To Reduce The Longterm Debt We Must Increase the Tax on Gasoline

16630983-mmmain

 

The last I heard our national debt was between $18 Trillion – $20 Trillion. It is time to start doing something responsible to pay down this debt for the longterm stability of the Country.

This view of mine might seem in complete contrast to my last post about the economy being in horrible shape and tens of millions of people suffering. Read on.

I read this morning on Reuters that gas prices could be heading towards $1.00 per gallon. This is insanely inexpensive and was never planned. My proposal is to raise the gasoline tax by 25 to 50 cents per gallon. I am not an economist, and would ask one to say what the best amount is.

This extra money needs to go directly to the longterm national debt to pay it down. Our country cannot go on spending money it doesn’t have without eventually paying a price. With the surprising windfall of gas prices plummeting we must take advantage of that. You don’t have to be a member of the tea party to realize the debt must be dealt with.

The reason this added tax is consistent with my beliefs is that this is a windfall no one was expecting. The amount of debt we could pay down could be significant as long as oil prices stay low.

I also feel very strongly that a tax credit should be given to individuals and families who are earning a certain amount. If you are a family of 4 living on $30,000 you should not have to pay the gas tax. Everyone always forgets about the single people; if you are single and earning $35,000 you too should be exempt from the tax.

Also, an extremely important point is where in the United States you live. Thirty-five thousand dollars a year goes much further in some places than others. Location must be included in this.

No one predicted oil and gas prices would plunge like they did. So, let’s take advantage of that and help the country’s longterm debt. I would be open to listening to any economist who can say the best amount to raise the taxes and the best amount of income to exclude people from paying the extra tax.

It’s time this country came together to do what is the best for all. No partisanship, just the best ideas to make life better for everyone.

As most people know, the interest on our debt is becoming a huge portion of our budget. If we can lessen this there will be more money left for essential things like job creation, infrastructure, education, budget solvency.

It’s time to act. Now.

Advertisements

Why Can’t People Be Told The Truth #Economy

Gold-Rolex

It really blows my mind that people don’t want to be educated, don’t want to know all the facts, don’t want to do their own research.

No, I am not talking about the fact denying GOP who think climate change is a hoax, gay marriage is the coming of the rapture or that giving young people sexual education will greatly reduce the number of abortions.

I am talking about the ‘Happy Dance’ Democrats who want to read nothing but the headlines about jobs and the economy in the United States today. Todays job report sounded very good for those of you who only read the headlines. Hiring is up, the last few months hiring has been increased.

Everyone applauds President Obama. The President himself does victory laps. Hillary Clinton tries to ride the coattails of the so-called success. Doing this will lose Sec Clinton the presidency in 2016.

What most are unwilling or uninterested in doing is reading the entire article, not just the headline. According to the Wall Street Journal, todays jobs report imposes a huge amount of pressure on the Fed. Jobs are up; half the jobs created are temporary positions. The rest are in service industries that pay very low wages and no benefits.

Wages went down again this month, making it harder or nearly impossible for a family to make ends meet. Temporary positions, when finished, will lead to many more unemployed people. Part time jobs, a sizable chunk of the jobs that have been created, aren’t enough for a family to live on.

Our economy and GDP have been growing in the 2% range, the lowest in the last 50 years.

The economy is not working for the majority of Americans.

We need an incredibly strong jobs creation program enacted so people can get back into the job market and earn their own way in the world. No, we haven’t done this. The GOP has blocked every attempt of Obama’s to bring this kind of salvage to the American people. Unfortunately Mr. Obama gave up too soon. His last attempt for a substantial jobs package was in 2011.

It’s time to face the music and fix the problems. We need new jobs so that 30 million people can come back to work. The workforce participation is at its lowest in 40 years.

We can fix this.

A dire warning to any and all Democrats: If you keep praising the accomplishments and achievements of the economy you will lose. The public will vote for something new, as in a Republican in the White House.  It’s not too late to fix this for a victory in the fall.

More importantly, it’s time that the tens of millions of unaccounted for unemployed people get their chance to go back to work.