<<Of course, we could suspend the tax cut and that would solve the problem.>>
It would not. It would have the opposite effect, exponentially. I don't mind repeating this because the demagogues on the left get far too much coverage: You CANNOT pay for Social Security by retiring dollars and creating deflation. You CANNOT borrow out of it without creating national ruin. There is only one hope: GROWTH. And there is only one route to growth REDUCTION OF MARGINAL TAX RATES AND TAXES ON CAPITAL FORMATION. That is not an "opinion", it is a law of nature, historically proven, and obfuscated by those who's only concern is a lust for political power. The American economy will live or die based on whether we learn the lesson. History is indifferent to whether we do or not. If we fail, we will ultimately be replaced by a smarter society-with much suffering and poverty in the meantime.
The steps that are essential are both opposed by power-hungry liberals and their corrupt interest groups: We must ELIMINATE taxes on capital formation (i,.e. investment activities), REDUCE the very top tax rate to less than 20%, with equivalent reductions to the other rates (or replace income taxes with consumption-based taxes), and we must begin a phase-out of the pyramid through privatization. If these steps are taken soon, leeches like you can suck our national blood and live to be 95 doing it. If not, you'll will still suck, but people 15 and 20 years younger than you will learn the lesson, the hard way. |
