As Einstein stated, "Insanity: doing the same thing over and over again and expecting different results." Our current budget deficits malaise continues with similar types of solutions:
1) Philadelphia Mayor Michael Nutter is proposing a tax on soda and other sugary drinks as he and City Council continue trying to help bail out the cash-starved Philadelphia school district. (source:http://philadelphia.cbslocal.com/2011/06/02/philadelphia-residents-split-on-issue-of-soda-tax/)
2) O’Hare May Get Slot Machines as Illinois Lawmakers Allows Chicago Gambling (source:http://www.bloomberg.com/news/2011-06-01/o-hare-may-get-slot-machines-as-illinois-lawmakers-allows-chicago-gambling.html)
3) Obama administration floats draft plan to tax cars by the mile (source:http://thehill.com/blogs/floor-action/house/159397-obama-floats-plan-to-tax-cars-by-the-mile)
The process of raising new tax revenue will not end well. We will see increased taxation on any item that is consumed. In addition we will legalize practices that have been scorned in the past just to tax other sources of revenue.
Our deficit problems are not a revenue issue. Find the individuals or corporations that are not paying their required taxes and deal with them. Attempting to raise revenue by creating new taxes is the wrong direction. CUT GOVERNMENT COSTS. Adopt lean infrastructures. Make all government employees subject to the same health care, pension and benefits that the taxpayer has. Eliminate the special treatment for elected congressional leaders.
Copyright 2011 - Jim Lindell