Revenue needs to be raised

Posted: Aug. 11, 2011 9:00 am Updated: Oct. 15, 2014 10:15 am


To The Herald-Whig:

People are asking: "What has happened to President Franklin Roosevelt's New Deal?" This program was of considerable help to the folks during the Great Depression, but it was the military spending for World War II which brought back the jobs and prosperity.

Today, the war is between our two polarized political parties. The tea party's and Grand Old Party's theme is "no new taxes" for the wealthy. The Dems have a more reasonable plan. So our nation finds itself in a sea of debt, $14 trillion compared to FDR's $40 billion in 1939.

Who do we go to for some sense and a healthy dose of reality? To the multimillion-dollar talk celebrities who want President Obama's policies to fail, or to the king of "no new taxes," Grover Norquist, or to partisan leaders of both houses, or the wisdom of the authorities?

I go to the five Davids: David Walker, former U.S. comptroller; David Cay Johnston, author of "Free Lunch," who exposes how wealthy Americans enrich themselves at the government's expense; David Wessell, Wall Street Journal; David Stockman, former budget director under President Reagan; and financial guru David Ramsey.

Along with Alice Rivlin, for the most part they agree that revenue needs to be raised. According to Stockman, taxes have been much to low since President "W" Bush's tax cuts. And along with President Dwight Eisenhower of the 1950s, he warns against out military industrial complex. The crisis Stockman says is not the debt ceiling but the $14 trillion debt which both political parties helped to create.

President Reagan came into office with a weak economy. He didn't place the blame but immediately raised taxes in 1982. President Obama who has the best plan -- spending cuts and revenue increases -- can't put his plan on the table because the opposition has been programmed to defeat his policies. In addition, it was reported that salaries of the workforce are in decline, while large corporations and top execs are in the money.

In the spirit of responsibility and patriotism, we know what needs to be done. The financial elitists who pay lobbyists to keep their taxes low and loopholes open must pay the piper. This is a national disgrace. The world is watching out of control capitalism.


Catherine Bridgman

Palmyra, Mo.


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