Monday, September 19, 2011
The One Percent Solution
Mr. obama once again trotted out the idea of raising taxes this weekend. Instead of allowing people and business owners to keep more of what they produce and earn the president has once again declared that the people who contribute the most in the way of jobs, capital, and ideas should subsidize those who choose not to engage. Some of us have different ideas on how to solve our countries solvency issues. It does not involve greater theft from its citizens. Instead it involves slowly scaling back excessive expenditures. Reducing actual spending, not just the rate of growth of government spending, but true budget cuts of as little as 1% per year, mixed with an economic policy of refraining from engaging in economic policy decisions best left to individuals will have our country's budget deficit erased in 7 years or less. Assuming modest growth we could be paying down our national debt in real and substantial ways in less than a decade.
Posted by William Grafton at 2:14 PM