There are several economist that have a different take on the the Starve the Beast plan and there seems to be some validity in their point. They say that it doesn't work because the negative feedback loop of high deficits isn't working. Cutting revenues isn't working, it is only leading to greater deficits. So what to do to fix the mess? You allow taxes to rise and allow people to suffer the full weight of this bloated pig.
I believe in austerity to prosperity as a reason to shrink the government, but who is willingly going to give up the goodies the politicians have been passing out for years. Especially true, if there is zero pain involved to running up a huge National Debt. If you have a brain in your head, you know that you can't keep running up debt and not expect the economy to collapse. So, you need fix the mess before that happens and starving the beast isn't working, so why not let Obama raise taxes and force the pain on the people that elected him.
Let's bring on the pain, lets raise the rates on everyone because we all know that just raising the rates on the top 2% isn't going to get the job done. You need to go all in and add 3-5% for everyone and see what happens. If that doesn't make them squeal then how about 5% more. This sounds insane because it is because the much simpler solution is to cut spending, but that is never going to happen, so raise taxes through the roof.
I know this goes against my grain, but I am all in on higher and higher taxes to pay for the cost of this bloated beast. It will cause the whole thing to pop like a pork filled balloon. It will get people's attention when they are struggling more and more to keep up with Congress' spending. The rich will survive, but it will be the middle class that will feel the real burden and the poor will be completely screwed. ELECTIONS HAVE CONSEQUENCES!!!
You voted this maniac back into office, so America stand the hell by. I say tax and spend your way to prosperity because the rich will pay the way. Just remember that the rich will soon be anyone making over $50K a year, so enjoy the crap sandwich your vote has brought on this country.
Here is another thought, it is going to be a race between high taxes and huge deficits to see which one implodes the economy first. It is doom time and if you want to survive then I recommend that you payoff all your debt and if you can move to Central America, at least their you can live like a king on what will be left of your precious 401K and since they have already done the banana republic thing your saving should be safe.
The American Dream is on the ropes and Congress is going to raise taxes, so for the first time in my life I say raise the roof and let the pain come. The idiots that elected all those spendthrift Congressmen and this socialist president need to feel Russian level of pain to pull their collective heads out of their butts. Pain is a great teacher and school's in for America.
We survived the Great Depression, which will be seen as a cake walk after the next few years. The rich will live comfortably with higher taxes because they have options for hiding the money, but if you are living paycheck to paycheck or government check to government check then live is going to be very very unpleasant. As money is sucked away to pay more taxes at every level, prices rise, and people can't afford gas and food.
It is going to be ugly until we wake up to the fact that if you are able bodied you need to work and pay your own way. Socialism does not work and continues to fail the world around, but it is so seductive with its maximum for minimal work. I am hoping the strong American tradition of hard work makes a comeback and that people get really pissed off that they have to work to support those sucking the government tit and living better than they do. There will come a time when life is so miserable that the people will finally wake up and through off the shackles of socialism and restore this country. I only hope I live long enough to see it happen.