By the way, if you look at the recommendations I'd made above for how we could reduce government spending without sacrificing services in any way, what party would come closest to that?
Machjo, your recommendations, while making sense, are Utopian in nature. Both you and I know that there isn’t a snowball’s chance in Hell that any of them will be implemented.
When it comes to balancing the budget, I think everybody must do their part. The rich and middle class do their part when government increases the tax burden. However, the poor don’t pay any taxes. But they also must do their part. So to reduce deficit, there must be spending cuts, government must be ruthless about it.
Now, it is quite possible that a government which raises the taxes and cuts spending may well be a one term government. So be it. But that is what I would like to see Obama do in his second term (assuming he gets one). And also what I would like to see Liberals do if they win power (but this can only be done by a majority government). Once the current crisis is over, it is time to wield a sharp knife, cut spending. It is also the time to bludgeon the rich and the middle class with increased taxes.
The process of balancing the budget is never pleasant, there is plenty of pain involved. But it must be done for the long term health of the economy. And the only way I know it can be done is by raising taxes and cutting spending.
Machjo, your recommendations, while making sense, are Utopian in nature. Both you and I know that there isn’t a snowball’s chance in Hell that any of them will be implemented.
When it comes to balancing the budget, I think everybody must do their part. The rich and middle class do their part when government increases the tax burden. However, the poor don’t pay any taxes. But they also must do their part. So to reduce deficit, there must be spending cuts, government must be ruthless about it.
Now, it is quite possible that a government which raises the taxes and cuts spending may well be a one term government. So be it. But that is what I would like to see Obama do in his second term (assuming he gets one). And also what I would like to see Liberals do if they win power (but this can only be done by a majority government). Once the current crisis is over, it is time to wield a sharp knife, cut spending. It is also the time to bludgeon the rich and the middle class with increased taxes.
The process of balancing the budget is never pleasant, there is plenty of pain involved. But it must be done for the long term health of the economy. And the only way I know it can be done is by raising taxes and cutting spending.