Difficult Decisions
Dear President Bush and Congress:
I have written you to discuss our national budget and the inherent problems in our fiscal policy. Although I am not the best informed on this subject I think my opinions and ideas are relevant. I have several ideas for both raising more capital and lowering government expenditure. I believe action must be taken on both fronts to curb our national debt before it adversely affects our economy.
I will first share my ideas on lowering government spending. First and foremost I believe we must lower defense spending and downsize our military. We have the most powerful military in the world and can afford some budget cuts without risking national security or global standing. We must also cut spending on the home front. I believe we should lower welfare payments and encourage people to find jobs instead of relying on the government. We should also give tax incentive to wealthy citizens to give up their U.S Bonds therefore lowering the Federal Debt. Also the wealthy should be eliminated from the Social Security System.
The second part needed for responsible Fiscal Policy is the generation of income. Our Governments main source of income is taxes and therefore some taxes must be raises to curb the deficit. Taxes on gasoline and cigarettes should be raised which would generate more Income and lower our nations dependence on them both. Also I believe that Marijuana should be legalized for personal use and taxed and regulated by the Government. The possible income from this method is large and also eliminates the criminal element, cutting cost in Law Enforcement and Imprisonment. I think we can learn much from the example set by Holland. Finally I think we should lower international trade tariffs, whic ...