For the last 30 years or more, we have been living high with no accountability. Just borrow and continue living high. Well, now the piper needs paying.
I do not understand how anyone can live in this country and not pay some tax for that privilege, no matter how little they make. I feel everyone shoudl pay income tax for this privilege, even if it is a low percentage, but something.
I feel there should be a surcharge on our income tax to pay off our highly irresponsible debt and the surcharge must be earmarked to be used only to reduce the debt principal, no interest or anything else.
No more debt must be accumulated, only pay as we go. No money, no program. Operate like the states, within our budget.
Talk of a value added tax is not appropriate because it would take a new big governmental department to collect and administer it, the receipts would be washed into the general fund, not used to only reduce the debt, and it would never expire.