The greater the American liberty, the lower the taxes, the smaller the government spending, the better we obey our Constitution, the stronger our economy will become.
- Spending
Government spending is out of control. Federal revenues went up 46% from 2004-2008. Did wages go up that much in the same period of time? Yet, with that massive increase in revenues, spending has gone up even more. Congress, which is responsible for all budgets, is spending at a faster pace than all the money they are taking from the American people. Congress is running huge deficits each year. This causes the money in our pockets to be worth less and less.
Spending levels for every department should be frozen immediately. Our federal government's budget should be much smaller. We need to end corporate welfare. We need to end federal subsidies. Entire departments can and should be eliminated.
Congress must cut spending and start paying off the national debt for the well being of our children.
- Debt
| The Gross National Debt: |
Today, many politicians with help from lobbyists are spending America into ruin. The national debt is now over eleven trillion dollars. We are now the biggest debtor nation in the world. Our mounting government debt endangers the financial future of our children and grandchildren. If our elected leaders do not cut spending now, higher taxes, a devalued dollar and economic disaster will be our future. Our federal debt was less than a trillion dollars when Ronald Reagan was elected in 1980. It is now 11 times what it was then. Entitlement obligations are an additional 60 trillion dollars and growing. Congress added 4.6 trillion in entitlement obligations in the 2008 fiscal year alone.
In addition, the Federal Reserve, the central bank, fosters runaway debt by increasing the money supply -- making each dollar in our pockets worth less. The Federal Reserve is a private bank run by unelected officials who are not required to be open or accountable to "we the people."
Our economy and our independence as a nation is increasingly in the hands of foreign governments such as China and Saudi Arabia, because their central banks also finance our runaway spending.
Our current debt, including entitlement obligations, is over $175,000.00 per man, woman, child and illegal alien. It is over $420,000.00 per full time worker, and over $700,000.00 per full-time taxpaying American.
We cannot continue to allow private banks, wasteful agencies, lobbyists, corporations on welfare, and governments collecting foreign aid to dictate the size of our ballooning budget. We need a new method to prioritize our spending. It's called the Constitution of the United States.
The following links are sobering and informative videos with David M Walker, the former Comptroller General of the United States under three presidential administrations. He resigned that job to spend his full-time warning America of the train wreck that is coming if we don't cut federal spending now.
YouTube - Economic Disaster Ahead
- Bailouts
Our government should NOT be in the business of choosing winners and losers on Wall Street or anywhere else.
On September 29, 2008 Congress narrowly voted down the $700 billion bailout of Wall Street. Then on October 3, 2008 Congress passed the bailout out package saying it was for Main Street this time. The only change in the package was the Senate increased the FDIC coverage from $100,000.00 to $250,000.00 until 2013 and they added $150 billion in pork and earmarks. The bailout is and was a slap in the face to all hardworking Americans and a wink to billionaires who had already profited from past transactions.
Congress could have been doing their job in August instead of taking a month long taxpayer paid vacation of over $14,000.00 each. The economic crisis was caused by Congress and has been made worse by Congress. Congress should have come back in session and gotten to the bottom of what needed to be done to protect the American taxpayer. What they did do is to pass a bailout that punishes the taxpayers.
All those that voted for the bailout should be fired by the voters on November 2, 2010.
- Taxes
Congress should immediately raise the personal exemption from $3,400.00 to $15,000.00 immediately.
Next, Congress must balance the budget by cutting spending, not by raising taxes. Wasteful, unconstitutional, counter-productive, and ineffective spending and over-regulation must be eliminated. Half of the savings should be used to pay down the national debt. The other half should be returned to the taxpayers by reforming the tax code. The new tax rates should be 2-1/2% up to $100,000.00; 5% for income from $100,001.00 to $500,000.00; 7-1/2% for income from $500,001.00 to $1,000,000.00; and 10% for income over $1,000,000.00. The implementation of the new tax rates should be put in place in the order listed, beginning with the lowest level of income earners. This should be an interim step to eliminating the IRS.
I support less taxes. Lower taxes benefit all of us, creating jobs and allowing us to make more decisions for ourselves about our lives. I have always supported lower taxes and lower spending. It is important to note that every time taxes have been cut, like during President Kennedy's administration, revenues have actually increased.
The federal government should not tax a person that is eligible for federal aid. That only creates and funds bureaucracy.
For every dollar the federal government takes, it provides as little as 20 cents worth of services compared to what that dollar would have purchased if left with the individual to start with.
Our current tax system spends over 250 billion each year on compliance. That is a huge waste of the American taxpayers money.
The following link is a history of the income tax from when it was first put in place in 1913 until 2008.
The Tax Foundation - U.S. Federal Individual Income Tax Rates History, 1913-2008