Posts Tagged ‘taxes’

National Debt

September 12, 2017

I am concerned about our national debt.  We continue to spend more money than we take in.  Every month we create a bigger problem for our nation.  If our government were a family or a business, it would clearly be heading towards bankruptcy.

Can a government go bankrupt?

For a family or business, this problem is pretty straight  forward.  You must reduce your spending, increase your revenue or a combination of both.  I imagine that it is the same for a country.

Our leaders need to be taking this more seriously.  It is not enough to reduce the annual deficit.  We must eliminate the annual deficit and begin paying off our debts.  Cutbacks in spending is the first step.  Of course, people will be unhappy when something that they care about is reduced or dropped, but tough decisions need to be made.  Families do it all the time.  Businesses do it all the time.  Our country and our leadership need to distinguish between those things that we truly need to have in our budget and what things we can do without.   If you do not want to eliminate programs then you must reduce the amount spent on each.    The total expenditures should not exceed the total income.

Revenue could be increased by reducing or eliminating some of the many tax credits that are offered both to businesses and to individuals.  Tax rates also could be raised.  Taxes were higher back in the 90’s, but I seem to remember it as being a fairly prosperous time as a nation.   At the end of the Clinton presidency, we actually had a surplus.  Unfortunately, the first thing that President Bush did was to give that money back to the people and lower tax rates.  The tax rates should have been left alone.  The surplus should have been used to start paying down our debt.

We have a problem and it is getting bigger.  Our politicians need to make the tough decisions.

We can encourage them to act by creating awareness and calling for action.

We can contact our senators and representatives and tell them that this is important to us all.

 

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Raising Revenue, but not Taxes

February 28, 2013

I have entered late into the political arena.  Last year, for the very first time,  I attended the local and district  caucuses.  It was an educational experience, and I think that I will continue to be involved at least to some degree.

Just this week, I had another first.

I emailed our state senators and our representative.

I have often thought that I should contact those who serve us, but until now, I have not ever taken the time.

I should have started these activities earlier in my life.  It was not difficult.  Democracy works better when people take the time to be involved.

Here is the email that I sent.

Message: Dear Senator, 

I, along with many others, am concerned about the budget deficit.  I would like 
to make a suggestion about how to raise income without raising taxes. 

Limit tax returns. 

As it is right now, individuals can utilize a whole variety of tax credits that 
can enable them to get enormous refunds that far exceed the tax money that they 
actually paid in to the system. 

It could be set that no one receives a tax return that exceeds the amount that 
was actually withheld from their checks.  They would still get their money back, 
but nothing extra.  

It would be necessary to adjust the W2s so that their was a distinction between 
money paid by the individual and money paid by their employer, or better yet, 
just don't show the amount paid by the employer.  The individual should only 
receive the money back that they paid.  

This would accomplish two things: 1. less excess money would be paid out for 
credits that exceed money received, and 2. the taxes paid by the employer could 
be kept. 

Technically, no taxes are raised, but the net benefit to the government would be 
substantial. 

Thank you to whoever actually reads this email, I hope that it will at least be 
considered.  

Sincerely, 

Curtis Girod
At this time, I have received basic form letters back from two of three that I contacted.  I also, noticed my misspelling of “there” with “their”  but I did not correct it for this post, since it was not correct in my original email.  I will need to be more careful.

At any rate, I would encourage you to be more involved in the political process.  Keep an open mind, be willing to listen, not just speak, avoid harsh rhetoric, and let us see if our political climate can improve with our participation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Something’s Not Right

April 12, 2010

According to the Quad City Times, April 8th edition, nearly half of U.S.  households will not have to pay any federal income tax.

That just doesn’t seem right. 

Why should one half of the country pay the cost for the other half?  I understand that the people who make more money should pay more in taxes, and I fully support that concept, but that doesn’t mean that 47% should pay nothing!

Politicians get elected by lowering taxes.  Politicians think that rebates and credits will stimulate the economy.  So politicians reduce national income and increase spending.  This is a problem.

It has gotten out of hand.  We have an enormous national debt.  We need to reduce spending and increase tax income.  We need to be financially responsible as a country.

Everybody who has an income can pay something.  We should be sharing the load, not getting a free ride.

Reduced Freedom

March 31, 2010

The passage of the new health care bill will result in many more people having coverage.

Whether they want it or not.

The bill will require companies to provide health care coverage, or pay a fine.  Either way it will increase the cost of doing business in the United States.  That cost will be passed on to customers.  It will also be one more reason to send jobs out-of-country, where the cost of doing business is cheaper in many ways.

The bill also requires individuals to purchase health care coverage, if they do not have it provided, or pay a fine.  Yes,  there will be a subsidy, but for many people, the subsidy will not cover the cost.  It will be one more added expense for people who already are having a difficult time.

Comply or be fined.  Those are the options, and it is a reduction in our freedom to direct our own lives, and our own businesses.