Tuesday, April 05, 2011

Healthcare: The argument!

I have been seeing this unfold now for the past 6 months to a year. Because we have a huge budget deficit we all know we must cut spending. I have also argued here that we need to increase taxes on the wealthiest 1% of our population. Today, Republican Rep. Paul Ryan came out with his major spending cut proposal which focused on getting rid of Medicare as we know it in favor of a voucher system for the elderly to purchase health insurance. The Democrats are already out there saying the Republicans want to kill Medicare, funding for Planned Parenthood and PBS and aren't even considering taxing the wealthy or cutting subsidies for the Oil companies and Banks.

I wouldn't be surprised that a compromise might be proposed, whereby Democrats agree to some cuts in Medicare, while Republicans agree to small tax increases on the wealthy. But I am afraid that this will not be enough to close the gap in our debt. We can't use the argument that taxing the wealthiest will cost jobs as they will have less money to help grow and invest in America. They aren't really helping now nor have they through the entire time they have had the Bush tax cuts.

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Blogger Scott R said...

Afternoon Charles:

Biggest problem with raising the taxes on the rich is that we really don't, they will just pass it down to there customers, this is what I do. I would rather increase the tax base itself, right now only about 50% of people in the country pay taxes as it is, the other bis aspect that I see it that we have a spending problem, how many countries do we subsidize? well over 100. Entitlements are the other issue SS was not designed for you to collect it for decades and it has also not been adjusted for age. We have a great many more problems to deal with than just taxing the rich.

3:55 PM  
Anonymous Anonymous said...


I think you are confusing 'the rich' with businesses. "The rich" dont actually create jobs - businesses do. "The rich" wont pass increases on to customers - they dont have any.

Trickle down economics is a theory - and one that has been proven false over the last 3 decades. The rich DONT spend money to stimulate the economy - either thru spending on goods or creating jobs. They generally invest or save.

Giving tax breaks to the middle class WOULD stimulate the economy b/c they would generally spend it. Ironically, this would increase the profit at companies which would help 'the rich'.

I am ready to give TRICKLE UP economics a try!

1:45 PM  

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