Kasz216 on 05 September 2012
| SecondWar said: To even attempt to deal with a debt pile of that size you need both serious tax rises and serious spending cuts. Unfortunately, neither party will do both. The Republicans will generally cut spending but will then also cut taxes. The military, which is sucks up a massive amount of resources, but seems almost immune to austerity. The Democrats will (try) to raise taxes but will also increase the level of spending, in the process getting a lot of negative press-attention from more vocal right-wing 'patriots'. People always want short-term, quick fixes but for an issue like this there is no such thing, any solution is long-term and will likely cause problems in the short-term, creating a backlash and only serving to make it worse. |
There is a secondary problem with Tax increases.
Generally it's been shown that whenever taxes increase. Spending increases offsetting any deficit reduction.
They can be a part of the solution but you need real dedication and heavy cuts to make it work.
Essentially making heavier then usual cuts, combined with tax increases, so the tax increase money is unallocated and can go where it's needed.
It's why I think we need a Libretarian government. They can come in, and smash down just about everything... then be replaced in 4 years and taxes can be raised up, and taxes put to more efficent uses.
