MT: Minnick Didn’t Mention Sacrifice
What Minnick didn’t say is how he’d bring the deficits under control. Doing so means
abandoning the notion of cutting taxes without reducing spending and just hoping for the best. Almost half the current deficits trace back to Bush’s 2001 tax cuts, which lowered the top rate from 39.6 percent to 35 percent, repealed the estate tax and halved taxes on capital gains and dividends. More than a third stems from defense, including fighting wars in Iraq and Afghanistan. Entitlements - such as Medicaid - raised spending 10 percent and government programs cost 6 percent more in the last decade. Digging out means raising taxes, and not simply on the rich. You want these programs? You’ll have to start paying for them/
Marty Trillhaase
, Lewiston Tribune.
More here
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Question: To fix the huge deficit spending that started under Bush and is continuing under Obama, would you be willing to endure such sacrifices as tax increases, higher retirement age, etc.?
* This story was originally published as a post from the blog "Huckleberries Online." Read all stories from this blog