Debt, cuts are not necessary
Posted on August 26, 2011 in Governance Debates
Source: Toronto Star — Authors: Stephen L. Bloom
TheStar.com – opinion/letters – Re: Government debt the problem, Letter Aug. 23
Published On Thu Aug 25 2011. Stephen L. Bloom
Letter writer Peter Weygang says, “the real reason for the collapse of social order is that the number of government employees and under-employed people is greater than the taxpayers’ ability to pay for them.” Later he says that eventually governments must slash “jobs and services.” I disagree.
Politicians like the mayor would have us believe that this is the case, but the real problem is the trend by the right-wing (like the ever hopeful Tim Hudak) to slash taxes, creating a huge imbalance between what we as a society want to do and what we can fiscally do.
Warren Buffet, in the Aug. 21 New York Times supplement, wrote, “My [billionaire] friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.”
The same is true in Canada where the very rich pay a smaller percentage of their income in taxes than the middle and working classes. If the tax system were to be rectified, with everyone paying their fair share, there would be no problem with services or the need to slash jobs. There wouldn’t even have been the enormous debt that is facing us now.
Stephen L. Bloom, Toronto
< http://www.thestar.com/opinion/letters/article/1045080–debt-cuts-are-not-necessary >
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