We have to enact consumption taxes–no two ways about it. We can get ourselves out of the mess we got ourselves into. The idea that cutting taxes on the rich would increase revenue and make the entire country prosperous was a crackpot idea. Instead, we neglected the infrastructure and other investments that would make the country grow.

Could become? COULD BECOME? Add in the mostly unreported in the mainstream media $9-$12 trillion, depending on your source, in guarantees to the major banks, and yes, I’d say that this $20 trillion dollar sword of damocles COULD BECOME a full-fledged economic crisis. How about COULD BECOME an ECONOMIC MELTDOWN of a proportion never seen or imagined in the history of the world.

Could become. Oh, yeah.

Kent Shaw

Kent Shaw

Kent Shaw

Our tax burden is already suffocating and Obama’s about to renege on his pledge of not raising taxes on the middle class. Are there any more promises yet to be broken by Obama?

The House just passed a massive taxation scheme in HR 2454 that will increase the costs of virtually everything associated with human existence while fueling another Wall Street binge, not to mention put another nail in the coffin of the twitching remains of American industry.

We already pay a consumption tax on virtually everything. More taxes aren’t the answer, nor is the debate over who should shoulder the burden.

“If we can prevent the government from wasting the labors of the people, under the pretence of taking care of them, they must become happy.” – Thomas Jefferson

“[With the decline of society] begins, indeed, the bellum omnium in omnia [war of all against all], which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man. And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression.” –Thomas Jefferson to Samuel Kercheval, 1816.

The Founders believed not in accruing massive debt, but that the United States preserve the nation’s credit rating and ability to borrow if necessary.

“Though much an enemy to the system of borrowing, yet I feel strongly the necessity of preserving the power to borrow. Without this, we might be overwhelmed by another nation, merely by the force of its credit.” –Thomas Jefferson to the Commissioners of the Treasury, 1788.