Friday, November 30, 2012

We need to pay more in taxes

Like most of us, I am not eager to pay more in taxes.  However, we do have obligations to ourselves, to fellow Americans and to future Americans.  Most of these obligations cost money.  Yes, we can - and must - spend our money more wisely.  We don't need to spend as much on defense, for example; despite having a minuscule army in 1941, we did win the second world war.  If our leaders read the GAO reports (produced by our government), they could save billions and get better results.  If we had real leaders concerned with the future of this country, we would be investing our money in worthwhile projects, not spending it to win votes.

I find it ironic that today so many want to cut taxes when they are much lower than they were only 30 years ago, as shown in this chart from the NY Times.




Today, there is a clamor that high taxes inhibit 'job creators'. Taxes in the 20th century did not inhibit this country's fantastic economic growth. Most entrepreneurs don't even think that much about taxes until they start making money; their primary goal is to build a business.

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