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Week end finisher
Tax increase may not be so bad! A new look at how it just may work. By Bishop Ward
Tacking the debt is a big problem especially when there loom a $14 trillion national debt, according to Treasure Direct.gov.
Many of the debt problems have been pushed off on and blamed on Obama and his administration by the Republican Party who forget who started the downfall of our economy, "them", under George bush Administration.
When Bush took office from Bill Clinton in Jan 2001 the debt was nearly 6 trillion dollars. This rose to 9 trillion dollars and was such when Obama took over a slump nation that has fallen into recession in 2009.
In every recessions drastic measures must be taken in all areas of our economy to prevent and slow shut downs. Such measures were needed and needed fast. This is where the stimulus package came into effect.
Monies and help had to be given to all aspect of our economy to prevent either business or party from failing because each depends upon the other.
The Republican Party objected to helping Americans by attempting to block funding's for those losing their homes (Houses), or Aid to low income workers and the unemployed, Direct cash payments (Social Security, veteran on disabilities etc.), infrastructures (transportation and etc.), Health care , Education, Energy, Homeland security, Law enforcement, Repeal bank credit, Tax incentives for companies, Tax incentives for individuals and the list goes on. This price tag sent the debt up another 5 trillion dollars. But it worked.
Obama and his administration has only raised the debt ceiling another 5 trillion dollars compared to a balance budget inherited by George Bush where in 2001 of nearely 6 trillion dollars. Looking the other way and letting big businesses rob the country blind started the debt to rise out of control from over 5 millions dollars to 9 million dollars when Obama took office. Also, high cost wars all over the world was started and passed on to Obama.
The Republicans are saying Obama ran the debt to 14 trillion dollars when in actuality he added only 5 trillion to an already 9 trillion debt. This was needed for recovery.
The bottom line here is that when you are in debt you borrow to get out of it. This is how Americans have always taken care of their debts. The government is no different. In order to repay the debt, we cut back on spending ( cut taxes). Set a budget and (add money) to it for special needs.
Cutting back makes it hard to live properly. Sooner or later you will borrow from "Peter to pay Paul". The only recourse to paying off the debt and getting back to your comfort zone is to get another job that will bring in more money (tax increase). This is simple enough my dog can understand it.
Think about it!
Tax increase may not be so bad! A new look at how it just may work.