Monday, August 8, 2011

National Debt

I can understand the Congress hesitating to increase taxes.  I don't want to see taxes increased because I think I pay more than my fair share now.  Also if taxes are increased, we all know that the Congress will have add on bills that direct some of the increases to their pet projects!! MORE SPENDING!!  I am not apposed to collecting more from the rich but believe a restructuring of the tax law is a better approach.  A flat tax on every dollar earned should be imposed on everyone except those in poverty level.  Let it be fair though!! The same percentage for the rich as for the middle class and no deductions for anything.

Now I believe the American people are willing to help reduce the deficit and pay off the Debt.  If the Congress would pass a measure that would protect the money and restrict it's use to paying off the Debt and not used for any other project, a fund could be set up that allows the American people to donate money on a voluntary basis and used only the help with the debt.  If every American donated just $5, I estimate it could raise close to a trillion dollars each year that would go directly to paying off the principle of the debt. Any such  law would also have to ban the Congress from borrowing against the money collected.

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