And the “no duh!” award goes to…. Peter Morici
Peter Morici is a guest blogger for CNBC and is professor at the Smith School of Business at the University of Maryland. Ok, that’s nice. During the recent presidential campaign, no rally cry with the Democrats and their sheeple voting block was “Sock the Rich!” It seems these brilliant thinkers believe taxing those who create jobs is a good thing and it will help balance the budget.
Not so fast there Skippy.
The good professor has figured out that soaking the rich will not solve the problem. No kidding? You mean the problem is not one of revenue? Oh my goodness. We are all so dumb.
Yep, the facts are in. Spending is the number 1 issue with the budget. There’s way too much. Welfare, military, foreign aide. You name it. All of it needs to be reduced. For too long the politicians have been buying votes off the back of the unborn. The good professor is right. Tax increases will not bring in enough money. The frugal US government will spend all that in 6 days.