Mitt's Moot Point

Posted by Red Kingman on

I don't think that any Americxan would argue that our governments out of control spending needs to be stopped.  What I wondr is why doesn't presumptive GOP Presidential candidate Mitt Romney make that the focal point of his campaign?

Michael Medved on thedailybeast.com asked the question Are you willing to spend $2,675 a month to support the federal government? Would you choose to invest $32,100 every year to pay for the services Washington provides for you? 

In June the Treasury Department released figures on federal spending for May that showed the government blowing through $305.3 billion, with more than 40 percent of the total borrowed against our children’s future. What’s more, May hardly stands out as a uniquely costly month: in the first 8 months of fiscal year 2012, the feds have perpetrated average monthly spending of more than $301 billion.

Liberals may insist that such calculations mean nothing because of the progressive tilt of the tax system. They observe that we don’t distribute financial burdens evenly on all households because the rich can and should pay more. But even if we followed the promptings of the president and raised taxes on the most prosperous Americans, the figures still don't add up to a sustainable cost. Leaving current taxes where they are for “the 99 percent,” the IRS could impose a tax rate of 100 percent—confiscating every penny earned by the top 1 percent (those with adjusted gross Income above $344,000)—and it still wouldn’t come close to covering the cost of keeping the federal behemoth afloat.

Is it OUR responsibility to prop up the government when it is THEIR fault for the runaway spending?

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