Mitt Romney created a controversial but necessary discussion with his “47 percent” comments. The fine points of what was said and what it meant remain a topic for debate. What was not said is of greater importance.
The simple math indicates that 53 percent of households will provide the money for the entire tax bill. U.S. Census data present a more dire picture, wherein those with taxable income are only 36 percent of the total population.
Our national debt is at $16 trillion. Each taxpayer has a $141,000 obligation just to pay that debt. The debt grows at nearly $4 billion a day. On top of that is the increasing daily cost to run our government and increasing interest payments.
This is not sustainable. There are not enough “rich” people to pay any significant share of the debt. The middle class, apparently the favorite of all political parties, is going to bear the burden of this spending and debt.
Working and retired taxpayers should feel an obligation to their children and grandchildren to get control of federal spending. It begins at the ballot box as a message to elected officials to slow spending and provide a balanced budget. We are responsible for putting them into office and we will suffer the consequences of our actions. Failure to act will impact 100 percent of citizens.