Delegating the power is part of holding power. Let’s not act like Congress couldn’t simply abolish The Fed if they wanted to.
Sure they could alter the federal reserve act, but there is no broad political will in congress to do so.
So as it stands, the federal reserve holds the keys to the money creation machine.
That’s what you get with Republicans is fiscal irresponsibility.
Gotta cut the revenue first. If revenue isn't reduced, all they'll do is increase spending forever.
When gov has had the tax revenue, all they do is expand government with it. They never use it to pay down the debt.
....and the only time the gov has had extra revenue, the dems were in charge and used it to grow government.
Think of the tax cuts since Bush that haven’t been offset with spending cuts.
Tax cuts typically increase gov revenue. The Trump tax cuts led to record tax revenue. So did Reagan's.
We all wish taxes would be lower. However, I’d certainly pay more in taxes if it meant paying down the national debt.
Send some extra to the irs next spring. They have a method to send extra that gets dedicated to reducing the debt. Ie: put your money where your mouth is.
The tax base in America could easily withstand extra taxation in the amount needed to balance the budget as it stands today.
Not is it goes above 18% of gdp. Beyond that, there is negative effects on the economy.
Don’t be to the 16th amendment what @TheResister is to the 14th amendment.
The 16th destroyed part of the Constitution that was important to the Founders intent for a small, limited power federal government.
Progressives that are hell bent on destroying the Founders original intent and creating a huge bloated gov with virtually unlimited power, love the 16th Amendment.
Anyone who supports the Founders vision finds the 16th abhorrant.
If we are talking spending cuts that are actually in the realm of possible I’ve already posted a list above from the CBO. I’d love to hear your thoughts because there are many there I would personally support.
Just get rid of all of the administrative agencies.
This is a serious issue that deserves attention so let’s not get derailed with conspiracy theories about The Fed, gold standards, and sunsetting Social Security.
If we were still on the gold standard and the fed had never been created, we would not have the problem of $33.5T in debt to deal with.
Taxes, taxes, taxes......tax cuts actually increase tax revenue as history repeatedly shows.
It sure does.
The tax base in the US shouldn't have to withstand additional taxation,
There is too much now.
What we need is a system of apportionment for ALL taxes.
If we are all supposed to be equal in the eyes of government, and we are all supposed to be equal relative to our Rights that are protected by government, we should all pay an equal amount in order to fund our government.
It would also have the benefit of keeping the gov small, as it would not have the funds to waste as it does now.