You can read Myth’s 1, 2 and 4 here should you care to; my purpose for the moment is to mug and pummel the idea that spending is not the problem and this helps illustrate that.
The revenue problem refers to the notion that revenues are too low. Typically, special attention is drawn to the tax rates paid by the “wealthy.” However, taxes are not too low. In actuality, taxes are too high. Once again, take a look at the last 20 years. In 1992, federal tax revenue totaled $1.642 trillion in 2012 dollars. In 2012, revenue skyrocketed to $2.435 trillion in 2012 dollars. While federal spending has eclipsed revenue by more than $1 trillion each of the last four years, too little revenue has not been the culprit!
Put another way, imagine that you are earning 793 billion more dollars today than you were twenty years ago and yet your lifestyle still exceeds your income by more than a trillion dollars a year.
Do you think the someone with the Name tag that reads ‘Hello My Name is: Federal Government” could use a little intervention?
If this is Lindsey Lohan she’s a train wreck and we all point and laugh. perhaps feel sorry for her, and maybe even hope she goes broke so she can learn a lessons, but that is only because it’s not our money.
But this is our money! And to the people who think they are getting something for nothing because it is not their money–it is your money. The economy is a closed system. It has to come from someplace. The feds may not be taking out of your hands but the act of taking it from others has consequences you cannot afford; fewer jobs, lower wages, more expensive food, gas, electricity, everything. You are paying for it, as are our future generations. Nothing. Is. Free. And neither are you in this scenario.
This cannot be sustained and any one who tells you different is lying or stupid.
All the combined wealth from all the “rich” people in America couldn’t put a dent in just one years worth of federal spending, forget the entire deficit and the extra trillion the government blows through annually. There are not enough dollars to tax to deal with the deficit on this spending arc.
The government spends too much, and what makes that worse is that it also promises too much, to the point that the growing culture of dependency only exacerbates the volume of people who will be left with nothing when they discover that every government safety net they were promised was made of paper, and borrowed paper at that.
Ask anyone who bought into the government lie that everyone should have a home? Health insurance wont be any different. Re-electing Obama on the promise of free stuff will not turn out well.
Yes, some people will get what they deserve for falling into this trap, but the real tragedy is that they will take the truly needy with them and none of us will be in any position to do anything much if anything about that.