With the current national debt and federal deficit situation, entitlement programs that take up most of the budget will have to be reduced. Social Security might only be made available to the poor as the safety net it was originally intended to be. Medicare would also be needs tested. The amount of money in pensions might have to be reduced.
Sen. Jake Garn once told me that the national debt is backed by pensions. So we can't declare eminent domain and cancel the national debt along with the federal deficit.
In taxation, I understand that most of the wealthy are S corporations that employ people. Raising taxes on S corporations would increase unemployment, and probably drive up inflation.
We should actually increase the amount of money for research and development efforts, which creates many private sector jobs and strengthen the economy. Government spending on research and development is part of the solution rather than part of the problem to our economic problems. Garn has stated that we get from $7 to $10 of economic benefits for every dollar spent on NASA, for example. The Space Program is a very small part — less than 1 percent of the federal budget.
With this and the economic benefits involved, it deserves to be a very low priority for government cutbacks.
J. David Baxter
Salt Lake City
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Sorry David, but reality doesn't support your premise.
Taxes are lower now than any time in the last several decades, and the only thing tax cuts are accomplishing is channeling money away from the poor and toward the wealthy. Cutting More..
Why entitlements? We have all paid into them. If you don't even want to discuss reducing our military then you don't know what the vast majority of our budget goes to.
"In taxation, I understand that most of the wealthy are S corporations that employ people"
Do you know that for a fact or has it been repeated enough by the right that it is now accepted as fact?
Even if true, I still More..