We keep hearing that the fiscal cliff is coming, and if we don’t do something now, we will go into another recession.
Republicans are being pressured to give in to tax rate increases, yet the Democrats are not willing to tackle entitlement and spending problems.
If we let the rates increase, the government would get about $82.4 billion per year more from taxpayers, which would fund the government for about eight and a half days. The spending will not stop, the debt will continue to increase, borrowing and printing money will continue.
The $82.4 billion per year is significant in the private sector, but is a drop in the bucket for our bloated government, considering its spending habits.
Our government will not allow the producers to produce, and will not stop the spenders from spending. This is just a smokescreen for our real problem -- spending.
- Eric Hoogeveen, Munster