There is
something I don’t understand about government finance. Republicans go on and on about paying down
the national debt while at the same time exploding it with their tax cuts.
Who the fuck,
what country, is lending the United States trillions of dollars that we are
obligated to pay back?
To my
understanding, we are the richest country in the world, so what country has
such a financial excess to the extent they can lend us trillions of dollars, or
is this some kind of creative accounting where we spend more than we earn from
taxes and then just write it off as an IOU to ourselves?
We keep
hearing about paying the interest on the debt; but to whom?
There was a
time when I was young that I paid only the interest on a loan for several
months because I couldn't afford the monthly payment. That certainly wasn’t a sustainable solution
to debt.
The answer
to me is clear: everyone making over one hundred thousand dollars a year pays
five percent income tax – no deductions – no tax shelters. Businesses valued over a million dollars pay
ten percent of gross. In return, a cap
is placed on government spending, and we receive universal healthcare at 100%.
We know who
is making the money under the present system: and it ain't us.
the Ol’Buzzard