The Government is Losing Income Tax Revenue

22 and 57

What do those numbers represent?

Give up?

The first number represents an amount of individual income tax revenues. The second represent corporate tax revenues. Still do not know?

Tax revenues from individual income tax is DOWN 22% as well as tax revenue from corporate taxes which is down a whopping 57%!

This equals billions of dollars. Where is our government going to get the money to pay for all these plans for health care, clunker programs, and other spending programs?

You guessed it. Geithner did not speak out of place. I watched Robert Gibbs, the White House spokesman, dance around the subject of taxing the middle class yesterday. In his "uhs" and "ums", he unequivocally opened the door for higher taxes which will be wagered on the middle class - you and me.

History is repeating itself. Things are bad but because the liberal Democrats have not read the history that led up to the Great Depression; they are on the fast track to repeating the same mistakes which prolonged that depression - higher taxes (cap and trade), corporate taxes, and then middle class taxes.

We can make better choices:

• The FairTax is a good start - creates a constant flow of revenue for our federal government
  

• Cutting corporate taxes and giving small businesses tax breaks for job creation would be an easier start - lowers the prices of goods and helps provide revenue for businesses to create new jobs
  

• Drastically cutting back in federal spending is another - federal waste does not create jobs; it creates more debt
  

But the best idea would be for the President to man up and stop signing ridiculous spending bills and to revoke the stimulus spending. Why? The stimulus spending is not a fix - it is a bubble creator. He needs to be man enough to admit, now is not time for the change he is hoping for. Better change would come from a president who would much rather fix the spending problem of our government. Reduce spending and start paying off our national debt. Only then will we be in a better financial standing as a nation.

The stimulus is creating a situation in which inflation will skyrocket and the national debt will continue to bloom. The stimulus spending, when it actually gets spent, will in time make the economy look better - but at what cost? The stimulus is not a fix; it is a bandage. The problem is unfettered government spending which will take decades to recover from.

I am not a doomsayer. I am a realist. When I wanted to get control of my finances - I paid off all my debt. My wife and I will no longer use debt to fund our life. We use cash, and boy is it liberating!

Our federal government can do the same thing but very, very, hard decisions must be made, and that must come from stronger leadership.