So, Do You Like Taxes?
Posted by Ray on October 29, 2008 under Main | 
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Regardless of what happens next week the one thing we know that is going to be a fact is that there is no tax cut coming, for anyone. All those campaign promises are just the stuff to get the person in office and once they realize that Congress has to approve it and they have to pay for it somehow.
Both candidates say that there will be tax cuts, but it just is not possible. If either of them get what they want then we are, long-term, in big trouble. We have too much debt, as the financial meltdown has shown us, and there is no one to bail out the government if it fails, well no one we want to bail us out, huh, hum China…
No matter who wins the election there is no way we can keep taxes where they are. They will have to go up in order to boost revenue in the short-term. We do not want to see it happen, but there is simply no other way out of this huge deficit we have. Neither party can deliver the tax cuts or their talking point programs there simply is no money to fund them with.
When they figure this out then they will look to us, again, to pay for their pet projects and staggering debt. Taxes go up and down, but now they will have to trend higher. Sorry, and keep your political comments to yourself please as we believe both candidates are very, very flawed.
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