Daily writing prompt
If you had the power to change one law, what would it be and why?
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There are actually quite a few laws I'd like to change, but the one that comes to mind at this moment is the US Tax Code.
If you pay attention to economic news, you know Federal Reserve Chair Jerome Powell recently said the national debt is unsustainable. He's far from the only one who thinks that. Per the Congressional Budget Office, the projected deficit for FY24 is $1.5 trillion, and while we used to push the interest on that debt off on other countries, they're no longer willing to shoulder our burden and are pushing back.
There are only two ways to address the deficit: cut spending or raise taxes. I am not opposed to curbing spending, but there is no way in hell we're going to quickly come to a consensus on spending cuts that rein in our massive debt. We need to raise taxes.
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The problem with raising taxes is the perception of inequity in the tax code. Some of those concerns are legitimate. My theory is the way to get everyone on board is to subscribe to a simplified tax plan that's been touted for years. Under a flat tax system, everybody pays, and we each pay a fixed percentage of earnings. No deductions. No give-backs. We all benefit from the services government provides, and we should be expected to pay for those services.
I believe there should be no tax-exempt institutions. Churches and other religious organizations should be taxed. Non-profits should be taxed. Businesses should be taxed. Yes, I know corporations pay taxes in other countries too, but those corporations greatly benefit from doing business in the US and should pay for the privilege of doing so. I also am well aware that those businesses will pass on those costs to the consumer, same as they do their political donations, excessive executive salaries and bonuses, and shareholder earnings.
A huge plus to a flat tax is that filing our taxes would be so much easier. I filed my federal return this week and completed no less than eight different forms. Taxes should not be so difficult that many of us end up paying a service to help us file.
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To be clear, spending also needs to be addressed. First off, no more of this passing the budget buck down the road because we can't all get along. Quit playing games and pass a budget prior to the beginning of the fiscal year. The current fiscal year began October 1, 2023, and we still don't have a complete budget in place. That is irresponsible.
Our military budget is bloated, and Congress hides this from us by passing a Pentagon budget separate from the budget for all other government operations. That should stop. The public should have more awareness of how much and on what the Pentagon is spending. Some things cannot be made public because they provide information about our capabilities to our enemies. But this idea that the Pentagon does not have to be accountable to the American people is not acceptable.
Next we need to have a serious conversation about what this country believes is acceptable spending. Do we believe we should provide SNAP benefits, block grants to states for welfare assistance, child care subsidies? Do we believe we should subsidize farmers, the energy sector, and other industries?
For programs that make the cut, we should review them to see if there is a more cost-efficient way to provide the service. For example, the federal government subsidizes school lunch programs, child and adult care food programs, and summer food programs, among others. If we truly want kids to be fed, why not put the onus on their parents by giving the parents the money directly instead of paying for all this oversight that enforces wasteful rules like kids have to have milk with their lunch when many kids don't like milk and won't drink it? Why do we assume poor parents won't feed their kids so we have to make schools, daycares, and sponsors do it? Feeding Our Future, a Minnesota-based COVID feeding program, is alleged to have stolen over $250 million of federal funds. If we'd given the parents SNAP benefits to help feed their kids and then the kids weren't being fed, CPS would get involved and SNAP would investigate for potential fraud, the loss of which would be much less than $250 million.
It's time to take on this monumental task, but I am not sure we're ready for that yet. We can blame politicians, but we elect them so it's really on us, and we are still letting bullshit out there on the internet cloud our judgement. We are not yet at a point where we're willing to do anything but argue.
But I do see signs this is changing. Maybe soon.
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