Monday, August 22, 2011

Fixing our economy

By Chris McG... uh I mean Nathan Stout (of AccordingToWhim.com)

Today's post is a total rip off of some points Chris made to me and some counterpoints I made to him the other night while I was watering my trees and talking on the phone. We roll like that... Chris said he could write a blog like this but he tended to get way out of control and would go off in every direction so he hasn't. I told him I would do it since I love writing VERY narrow and simple views on things (right or wrong).

FACTS
  • The U.S. owes money. 14.6 trillion at this moment.
  • The U.S. needs money to operate.
  • The U.S. needs money to pay off it's debt too.
  • The U.S. gets it's money from the taxpayers.
  • The U.S. is not getting enough money to operate and pay off debt from the taxpayers.
OPINIONS
  • One side of the aisle thinks that taxing more will save the day.
  • One side of the aisle thinks cutting back on expenses will save the day.
  • Part of one side of the aisle thinks balancing the budget (the operational side) will save the day.
CONCLUSION
  • Anyone with an ounce of sense can see that neither of those opinions will work on their own. You need a melding of the two.
SUGGESTIONS:
  • Chris pointed out to me that Warren Buffett said that the tax rates for the rich and the middle class are off kilter (not their words). Tax rates hurt the lower classes because they pay more thanks to payroll taxes, while the rich (who don't work and don't pay those taxes) make their money off investments and such (which are at lower tax rates).
  • When you hear sound bites on TV about this argument it is never clarified. All you hear is 'the rich should pay more' or 'their fair share'. The facts should be put out there so people don't see these tax generating ideas are not just an attack on part of the populace. This is how I have always perceived it.You should not be 'punished' for being successful. With all these sound bites that's exactly how I was hearing this argument. 'Punish the rich for getting it right'!
  • Chris also pointed out that NOTHING will work in paying off this nation's debt UNTIL you have a balanced budget. More money means nothing if you are just turning around and paying it back out (and not paying off that debt).
FINAL
  • Once again this all comes down to a thought I had a while back in this most excellent post. The government needs to behave like the average American family when it comes to money and budgeting. When you can't pay your bills you cut back (until you pay off your debts).
SOMEONE IN CONGRESS READ THIS
  • This blog post (less than 500 words) has the answers to all our nation's problems. Read it, re-read it. Forward it on...

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