Monday, December 6, 2010

Deficit Commission

According to the Our Editorial section in the Detroit News, this is what "attacking the deficit looks like:"
1.  Higher Social Security retirement age.  Now I ask you, who needs social security?  Not the very wealthy, they have managed to squirrel away a large portion of their earnings for their retirement, at any age.  No, social security is needed by those of us who are not wealthy.  Those who have, would like those of us that do not, to work longer to get what we have been paying into all of our working lives. Perhaps we will die first from the stress of worrying about how we will manage when we can no longer work.
2.  Reduce or eliminate the child care tax credit.  Who does this hurt?  Those who need to pay for child care so that they can go to work to pay for their home, their food, their utilities, oh and child care. 
3.  Reduce or eliminate the tax on mortgage interest.  So here is another tax increase that those of us in the middle, and those less fortunate, will feel far more seriously than those in the higher tax brackets.
4.  Hike the gasoline tax by 15%.  Yes we will all pay the same for gas, but those with no financial worries will still gas up for pleasure trips, most of us will gas up to go to work and then park the car in the driveway, if lucky enough to have a driveway.
So let's see, put the burden on the elderly, work longer to be able to reap your rewards; and the young who are trying to make ends meet raising a family and keeping a home.  The editorial states, "America has dug itself into a huge hole with runaway spending.  Getting out will require widespread sacrifice."  So I ask you, who's being asked to sacrifice?  Oh, and I just love this paragraph, "The problem has gone way beyond what can be solved with simple adjustments.  A serious deficit reduction plan will demand deep cuts in entitlement spending, (social security), and quite possibly some tax increase in places least likely to harm economic growth, (our mortgages).
Makes it sound so sane, but it's crazy because look who's paying?  You are crazy if you don't get this. 
Rosemary

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