Where are you on the ‘Doom and Gloom’ scale? Slate magazine has this article citing the decline of economic defeatism. I am not worried about the robust strength of the American economy, but knowledge of the history of the Roman Republic restrains my enthusiasm. The similarity of the ‘Bread and Circuses’ amazes me, while the Wars at the boundaries of civilization absorb the attention of responsible leadership. The Masses become acclimated to a ‘Tempests in a Teapot’, wishing the roar of words, rather than the labor of decent policy. We may have become ruined by mass interest in the functioning of our Government and foreign policy; the masses always clamoring for the current craze. Economists would claim that the economy is little affected by the roar of the crowds, yet a good 60% of our Government expenditure annually should not have been spent. We search for a balance, but one cannot be found where everything is based upon Goals, rather than Needs.
One can find an excellent examples of dedication to Goals rather than Needs. I break down the elements of this article to explain my reasoning:
1) Corporations are the most able to afford taxation, as taxation affects only their expansion and not their maintenance;
2) Sin taxes with tax-revenue neutrality ignorant of essential need;
3) Reduce Entitlements, but raise the age of eligibility rather than a more sensible Means testing;
4) Cut inefficient Spending–allow higher Food prices and traffic congestion, forbid recovery of valuable Real Estate, cease subsidization of effective mass systems to throw the high Costs back onto the Private sector–increasing Private Sector price increases and Business loss, and stop development of areas which cannot afford the initial Cost of development.
5) Abandon areas of the World which organize to destroy Us, and break the power of Organized Labor so Subsistence wages can be re-introduced;
6) make the total commitment to Free Trade, though other nations discriminate against Us–notice the lack of commitment to restricting this discrimination against Us;
7) stop bailing out Businesses, but blame prior Government action for the cause of the losses–never mentioning the deliberate violation of acceptable Business operation which was the real cause of the losses.
I would rather a program of Needs be adopted. Congress would pass an acceptable minima and maxima of Taxation. I would suggest a half-trillion of taxes from the Corporate World, a quarter-trillion of taxes from the small Businesses, and three-quarters of a trillion from Personal Income. I would favor a Constitutional amendment stating that Congressional Spending could not exceed Tax revenues without the active support (Vote) of 30% of American Taxpayers (who have paid Taxes 3 out of the last 5 years); the Vote taken by registered Social Security numbers, and the Expenditure directed towards approved purpose. Let more knowledgeable actually set the tax rates, while Congressional Committee of Three (Two Representatives and a Senator who are precluded from ruling on Tax rates within their own districts) are directed to hold constant Hearings to respond to claims of discrimination of Tax assignment by Tax Assessors. The End-Result may be more mass confusion, but I tried! lgl