Going over fiscal cliff might not be bad idea

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Going over fiscal cliff might not be bad idea

IslandPacket
info@islandpacket.com
Published Tuesday, November 20, 2012   |  209 Words  |  

A recent story in the newspaper defined the "fiscal cliff." My response: Let's go over the cliff.

Here's why:

  • No to a 20 percent military hit, but yes to a 10 percent hit. Why are we the world's police force? Why do we have 52,000 troops in Germany and 35,000 in Japan?
  • Yes, go back to the 2001 tax brackets. If the Clinton tax brackets produced a budget surplus, and the Bush tax cuts a deficit; let's go back to Clinton's. Let everybody feel the pain.
  • Yes, stop raiding social programs with the 2 percent payroll tax holiday. These programs are going broke without making it worse.
  • Yes, raise every household tax by $3,500 in 2013. Let's all feel the pain of government overspending.
  • Yes, let the unemployment rate go to 9 percent. Perhaps it will force federal employee layoffs.
  • With agreement on the above, let's go a step further. Let's bring Democrats and Republicans together in the spirit of compromise and agree to reduce government by 5 percent and all entitlement programs by 10 percent. This is how the private sector responds to a bad economy and how successful companies stay in business.

    Dave Gies

    Sun City Hilton Head