Posted by: A. C. Cockerill | August 8, 2014

How Do We Fix This? Post #6 – 2014

How Do We Fix This?  Post #6– 2014

How do we get the country out of debt?

My two cents (but please share yours):

First, we need to know what the national debt is. The following link shows this statistic, up to the picosecond.

http://www.usdebtclock.org/

If we stimulate the small-business sector (sector creates 70% of the jobs in the U. S.) by reducing the corporate tax rate (highest in the world) and cutting thousands of regulations (massive expenses for small businesses), the sector will generate profits. The economy will grow, allowing us to grow our way out of debt. We will also need to restrain government spending, so the growth exceeds the debt plus interest.

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Responses

  1. Seriously, Ashley – run for Pres!

    • Thank you so much, CJ. I couldn’t get elected as mayor much less as president. Making speeches is not my strong suit. As I writer, I’ll have to muddle through this one day–hopefully not anytime soon. As a politician, I’d fail. Horribly. 🙂 Cheers, Ashley

  2. I wish our paid politicians were as concerned about how to fix it–and actually follow through on their campaign promises regarding the economy–as we citizens are. I will be sharing on Twitter… 🙂

    • Thank you so much, Jolyse. And you are so right. By placing politics ahead of fixing problems, the politicians are hurting this country, hurting individual citizens. Cheers, Ashley

  3. You’re suggestions are absolutely right, Ashley. Trouble is, our politicians will NEVER bite that bullet.

    Back 100 or 150 years ago when we actually had some statesmen in office, we should have required anyone who wanted to vote to produce evidence showing how much he or she paid in taxes. One vote for each $1000 in taxes paid. That would eliminate all the freeloaders electing the politicians who promised them the biggest handouts.

    • Hi David, This is one advantage of the flat tax. Every citizen would pay the same percentage of income. So, every citizen would have some “skin in the game,” an incentive to vote for politicians who’d control spending and taxes. Cheers, Ashley

      • I’d like to see half our revenue raised with a flat tax and half with a national sales tax or value-added tax. That way both productivity (income) and consumption (spending) are taxed equally.

      • I suspect a national sales tax would be better than a value-added tax, David. The value-added tax hurts manufacturing companies the most and leads to fewer jobs. Cheers, Ashley


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