J
JimG
Guest
At one point in her repartee with Colbert, Sister Campbell says, “there’s enough to go around, if we just share.”
But that’s a key point, and it’s also a point of contention. Is there really “enough to go around, if we just share?”
The U.S. Government now has to borrow 40 cents out of every dollar that it spends every day. That amounts to about $4 billion each day that it spends that it does not have in the way of income, and has to borrow.
How much sharing would it take to make the income equal the outgo? If we tax the rich at 100% of income, it would not be enough.
We have nearly reached a point in which half of us are not working, and half of us are not paying income taxes. We increasingly live in an entitlement based society. Can that be sustained indefinitely if we just share? It’s a good policy question, and one that Sister Campbell and Network need to address.
Not only does the daily outgo exceed daily income, the debts of many nations, including the U.S., continues to spiral out of control. Likely it can never be repaid. That, along with population decline resulting from more contraception and fewer babies, puts a permanent damper on the economy. We may be in for an extended period of recession or depression.
Can all of that be cured if we just share?
Maybe, but it might mean everybody sharing a much lower standard of living than they have heretofore been accustomed to. The elderly will have to accept less in the way of social security and Medicare benefits, the young will have to accept lower paying jobs, there will be less in the way of government benefits available.
If we can fix the daily deficit and the long term deficit by sharing, maybe that’s something that Network needs to explain in greater detail when it lobbies Congress.
But that’s a key point, and it’s also a point of contention. Is there really “enough to go around, if we just share?”
The U.S. Government now has to borrow 40 cents out of every dollar that it spends every day. That amounts to about $4 billion each day that it spends that it does not have in the way of income, and has to borrow.
How much sharing would it take to make the income equal the outgo? If we tax the rich at 100% of income, it would not be enough.
We have nearly reached a point in which half of us are not working, and half of us are not paying income taxes. We increasingly live in an entitlement based society. Can that be sustained indefinitely if we just share? It’s a good policy question, and one that Sister Campbell and Network need to address.
Not only does the daily outgo exceed daily income, the debts of many nations, including the U.S., continues to spiral out of control. Likely it can never be repaid. That, along with population decline resulting from more contraception and fewer babies, puts a permanent damper on the economy. We may be in for an extended period of recession or depression.
Can all of that be cured if we just share?
Maybe, but it might mean everybody sharing a much lower standard of living than they have heretofore been accustomed to. The elderly will have to accept less in the way of social security and Medicare benefits, the young will have to accept lower paying jobs, there will be less in the way of government benefits available.
If we can fix the daily deficit and the long term deficit by sharing, maybe that’s something that Network needs to explain in greater detail when it lobbies Congress.