No one likes it, but for the country to keep paying our national debts and to uphold American living standards, we need to raise taxes, especially on the millionaires and billionaires.
Let’s face it: There’s no free lunch in America these days. These are hard times. Unemployment is at 9 percent. My solution to earn billions back for the United States Treasury is for us to get out of these no-win wars. Let’s save American, Iraqi, Afghani and Yemeni lives. The U.S. can do more good when it gets its own house in order.
It’s almost enough to make you feel sorry for Republicans. Almost. The mess the GOP finds itself in, after appointing itself to Medicare’s “death panel,” would be laughable if it weren’t also so pathetic.
Especially since it’s a mess of GOP’s own making, and they know it. That’s why Republicans pitched a collective hissy fit when — and this is the beauty part — Newt Gingrich told them the truth.
As you may have heard, the federal government hit its $14.3 trillion debt limit Monday —something the Treasury has been warning Congress about for months. There are a lot of good explainers out there about what this could mean. Some dig into what actions the Treasury might take; others into the oh-so-exciting history of the debt limit.
We’ve waded through them and pulled what we found to be the clearest explanations not only of what the debt ceiling is and how it works, but also the fundamentals of whether it’s necessary and why this debate may be more partisan than it is practical.
When we hear about the deficits you hear a lot of scare stories, which most “serious” media just echo and amplify. The prevailing “serious” narrative we hear is that we must cut entitlements — any “serious” budget proposal cuts Medicare and Social Security. Even though they just extended tax cuts for the rich the deficits are the worst problem in the world, ever, so we are supposed to be really scared and give in. Seriously.
Polls show that the public wants taxes raised on the rich, cuts in military spending and more & bettter-paying jobs. The public isn’t stupid, because it turns out that these are exactly the things that economists say will get us out of the deficits. But raising taxes isn’t considered a “serious” deficit-cutting option. Either is cutting military. And to top it off, in DC the idea of creating more and better-paying jobs is so unserious that it isn’t even discussed.
Rep. Paul Ryan from Wisconsin revels in his rep, inside the beltway, as America’s ultimate conservative public policy “wonk.” He plays the part well. He knows his lines. He can rattle off, at the drop of a hat, a stream of stats that make his rich people-friendly budget nostrums seem eminently reasonable — and good for us all.
Last month, for instance, Ryan smoothly dispatched an angry constituent who dared challenge the tax-no-rich federal budget plan that has made the Wisconsin lawmaker a right-wing hero.