Let me get this straight.
We have managed to run up a massive deficit because of our inability to manage the tax money we get at the federal level. We spend way more money than we take in.
In any other small business model (or corporation for that matter) this formula wouldn’t work. This formula also doesn’t work for your average family budget either. You simply can not sustain an existence based on spending more money than you actually have.
We’ve held a federal level deficit for many many years.
Spending other people’s money is just too damn appealing I suppose because logic and common sense dictate that this behavior be corrected in order to allow growth and stability.
The “transition” tax is supposed to help combat the rapidly growing deficit but I’m afraid it’s akin to trying to fix a stab wound by making more stab wounds.
As I’ve said on Twitter and Facebook, what planet am I on?
Really.
