Politics
Out of context: Reply #16294
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Just for BonSeff:
http://www.votervoice.net/core.a…
I am writing to strongly urge Congress, and specifically those members on the Joint Select Committee on Deficit Reduction to act expeditiously to rein in spending, reduce the deficit, and stabilize and ultimately lower America's level of debt. While enhancing economic and job growth is a prerequisite for achieving these goals, growth alone will not be enough. Congress must reform entitlement programs and fundamentally restructure the U.S. tax code to bring revenue and spending back into alignment.
While the Budget Control Act of 2011 was a step in the right direction, it would fall far short of fixing the deficit and debt problem America currently faces; it would not stabilize the debt to GDP ratio or put this ratio on a downward trajectory; and it would fall far short of achieving a balanced budget. It alone would likely not prevent future downgrades to the debt rating of the United States. Even with successful implementation, the amount of publicly held debt outstanding by the United States would rise to $16 trillion at the end of 10 years.
I urge both members of the Joint Select Committee and Congress to make every effort to fundamentally address these issues by engaging in a true reform of entitlement programs and a complete restructuring of the U.S. tax code.
Entitlement spending is out of control, on autopilot, and leading America toward fiscal disaster. Congress cannot fix the root cause of the problem without addressing the entitlement programs of Medicare, Medicaid, and Social Security.
America's demographics are overtaking these programs' financing mechanisms; taken together entitlements are the source of the rising debt. The retirement of the baby boomer will see 10,000 individuals reaching retirement age each day for the next 19 years. In order to preserve entitlements for future generations, Congress must bend the curve downward through sensible reform. Containing entitlement costs is key to long-term fiscal sustainability of the nation.
In addition, Congress should restructure the tax code to improve efficiency, transparency, and simplicity to drive economic growth and job creation. The current code needs a comprehensive reform to lower overall marginal tax rates, to encourage saving and investment, to foster global competitiveness, increase capital accumulation, attract foreign investment, and drive job creation. Further, changes to the tax code should not single out specific industries or individuals for punishment, and should allow the marketplace, and not the tax system, to allocate resources. Finally, comprehensive tax reform should include realistic transition rules to provide adequate time for implementation and help minimize economic dislocations individuals and businesses may encounter in transitioning to the new tax system.
Congress has an opportunity to put the country on the right fiscal road - a road to balance and sustainability, and I urge you to seize this chance.
- Notice how if you post a different view then the majority here they attack you?********
- Thats what the media has trained them to do. Its pretty amazing. Just like germany.********
- Calm down Glenn.DrBombay
- pffft ... Viking comedy is def your strong suit..Ramanisky2
- yep Viking, it's amazing. Meaning, they aren't using their brains.********
- Notice how if you post a different view then the majority here they attack you?