There isn't enough money in the country to make the slightest dent in the $15.5T deficit - even by taxing at 100% (which would kill the economy once and for all). Spending more is NOT a good idea. Raising taxes on a weak economy is NOT a good idea. Not reforming is NOT a good idea. I'm hoping this bites Democrats in the behind during this election year, because they're laughing at a serious attempt - the only one we've seen - to keep our country solvent and prosperous. And it seems like more and more people know it. Paul Ryan said:
We propose that we repeal the president's disastrous health care law. We propose to save and strengthen Medicare by taking power away from government bureaucrats. We believe competition and choice should be the way forward versus price controls that lead to rationing. We also propose, as one of our hallmark issues to get to economic growth and job creation, to reform the tax system. We propose to collapse the six different tax brackets into two rates: A 10% bracket and a 25% bracket for individuals -- and a 25% bracket for corporations, which is at the international average and going to a territorial system.Good plans, for reasons aforementioned. Rush had a lot to say about the attacks on Ryan from the left, as usual. Some of his response follows:
And yet they tell us we're not spending enough money and we're not taxed enough. And every year this country's government spends over $3 trillion -- and of that $3 trillion, close to $2 trillion we don't have. That's above and beyond what's collected from tax revenues and other income sources for the government. Folks, it literally is insulting for us to be told that this country can't be run on $2 trillion.
We're being sold such a bill of goods. It's outrageous the amount of money that's being spent and what little we're getting for it. All we're getting for it is the empowerment of the Democrat Party and the destruction of our culture. The destruction of our society. And it's so much money, we can't comprehend it. One hundred thousand million is just 100 billion. And people start talking about, "Well, we're $2 trillion in debt and the federal budget is $3 trillion." We hear the number "three," which is a small number. We don't have any trillionaires, so it's not possible to relate to some individual who has that kind of money. No individual does.He's right, and he says it well. I'm sure many Democrats will go on thinking Rush is all lies and that the GOP all bad guys, but the debt crisis is already at the boiling point and we can't in good faith go on like we have been. That would literally be to run off the highest cliff with our eyes wide open, believing we'll be able to keep running at the bottom of it. There is no room for compromise in this issue, I repeat. Literally none. Wise Democrats will jump on board the reform train, and join the GOP in tackling this most vital issue. Contact your Congressmen. Vote against politicians who don't take this issue seriously, on both sides.
Except Obama. It's all his.
But it's a long way around getting to the point that we've got to start going the other way on the spending of money that this nation doesn't have. Because we are getting the money that we don't have from the tax payments that will be made by your grandkids. Do you realize the annual federal budget when your grandkids become 20 or 21 years old is already spent? The normal tax rates, if tax rates are what they are today, your grandkids' lifetime taxes have already been spent. What do you think their ultimate, real tax rate's gonna be if we don't get a handle on this?
And every time somebody comes up with a responsible way to get started on it, they get shouted down by the media, shouted down by the Democrat Party, ridiculed. It's just an election year trick. Meanwhile, the authors of this debacle continually are praised and held up with the highest regard as people with compassion and caring and big hearts. And they are the destroyers. It just offends my sensibilities to have the architects of an absolute national disaster come out now and dare comment on the competence, the quality and the relevance of Paul Ryan's budget. They have no right to say a damn word about it because they are the problem.