There are Those who would claim that children are not direct participants in the economy, but then there is always a Study like the one here. Even if the effects of the Student disassociation remains only temporary, and doesn’t maintain a one-year loss of labor per lifetime; it still cost the Educational system an added year of Cost per Student involved. I have not estimate of the number of children retaking a Class year, but can evaluate a per-Student Cost of anywhere from $11-18k for local School systems. I am in a School District where it is estimated that expansion of the new middle school will add $40 to the bill of the average Taxpayer in the district. It is a minor charge within a Property tax which is raising about 8% per year, yet it is exactly the way in which We are getting the rise in Taxes. This is the arena on which Congress should be working, not an immense increase in taxation due to health care. We are rapidly working to a position where our tax structure will become unviable, though We cannot get Politicians to recognize the fact.
This short Piece highlights the previous Statement. The outflow of Taxpayers from New York is probably unavoidable as is mentioned, but new entrants into New York are 3.4 times as likely to be initially unemployed, with around 6 times the likelihood to add to the Welfare Costs of the system. New York may be able to handle the higher unemployment while the average Tax paid per Hour worked has gone down, but what is upper level of Welfare Costs which can be paid? We have to estimate that the proposed reductions in Medicare is only the tip of the Iceberg, and that a uniformity of Welfare benefits must be the first element on the political agenda. I would call for a convocation of State representatives in D.C. to discuss the regulation of Taxes, but it will not happen as Politicians fear it could too easily turn into a Constitutional Convention.
People still dance as Nero fiddles! This Post outlines the confusion at the Fed. Beware of any institutional leadership which will not talk about the real problems being confronted. The most noteworthy problem for the Treasury is the growth of federal debt–nothing else; but where is the policy position to oppose this Problem. Everyone has Lobbyists in Congress, except the Treasury and Federal Reserve. We live in a Time where all Applicants for the Oval Office must come from the most bloated Spending organization in the World. I might love to see a constitutional amendment stating that all Candidates for President, Vice-President, and/or positions like Fed Chairman and Secretary of the Treasury must have successfully completed some term of Office as State Governor or Head of a federal agency; all simply to be deemed qualified for running a much larger organization. The Constitution already has too many attachments, though, and both Populace and Court ignore any part of the document which is out of favor. I don’t know if anything will save Us from Ourselves. lgl