Fiscal Catastrophe: When It Hits, It Will Be the People’s Fault

“Deficits are exploding – and neither party seems to care” [Fox News headline] …No kidding. Deficits are a symptom — of rotten ideas.

One rotten idea is that government’s job is to redistribute wealth, on the premise that we are all each other’s keepers. That’s not the purpose of a free country. That’s the purpose of a Communist or fascist country. In a free country, nobody has a right to force you to work 10, 50 or 90 percent of the time for another. You’re only responsible for yourself. In a free country, charity is 100 percent voluntary. The moment you stray off that course, you’re on the way to all-out socialism or Communism. We’re heading in that direction now!

Another rotten, stupid idea is that we’re entitled because we pay taxes. Many of us do pay taxes; quite a lot, in fact. However, half of Americans don’t even pay income taxes. The younger generation demanding socialism (not all of them, but most of them) are paying fewer taxes than anyone else, and yet they want the moon and then some for free. And Social Security and Medicare pay out way, way more than anyone ever “puts in” via payroll taxes. It’s stupid to claim you’re entitled to (1) money you never paid or (2) way more money than you ever paid, or COULD pay even with 100 percent tax rates. Entitlement is B.S., at least past a certain point.

The biggest problem in America, politically, is SPENDING. Government spends way, way more than it can ever provide. Even with the Biden 70 percent tax rate, or the Ocasio-Cortez 90 percent tax rate, we will continue to spiral out of control fiscally on our current course. And, of course, those tax rates would destroy the economy and prosperity we currently have.

Nobody is facing any of this. Nobody is talking about it. Perhaps President Trump will someday. I don’t know. Even if he does, he can’t stop it, because only Congress can stop it. But Congress will not stop it. It didn’t stop when under Republican control and it certainly will not under Democratic control.

At some point, the problem is US. We, the people. Until or unless we adopt a policy of tough love toward ourselves and each other — and not ONLY anger at politicians — we are never going to solve this problem.

And it is a problem. Government cannot spend indefinitely into infinity. And not talking about it won’t make the gathering storm of fiscal catastrophe go away.


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