Steven
Christopher
Critique of
Nicholas Roch
After reading Nicholas Roch’s blog I
can agree that the American economy is spiraling downward as we continue to
increase the federal deficit and accumulate additional national debt. It is
scary to see that the current national debt is in the trillions. An interesting
fact that Nick pointed out is that each citizen’s share of the debt is 51,693.
I cannot believe that we would let such a huge deficit gather like that. It
would take families tens of years to pay off a debt like that, if each person
contributed the same amount. I believe that in order to make this fair, people
should not have to, “share” the same amount of debt. Taxes need to be regulated
accordingly so that poor people do not have to pay so much of the debt, and
that the rich participate more. Nick also states that the average American
salary is 42,979.61 as of 2011 according to the Social Security Administration.
There is no way that the average American can pay off this kind of debt in their
life time
Republicans and Democrats each have separate ideas on how to
handle the debt crisis, which has created a standstill in congress. The
republicans believe in less government interference in the private sector and
lower taxes, which I personally believe will not work. I think that we need
high taxes in order for us to pay off the debt. This might create a hard burden
on United States citizens, but this is a high priority of the USA. We need to
make the deficit lower no matter what it takes. President Obama doesn’t want to
extend the Bush tax cuts that make over 250,000 dollars and I think that is the
right decision. I believe that the thought of the tax cuts being diminished should
not put the Republican Party into frenzy. All parties should be happy that this
potential tax increase in specific income targeted areas could help us reduce
our deficit a little faster.
I don’t think that with this point
of view the Republicans can say that they care about the middle class. We need
to increase taxes on the rich and put the money back into the middle class in
order to generate jobs and growth. I do agree with Nicks statement that it is
time for both parties to return to a bill similar to that of the Simpson-Bowles
Act in which Congress would cut $10 of government expenditures for every $1
dollar in tax revenue raised. It is worth temporarily delaying an economic recovery
to ensure that we have a firm financial foundation for the future, particularly
the middle class.
No comments:
Post a Comment