Originally Posted by BigRedChief
The only way out of this mess is to spread the pain around. Everyone needs to chip in and sacrifice. Just like you cant cut enough spending to get a balanced budget. You cant tax your way to a balanced budget.
No truer words have been spoken by a leftist...spreading the 'pain' around is the bottom line of the leftist philosophy. Im encouraged by your frankness. Yes, we cannot cut spending enough to balance the budget, but it does need to be cut by 1-2T annually immediately.
So, where does that leave us...what other options do we have. For me, it's a growing economy and cheaper energy...increase drilling, put in the pipeline from Canada, allow fracking, etc. With cheaper energy costs comes lower prices at the gas pump, in the grocery store, etc.
Second, is a dropping of the corporate tax rate by half, if not more. Entice bringing the money held up outside the United States to come back in, index capital gains for inflation, eliminate capital gains for anyone under the 250k threshold.
Last, elimination of Obamacare and that on top of the other two should spur enough growth that we could seriously attack our debt, increase growth and new business and that will increase demand for resources.
But I do agree, spreading the pain is not a good solution and has failed every time it has been tried.