While I have said the same things before, my rather meager college education prevents me from such clear articulation as the following:
Politicians and citizens have gradually discovered a powerful new principle of political economy: The government provides large numbers of voters with immediate personal benefits that greatly exceed what it charges in taxes, billing the difference to future generations. This principle is the driving force of the Biden plans, which would be financed mainly by new borrowing, not taxes.America’s Welfare State Is on Borrowed Time, WSJ 5-5-21
The principle is less salient in other advanced democracies because they raise healthy revenue from broad-based and often regressive levies on consumption, such as value-added taxes. The U.S., by contrast, has long depended on a highly progressive income tax that is complex and wasteful and produces relatively little revenue. The American tax system is increasingly an adjunct of borrowed-benefits policy—a means of distributing benefits rather than a means of paying for them. The conversion of the IRS to a social welfare agency would continue apace under the Biden plans with their profusion of targeted tax credits for families and green energy.America’s Welfare State Is on Borrowed Time, WSJ 5-5-21
Current policy seeks to:
- Greatly expand government provided benefits and to forgive individually incurred financial obligations
- Make these benefits ongoing and essentially permanent with growing liabilities
- Have these benefits appear to be paid for by 2% of citizens
- Underfund the promises, create a greater entitlement mentality, create greater debt and pass the burden to future generations which will be forced to raise taxes on all citizens, deal with hyperinflation, attempt to trim the benefits or a combination of all three
Actually both major parties create greater entitlements. The Democrats create them for the common person, while Republicans create entitlements for the business person & military. One party borrows from future taxes, while the other hopes for future taxes. No real difference between the parties other than one is in power and the other is trying to get in power.
That’s the fundamental difference between Republicans and Democrats: how help is defined.
Simple…Defund the democrats.
Mik – You are only 50% there, defund the Ripoffagains and the Dummycrats.
Is a third political party a better solution ?
All Political Parties need to be abolished. As long as there is billions of dollars in campaign money every election, things will only get worse. We now live in a country Of, By and For the Political Elite, Corporations, and Special Interest Groups. Just remember this – The goal of socialism is communism. Vladimir Lenin
The Socialist in Public Education and teaching on our College campuses have and are indoctrinating students, convincing them that Socialism is far superior to Capitalism. But most of us, over 60 who have not been brainwashed, know the history of Socialism / Communism. Millions dead and poverty for the masses. GOD help us, it may be our only chance, but I fear we are too far gone and the end of this age and the return of Jesus Christ is close at hand.