Two months ago, on a late-night talk show, an economist said if it wasn’t for the Bush tax cuts, the wars in Iraq and Afghanistan and the Obama bailouts and stimulus program, we would have a balanced budget today and a much smaller federal debt.
The way I see it, Republicans and Democrats spend and spend on various programs to try to get voters to re-elect them — then borrow and borrow to pay for those programs.
I think we should have a third party — an independent, moderate party not dependent on the Republican or Democratic parties’ money to get elected.
That independent party’s platform should include the following:
(1) End tax cuts for everyone earning more than $1 million for the first two years, and for anyone earning more than $100,000 after that.
(2) Enact a federal sales tax to pay for veterans programs, and in 2018 begin using money from that tax to also help pay military and war costs. Use the federal income tax savings resulting from the sales tax to pay down the federal debt.
(3) Stop new spending. America’s children have benefited from many of the giveaways during the past 12 years; over the next 20, 30, 40 or 50 years, they’ll be faced with paying for all of the borrowing that has occurred.