Taxes versus Spending
A lot of folks in Congress don't seem to grasp that we are spending money we do not have. It's like the old joke, ‘I can't be broke, because I still have checks left.' The government is still issuing checks, but they are also issuing IOU's for nearly 40 cents of every dollar spent.
As the debt ceiling talks continue, it has become clear that the only way Congress will raise the debt ceiling is if significant and concrete steps are taken toward ending the annual deficit. There are really only two ways that can be accomplished- you could increase revenue by raising taxes, or you can reduce spending.
In the last fiscal year, the United States took in $2.1 trillion in revenue. We spent $3.4 trillion. It is almost impossible for anyone to comprehend numbers that are this big. I like to think of it in dollar terms that make sense to you and I. Our government essentially made $21,000 and spent $34,000 last year.
It's clear to me that there is still too much wasteful spending in Washington. I do not believe we should ask taxpayers to finance more overspending. We should do what every other family does and live within our means.
Raising taxes would also take money out of the pockets of small business owners. These are the very people we need to grow and create jobs. We can grow our economy and get our fiscal house in order at the same time.
Sincerely,
