Tuesday, September 13, 2011

STOP Government Spending

Write to your elected officials.  Let them know that we can't just keep letting the government spend all this money.  What does AA+ mean to you?  To find your representative, go here.  To find your senator, go here.

I sent the following letter to Steve Southerland, Bill Nelson, and Marco Rubio:

I need you to stop government spending.  When we are in debt, we should save as much as possible.  Even when we run a surplus, historical evidence shows that government spending is not as great a boon to the economy as private sector spending.

In addition to spending less, I realize that the government needs to take in more money.  I'm not a fan of taxes.  I know they cause distortions in the market.  I never like paying taxes nor does anyone else.  We need to face the fact that tax revenues need to increase, but it's tricky to say whether that means we should raise or lower the tax rate.  Any adjustments should be made carefully.

Everyone understands that a household encumbered by credit card debt needs to pay it off as soon as possible and do whatever it can to avoid borrowing more until the original principal is paid off.  Why is it that we cannot scale this same logic up to the level of federal government?  The easiest way to stop borrowing is to stop spending.  Stop funding peanut festivals.  Stop pork barrel spending.  Stop giving away agricultural subsidies.  Stop fighting 3 wars.  Stop blindly giving "aid" money to the corrupt governments in developing countries.  Aid money would be better invested in microfinance firms where we could recoup the investment after a couple years and the aid would go directly to the people.  Simplify the tax code and get rid of 3/4 of the IRS.  Stop trying to save failing companies.  The market NEEDS bad businesses to go away in order to free up capital for more productive endeavors.  Cut your losses on the failing post office (sell the rights to a private company).  Stop the war on drugs.  Legalize pot & prostitution...there's some sources of revenue that would reduce expenditure on law enforcement and lower crime.  Give a pay cut to all elected officials to show real leadership.  Stop giving idiosyncratic tax breaks to big campaign contributors.  Close tax loopholes.  Don't put the burden on the shoulders of my generation and those who come after me.
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