Higher Taxes And Less Spending Are Necessary

0
Share
U.S. Entitlement Spending

I don’t know how we can pay any more taxes in New York. It’s becoming impossible to live. We’ll all be on welfare. Let’s tax the 47% who don’t pay any taxes.

“Unfortunately, because our leaders are still pretending that we can have it all, Americans haven’t yet clued into the fact that the only answer is BOTH higher taxesAND less spending.

In other words, kicking our debt and deficit problem is going to be painful. And everyone’s going to pay.

Mary Meeker of Kleiner Perkins recently published an excellent analysis of the financial condition of the United States. The presentation shows how big our problem is, and what we’re going to have to do to solve it.

The presentation shows that we spend a lot on Education and Defense, but that isn’t the real problem. The real problem is Social Security, Medicare, and Medicaid (especially Medicare and Medicaid).  These programs are wildly more expensive than any other budget items, and they’re also growing like weeds.

As Mary’s charts show, there’s almost no chance that we can “grow our way out of the problem.”

To fix this problem, we must cut Medicare, Medicaid, and Social Security spending(or, at the very least, cut spending growth). And, yes, we’re also going to have to whack Defense and other spending. And we’re going to have to raise taxes.” Read more here: The U.S. is screwed

Let's freak

 

Share