Additionally, it is very unlikely that additional interest rate easing will do much to stimulate employment or GDP (Gross Domestic Product). We don’t just have a spending problem in Washington, we more importantly have a revenue problem. Since the slashing of the tax burden of the rich in the Reagan years and the Bush years, the tax revenue has diminished insanely. Whose to pick up the lack of tax revenue? What’s left of the middle class? How is that possible when they are the subject of double digit unemployment rates? The country’s leadership should stand up and push a new tax reform requiring the rich and corporations to pay their fair share of taxes and eradicate these idiotic jet tax credits, oil company subsidies and corporate tax credits for “headquartering” outside of the U.S. How can a financial house ever be in order if you consistently spend more than you ever bring in?
What do you think should be done?
For information on how to manage your finances during these hard economic times, give HLM Financial Group a call at 404-836-1120. For more information on HLM Financial Group visit www.hlmonestop.com.
Mercedes M Pasqualetti is a General Manager with HLM Financial Group and can be reached at Mercedes@hlmtax.com.