going to have to accept an increase in our taxes. Those making $10,000 a year or $10 billion, we’re all going to pay. Period.
Now, grandma isn’t going to be thrown out onto the street. Let’s lose the scare tactics. No one is stupid enough to believe that we’re going to cut granny’s Social Security check or her needed heart medication. What needs to be done, is a realignment of benefits for future generations and raising the retirement age.
Partisan bickering has to end. Both political parties have gotten us into this mess and it’s going to take all of the people representing us to develop a backbone that will lead us out of this quagmire.
It won’t be easy, but each American is going to have to sacrifice. Without sacrifice and a nonpartisan attack on our debt, we might as well fold our tents right now and wait for the inevitable — a total economic collapse which will leave granny without food, her medicine and the rest of us scavenging to survive. It’s our choice.