Quote:
Originally posted by Sidd Finch
A whole lot of people, the vast majority of whom vote, make over $250k/year. And a whole lot of them -- us -- recognize that as nice as it is to have that extra 20 grand or whatever in your pocket, the ballooning deficit is not worth the tradeoff.
That's particularly so for those who are post-Boomer. The deficits today are dramatically more threatening than those the last Repub administrations ran up, because we are much closer to the Boomer retirement that will strain our system so severely. Social Security can be tweaked in several ways to ease this problem a little bit, but that's only at the margins. Unless we deal with our budget, we face devastating consequences in the not-too-distant future.
The fed government has never effectively dealt with deficits without raising taxes. Yes, spending can be cut, but the political will to do it enough is lacking and we have cut domestic spending so drastically in so many areas that this too jeopardizes our future. Even Reagan recognized the need to raise taxes to reduce deficits. Even Bush I recognized that, and went back on his infamous "read my lips" pledge. Neither of them did it enough, and Clinton had to do it seriously to cure the deficits he inherited.
So, yeah, I expect my taxes to be raised, and it's a worthwhile tradeoff even without looking at the other issues that motivate me in this election (like the Iraq war, and the loss of world sympathy and respect, and not having John Ashcroft tell me what I can read and look at).
Meanwhile, I'm hoping to pay off my mortgage before the Boomers retired because I think that deduction may be history when the consequences of the Bush borrow-and-spend spree are realized.
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You're right as it gets on this one. Most people I discuss this with fall into two categories:
Yours (and mine) - The money up front ain't enough to offset what I know I'm going to pay later.
Theirs - I don't trast the govt to ever give me shit. I'd rather have the money in hand and take the chance on the future being brighter, or, I'll use the money now to make myself more money which will offset the tax increase later (stupid for a variety of reasons).
Although it may hurt me a bit now, I think having Kerry win will be good because gridlock in DC is always preferable. Also, the notion "pigs get slaughtered" is not limited to the market. Bush and the limited sector which benefits most from his policies have made pigs of themselves, and the backlash will be severe. If Kerry gets eleceted, the gridlock will lead to a populist government, whereas another 4 years of bush will galvanize the left Democrats, and when they get control again, as they will someday, it will be a liberal takeover, a return to the New Deal. It will kill all of us just when we need the money most (I might have akid by 2008). I'm surprised Bush never learned, despite his patrician roots, the first rule of old money - never do anything to draw attention to what you have. That includes not making a pig of yourself. That's new money's job, and they always get commupence for it. You should take what you need to live nice and fat, but be reasonable. Leave something so the masses don't storm the Bastille. But these dumbasses don't care about that. They just want to gobble until someone says stop, and while they shelter their massive boatloads of dough, us poor $200k "rich" fucks will take the beating from wealth redistribution whores in the "entitlement" crowd. Thanks George. Thanks.
