In the 1970s after I paid my taxes, I would lay in bed at night trying to figure out where we had spent all the money we had made (less than $10,000) and have nothing in the bank. We rented a small house for $140; health insurance was covered by work (still paid a portion) and had a $125 car loan. Taxes were the biggest item and were mandatory.
To figure out where it went I started to do a budget – it was an eye opener. Budgeting made a difference into what we borrowed. We borrowed to buy a lot, paid it off, and then borrowed and built a house I designed. Through budgeting and time we have paid off all debts.
This behavior is exactly what the conservatives in Washington D.C. have been saying responsible people should do. Then why did the Republicans vote to give a huge tax cut for corporations that are awash with money and billionaires when we are over $20,000,000,000,000 in debt? The Democrats did not vote for it and several Republicans voted for it because their vote was bought by amendments in the bill. Suddenly principles and admonishing us to be more responsible were buried for politics and being re-elected.
History has shown tax cuts are net losses to the treasury. So this would be similar to my being several million in debt and borrowing another million which I can’t pay for. So instead of increasing revenue to pay off my loans, I decided to cut my hours to 32 instead of increasing them to 48. This is exactly what our Republican leaders just did. So much for years of preaching fiscal responsibility. Do as I say and vote for me again!