Re: The future determines the past
Each year, as I transmit various information to my tax clients, I have a section that I call the soap box. A portion of this year's version:
Politicians seem to love to kiss babies, smile a lot, and promise tax cuts. The tax cuts prove to be an illusion. Since 1969 federal receipts have increased from $187.9 Billion to $1.77 Trillion for 1998. The IRS is a bit slow in figuring it all out and 1998 is the last year for which we have complete information. We can only give thanks that all other costs we incur have not increased by the same factor of 9.4 or we would be paying about $3 a gallon for gas, and about double for most other expenses in our lives.
Sadly, it is even worse. During the same period of time, our national debt, as compiled by the Bureau of Public Debt, increased from $368 Billion to $5.53 Trillion.
The results of the past three decades of our government's actions have shown a total lack of responsibility to fiscal responsibility. This irresponsibility has been non-partisan in nature. I profess to being somewhat cynical that this lack of fiscal responsibility is going to change. I suppose we can only hope, but I don't see these changes occurring in the near future. As I view it, the soap opera continues. |
