At every level of government, the plan is to raise taxes. The President’s State of the
Union address will focus on raising taxes on the rich and strengthen the
middle class with tax credits for working families and expanding the
child tax credit. With the nation gearing up for the 2016 election, the
big winners here will be the cable news channels. Our national debt is
in excess of $18 trillion and and unfunded coming due of $92 trillion,
neither side will focus on the obvious issues. Our infrastructure is in
serious need of a facelift and we need leaders that will work together.
The size of government needs to be reduced drastically and resources
need shifted to the private sector – not tomorrow, now.
Many already believe that America is past the tipping point when it comes to taxation
– that we’ve already dug a hole from which we can never climb out of.
Obviously the debt will never be tackled with deficit spending every
year. And there is no reason to believe that we will even have a
balanced budget in the near future.
Every single area of our government can be improved. A great example would be the
ability of UPS and Fedex to flourish and our Post Office struggling and
raising rates on stamps far too often. It’s eerily similar to raising
tax rates. It not at all about being more equitable. Its admitting
what’s broken and having the courage and leadership to fix it.
Mark Schuster, Partner
January 18, 2015