Thursday, September 23, 2010
Sunday, September 19, 2010
Saturday, September 18, 2010
Raise my taxes please
Two things you can't escape from in life: tax and death. The United States government is so much in debt. It's time to raise taxes and plug the budget hole. Many articles have been written about whether or not the Government should let the Bush era tax cuts to expire. Some argue that we shouldn't raise tax this year because the economy is still in a fragile state.
While I agree that letting the tax cuts to expire can have a negative impact on the recovery, but I feel that solving the national debt problem is far more important than betting on tax cuts to save the economy. The US has been borrowing so much from other countries. If we don't solve the national debt problem soon, our lenders may demand for higher interest returns or stop lending us more money. When that day comes, even if the economy is on its recovery path, we would be forced into another financial crisis.
Paul Krugman has a lot of good writings on the subject. I think it's time for people to face the hard reality -- an increase of taxes is essential to save this country.
While I agree that letting the tax cuts to expire can have a negative impact on the recovery, but I feel that solving the national debt problem is far more important than betting on tax cuts to save the economy. The US has been borrowing so much from other countries. If we don't solve the national debt problem soon, our lenders may demand for higher interest returns or stop lending us more money. When that day comes, even if the economy is on its recovery path, we would be forced into another financial crisis.
Paul Krugman has a lot of good writings on the subject. I think it's time for people to face the hard reality -- an increase of taxes is essential to save this country.
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