Cutting taxes will not solve nation’s problems
Vice presidential candidate Paul Ryan, when pressed for specifics on the costs to taxpayers of the Romney/Ryan tax scheme during a Sunday morning interview on Fox News, replied that, “If we started giving all of the details, everyone would change the channel.”
News flash for Romney/Ryan, people are already starting to change the channel. We’ve heard enough of the half-baked, thrice-tried “cut taxes and everyone will be popping champagne corks and spending like money is growing on trees.” We’ve been there and done that and now we don’t even have enough money to buy the T-shirt.
If you want to cure the deficit, the only sure way to do it is to raise marginal taxes on the wealthiest people, end corporate welfare, tax short-term capital gains at the same rate as ordinary income, eliminate or dramatically raise the cap on Social Security taxes, resume collecting inheritance taxes at a reasonable rate and stop wasting money on foreign nation building. Spend that money right here on American roads, bridges, power grid, schools and public infrastructure. Just stop the nonsense that you can have your tax rates at those of a Third World country without eventually becoming one.
Now is the time for Americans to step up and accept the fact that if we are going to grow our economy, rebuild our infrastructure, remain faithful to our values of shared sacrifice and maintain our social contract with those who are least able to fend for themselves, we need to raise taxes. It’s called economic patriotism. This is our time to come together and demand that our elected officials and leaders do the jobs we elect them to do on behalf of all of our citizens rather than for the select few at the top.