I have a question on the tax debate. I'm as much for lower taxes as the next guy, but at what point does a tax break make sense? Are we talking about a true tax break, like eliminating income taxes, estate taxes and/or property taxes? or are we talking about a one or two percentage drop worth a few hundred bucks, that doesn't really impact anyone individual in any true fashion? Are we talking about programs designed to encourage specific types of behavior (such as tax breaks designed to encourage home ownership, or local enterpeneurship)?
My point is that we can't have our collective cake and eat it too. government has to exist and has to provide certain services. Regardless of your views on what government should or should not do, I'm pretty sure most would agree that the government does a decent job of maintaining roads and infrastructure through out the country. yes, I know they could be doing a lot better and that a long list of projects are in dire need of maintenance. still, by comparison to most of the world, we are doing a pretty damn good job. To do all this the government needs the money so taxes of some sort are unavoidable.
I think the real issue that most folks have is not taxes per se, but rather the degree of taxation and what that money should be used for. Personally I think that there are times that it is in the best interest of a country for its governments to become actively involved in promoting certain types of industries and behaviors at the expense of others. there are other times in which government is better off staying out or playing referee.
Personally I think that the tax cuts that we experienced during the bush years, didn't really benefit anyone. they were financed largely through borrowed money that we are now having to pay back. yes we had a great time going on an 8 year spending binge, but it was not financially sustainable. While I might not agree with the current administration's policies, one thing is true, they were handed a plate full of crap and left to fix it or get the blame. As much as we all like tax breaks, The real issue here has been first, trying to keep the economy and entire industries from collapsing, and second stabilizing the economy before we can consider reducing government's involvement in certain obvious areas. I'm a big champion of a market economy, but every now and then it needs to be tempered and redirected, and IMHO this is just one of those times.
As a disclaimer, I work in finance and I experienced a jump to a higher tax bracket under the new tax regulations. I don't like it, but I like the alternatives even less.
