To Tax or not to Tax

The Bush Era tax cuts were supposed to stimulate the economy and spread the wealth. They succeeded in the former and failed in the latter. Even their success as economic stimulus comes into question. The boom earlier in the decade had more to do with the illusion property values would rise forever and the creation of esoteric financial instruments that hid the rot in the system until the structure collapsed than with real economic growth. The very wealthy did get wealthier. The rest of us got poorer, many got much, much poorer.

While our nation's wealth migrated to huge corporations and the super-rich who controlled them, the government amassed enormous budget deficits. Government expenditures, including two very costly wars, were made with borrowed money. The results weakened the core of the nation's financial structure and could not continue.

Proclaiming the Republicans or the Democrats caused the deficits does not fix the problem. Cutting taxes will not fix the problem. Maintaining current spending levels will not fix the problem.

None of the solutions are palatable. Postponing action will only worsen the problem. Letting the tax cuts' sunset provisions take effect is only a start.

Our nation needs policies that nurture American self-sufficiency instead of stifling it. It cannot sustain a system in which it imports far more goods that it exports. While this works very well for corporations that continue to off-shore production and jobs, it is disastrous for the country. It makes it less diversified, increases its indebtedness, increases unemployment, robs it of the fruits of its innovations and drastically lowers its standard of living and economic security.

Our nation needs to build on the strengths of its citizens, not pander to their weaknesses; leave the era of factionalism and recommit to working together to forge a stronger, better integrated society. If sacrifice is asked of us, there must be corresponding benefits and the sacrifice must be evenly spread across all economic levels.