Time To Tax The Pancake Eaters??
November 27, 2009
– Comments (3)
In war we take the children of the poor.....maybe we should take the money of the rich????
NEW YORK (CNNMoney.com) -- War is expensive, and it's about to get more so if the U.S. government escalates its military efforts in Afghanistan.
President Obama is set to announce his strategy next week. And the question of cost hovers in the background of the difficult decision he faces.
Over the past eight years, the nearly $1 trillion cost of the military's efforts in Iraq and Afghanistan was essentially charged to the national credit card.
Will it be different this time?
There's some chance lawmakers may opt to pay the bill as it comes due, rather than letting the balance and interest accrue. It's not the first time the idea has come up, but it may be the first time the idea is given serious consideration.
A big part of the context for deciding whether and how to pay for a buildup are the growing deficits that have become a political and financial albatross. The country's accumulated debt is expected to rise from $12 trillion today to $21 trillion by the end of 2019.
Some lawmakers are pushing for a war tax. Peter Orszag, the White House budget director, took part in the latest war council meeting. And Obama is expected to raise the cost issue in his Tuesday evening address at West Point.
The surtax would start at 1% for anyone with taxable income and increase gradually up the income scale to as much as 5% for the highest-income households.
http://money.cnn.com/2009/11/25/news/economy/paying_for_Afghanistan_war/index.htm
Welcome to the world of Zombulation.....
First You Know
Then You Feel...no matter who you think you are or how many flat screens you have.....
Finally It Collapses without any discrimination who it falls upon
RSS Headlines
Fool UK