Thinking Out Loud: Tax Cuts, Unemployemnt Vs Fiscal Responsibility

Repeal the tax cuts for the rich, they decry. It will cost us billions in lost tax revenue, they scream with righteous indignation. But give the unemployed money without saying how we'll pay for it, they plead.

First, to repeal the tax cuts, for anybody, is called a tax hike. That's right. Raising taxes. In a down economy. This is just a ridiculous idea. And the thought that rich can afford a tax hike in a down economy yet still create jobs is so much more than ridiculous. Let us put this n a way that non-rich people can understand.

Here is your paycheck. But wait, we are going to take more money out of your paycheck so you will be getting less. Okay. Oh, and by the way, bread is now going to cost you more. So is medicine for your kids. And we're going to hike your electric, gas, water, sewer and school bills.

No, you may scream. I can't live like this. You can't take money from me yet expect me to pay more for . . . hmmmmm, makes you think, yes?

But let's say we are going to tell you that each year your paycheck is going to be different. Less, yes. But different every year. Now you can't even plan on vacations or sending the kids to college or buying a new car even though the one you have is falling apart.

This is how business views the ever changing idea of taxes and other legislation. They think years down the line. But with uncertainty of how their business will be affected by legislation (like the healthcare law, which has already seen companies like AT&T taking billion dollar hits), uncertainty of what their tax bill will be next year (let alone several years down the road, when they will need to rebuild or expand or replace equipment), and uncertainty on import/export costs, union issues and competition, it makes it hard for them to even think about hiring again.

Instead of thinking of the continuation of the current tax structure as a loss of incoming tax revenue for the government, the government needs to figure how to do with less. We have to in our everyday lives in this economy, why not them? Why do they insist on paying for turtle crossing in Florida and upgrading airports that no one uses in Pennsylvania, when they can't figure how to pay their own employees? And on that note, the government needs to stop expanding the government employee base and start trimming. Oh and don't get me started on how most of the new jobs they have added are in the six figure range.

If we have to think about the financial aspects of things like getting married, expanding a family or buying a bigger house in these hard times, the government should be no less responsible and stop twittering away our money on useless and overblown expansion of their own.

As for extending unemployment benefits I am of a conflicted mind. On one hand I can certainly feel for people who have been out of work with no prospect of work. I think we need to make sure that they are protected financially. And yet, we need to know how this is going to be paid for. Not by borrowing more from the Chinese or someone else. Nor should we just keep printing money, thereby devaluing the dollar even more. On the other hand, I have been witness in my life to many who not only abuse such assistance but who have fallen generationally into addiction to such assistance. Welfare was a way of life for many in my native Philadelphia.

But the biggest problem all around is a lack of work available. In order to get the jobs going, we need to do two really big things. One is to stabilize the economic situation. Stop the rhetoric of squabbling between political ideologies and stop the negative impression of those who have the capability to create jobs. In other words, stop bickering in Washington (which the November elections should have sent the message to those inside the Beltway) and stop making the rich, big companies and CEOs in specific the target of liberal and Democratic nonsense.

The second thing we need to do is stop making people believe that government is in the business of creating jobs. Government is not supposed to create jobs, they are supposed to create the atmosphere for job creation. It is business, big and small, which create jobs. Government should stop growing these none productive government jobs and tighten their fiscal belt. At the same time, they should create the stable atmosphere for companies to begin seeing a clearer horizon which will get America working again.

You can agree or disagree, it makes no difference to me personally. Just so long as I get you thinking for yourself and ignore the rhetoric by those who are only interested in getting themselves re-elected or only interested in outside interest like unions or other special interest groups. But hey, this is just me, Thinking Out Loud.

Have a great day.

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