Let’s talk about taxes. They have to be raised. That’s it, it’s that simple. There is no other easy fix to the problem. We need to repeal the tax cuts that were put in place by Bush, and raise taxes beyond that.
Something truly drastic would have to be done otherwise, based on the CBO‘s report. I’m talking really drastic, like just dumping the entire defense budget and firing every serviceman in the country. No, that’s not a good idea. Social security is in trouble, you can’t exactly make cuts there. I guess that means education and health care should be slashed.
I agree with the Washington Post — I don’t think Kerry has a plan figured out yet that is going to cut it, but I think Bush has led a very bad example by pushing forward with tax cuts when we needed them least, seriously damaging the country. When you are in that sort of position of leadership, you need to be able to step back and say, at worst “OK, these cuts aren’t going to work because of unexpected terrorism-related issues, I need to roll them back.” I don’t, for a second, expect anybody wearing red to come out and say that they were ridiculous from the start.
This needs to be one of the most important topics of the debates.
No, really, Mr. President, how are you going to fix the budget?
Trickle-down did not work in the Reagan years, and it certainly is not working now. Kerry needs to make clear there is no way to achieve what he wants without raising taxes, and he needs to prove to the American people that this is necessary, which is just about as impossible of a sell as it gets. Unfortunately, Kerry is in a really bad place because Bush has set the expectation of lower taxes for the (rich) masses, but the people need to realize how much worse of a place those tax cuts have put every single American in, in relation to the rest of the world (provided you aren’t a well-hedged mogul with smart foreign exposures and huge loans). Interest rates must rise and our currency will become even more devalued if the current trends continue. I am just afraid that the average Joe is simply not going to care.
Isn’t it obvious? Am I missing something? What does it take to tell the American public the brutal truth, and to get things turned around?