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| Source:Brookings Institution- fellow Ron Haskins. |
"The federal budget crisis is a key issue in the upcoming presidential election, with both parties unable to compromise thus far on government spending and tax reform. Ron Haskins and Campaign 2012 Project Director Benjamin Wittes discuss what the next president must do to address the nation's budget crisis during his term."
From the Brookings Institution
I agree with Ron Haskins about the problem, as well as the size of the problem that the U.S. Government has and will have fiscally now and going forward. But I believe the Federal Government has simply taken on too much responsibility and doing things that it simply shouldn't be doing and not just as it relates to social policy and defense. And the revenue problem has to do with tax policy and the tax code which has things like corporate welfare in it and other wasteful tax loopholes. As well as too many people in poverty in America and an unemployment rate at around 8% doesn't help either.
I agree with Ron Haskins about the problem, as well as the size of the problem that the U.S. Government has and will have fiscally now and going forward. But I believe the Federal Government has simply taken on too much responsibility and doing things that it simply shouldn't be doing and not just as it relates to social policy and defense. And the revenue problem has to do with tax policy and the tax code which has things like corporate welfare in it and other wasteful tax loopholes. As well as too many people in poverty in America and an unemployment rate at around 8% doesn't help either.
So for America to get it's fiscal house in order:
the states need to take on more responsibility as it relates to social welfare and I even believe Social Security, Medicare, and Medicaid. And everyone whose on public assistance, should be working and going to school and get the childcare that they need while they're doing those things.
The rest of the developed world needs to defend itself, instead of relying on America taxpayers to finance their national defense.
And we need a tax code that encourages success and growth, that eliminates most of the loopholes on everyone, with low rates for everyone based on ability to pay taxes.
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