Taxes

Its really looking like if we want to take care of our debt, we need to raise taxes. Our tax burden isn't that bad compared to our taxes historically. One problem is that the super rich are super richer than ever before, but are paying much lower taxes (this is both a tax problem and points to a problem in the market). Another problem, as the first story below points out, is that a lot of people who should be paying taxes don't have to, thanks to a plethora of exemptions and loopholes.

Audio: Tax exemptions and loopholes

A history of tax burden

I sometimes wonder if our problems with taxes have less to do with the loss of money itself, and more to do with A) the stress of filling out paperwork (there are studies on this out there) and/or B) our increasing lack of a feeling of solidarity for the national welfare. After all, we are encouraged by objectivism, very prevalent both in the fore and background today, only to watch out for number one, and for years our presidents have been saying "The business of America is business!" instead of something more idealistic, for instance, "The business of America is Justice" or perhaps even "Think not what your country can do for you, but what you can do for your country." Perhaps if we stressed public spiritedness, we'd be more apt to take direct part in our government and wouldn't feel like it was this alien entity robbing us or hindering our "real" business.