Everyone, but Warren Buffet, thinks that they pay too much in taxes. It just isn’t true. And, if we cut taxes, we won’t be able to pay off our National debt.
Let’s look at some things.
I have a credit card with a very modest balance. If tomorrow I quit my job and took one that paid 10% less, what are they chances the credit card will be paid off anytime soon?
That’s exactly what Paul Ryan and the Republicans are trying to do with the budget plan. They want to lower revenue at a time when the government needs to pay its credit card bill.
Now, I saw someone post a comment on another website about how Social Security doesn’t affect the National Debt.
You would think that we pay in 6% and our employer pays in 6% and the money sits there until we retire. Well, that’s not what has been happening. Like a bank loaning out your savings account, the government has been using Social Security. Unlike a bank, you’re not earning any interest.
The reason Social Security hurts the National Debt is because now the government has to pay the money back. If they don’t, there’s a lot of people who will get hurt. Any budget plan should include a provision that simply states hands off Social Security funds. Further, we should all have to pay on our entire incomes – all of it. The income caps should be removed.
Well, kids, that’s all the time I have for today. I need to return to work.
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