Government spending
is increasing at an alarmingly
quick rate.
This is especially true when
it comes to entitlement programs.
In fact, entitlement spending
will consume all tax revenue
by 2052.
But Congress
is already spending
at a breakneck pace
accumulating unprecedented debt.
Sen. George LeMieux noticed
this and had a very interesting
observation when he tweeted :
Today the debt hit 13 trillion.
The debt increased
a trillion in less than a year.
It took 191 years
to amass the first trillion in debt.
This is very troubling
because we are only going
to get more marred in debt
unless something is done
to reform spending.
Since Alexander Hamilton
assumed all the war debts from
the original 13 colonies, America
has always been in debt.
Only Andrew Jackson
has been able to make us
debt free, but in 25 years,
unless we reform entitlement
spending, debt will consume
more than 180 percent
of the economy.
Heritage has put together
a Federal Budget Chart Book
that graphically illustrates
our growing problem.
Something needs to be done about
spending before our debt consumes us
http://blog.heritage.org/2010/05/28/tweet-of-the-week-debt-raises-by-a-trillion-dollars/
The Spend, Tax, Debt & Waste
Laden Agenda's of the Global
Commie Unionist Corporate
Criminal Regimes Are Like
A Ruptured Oil Well That Has
Been Uncapped For Far Too Long ;
Secretary of State
Hillary Clinton is concerning
herself with. America's taxes?
That's right.
Diplomat-in-Chief
Clinton has said that
the U.S. tax rate isn't
high enough and that we should
strive to become more like Brazil :
"The rich
are not paying
their fair share in any nation
that is facing the kind of employment
issues (the United States is), whether
it's individual, corporate, whatever
the taxation forms are."
According to Heritage's
Index of Economic Freedom,
Brazil's economy is ranked 113th
in the world, among "mostly unfree"
nations.
It charts below
regional and world
averages, and its GDP
is one-tenth the size of
the United States.'
But Our revenue raised
is effectively capped, the
ratio of taxes to GDP can't
rise much unless the GDP itself
begins to contract - or government
generates revenue through new sources,
such as the value added tax.
Is Secretary Clinton finally
pushing the Administration
out of the closet on levying
a massive new VAT tax?
It's not the first time
a member of the Obama
Administration has weighed
in on taxes.
In April, Vice President
Joe Biden said the U.S. tax
system is unfair because, in
his view, the wealthy don't
pay enough, despite the fact
that the top one percent of
income earners pay more
than 40 percent of all
income taxes.
However, for Secretary Clinton,
whose job description revolves
around foreign affairs, tax policy
is something of a departure.
As Secretary Clinton
remarked, we are living
in an increasingly complicated
world, which makes the job of
diplomacy - as she sees it -
harder than ever.
Maybe this is a good reason
for her to stick to her day job,
America's diplomat in chief.
Furthermore,
wasn't it Hillary Clinton's husband
who once as president admitted to
a group of business executives that
he had raised their tax rates too much?
Higher taxes kill the economy.
It is the last thing
the United States need right now"
http://blog.heritage.org/2010/05/28/sec-clinton-our-taxes-aren%e2%80%99t-high-enough/