I get it. I do.
But we can NOT reduce taxes right now UNLESS we reduce spending.
Now, I AM a proponent of the idea that when taxes are raised it acts as an economic inhibitor. That businesses will grow slower or even shrink. That as taxes rise, the amount of money we bring in is actually less than the amount we could have brought in.
But there is a limit.
So, where would you cut?
Here is a website that helps you understand where your money is going. It’s easy, just input your salary and you can see how much of your paycheck is going to which programs.
Let’s go look:
Let’s pretend that I make $40,000 a year. This is what my output looks like:
THAT is a lot of money! Just shy of 25% of the salary goes to taxes. And that says nothing of the amount of money that goes to taxes when I buy things. Sales tax, both mine and the embedded sales tax. Horrific.
However, we have the tax cut thing in spades. We all know that has to come down. But, from the list above, where would you cut?
Me? I’d cut:
- I would reduce the impact of social security. Both my contribution and my employer’s contribution. [ Quick note: Can you tell me why reducing my employer’s contribution actually helps me get a raise? ]
- I would reduce the size of the Defense budget. It’s the number 2 line item. And number 2 line items HAVE to be reduced. Simply have to.
- We need to identify what “Miscellaneous Mandatory Programs” are. And then cut ’em. I’m thinking 25%. Just ’cause.
- We have to stop growing Medicare and Medicaid. Have to. And a good start is to shrink it.
Pino’s recipe for Spend Less.
Unpleasant? Sure. Spending less always is.
But to be fair, our Liberal Leftist friends have a point. Where would we cut?