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What Sequester? Federal Spending Still Not Cut!

March 26, 2013

The great sequester of 2013 is upon us! And what has it done might you ask? Apparently not much!

Sequester? Sheeee it boy--we live in a seeekes...

 (Photo credit: idropkid)

For fiscal year 2013 the United States government has spent over $30.5 billion more, in the first five months of this fiscal, than the first five months of  last fiscal year. CNSNews.com states that for fiscal year 2012 the first five months of spending was at $1,473,999,000,000.00. In FY 2013 it is at $1,504,547,000,000.00. That is a lot of money added that the sequester was supposed to cut back on.

The author Terence P. Jeffrey also goes on to state that the scheduled sequester cuts will only cut about $44 billion out of the budget for the remainder of the fiscal year. This just goes to show that Congress and the government does not know how to manage money at all.

Congress needs to focus on cutting the programs that cost the most with little positive outcome. Requirements for federal aid and food stamps need to be more strict and not allow non U.S. citizens to collect food stamps benefits. If we can not take care of our own citizens we should not be helping non-citizens. I would say if we had a $16 trillion surplus then we should share the wealth, but the bottom line is we do not have any wealth to share.

Corporations would also be able to hire more people and create more jobs if they were not taxed as much as they were. This would boost the economy because there would be more taxpayers and products would cost less allowing people to have a livable wage.

Taxable Income ($) Tax Rate[27]
0 to 50,000 15%
50,000 to 75,000 $7,500 + 25% Of the amount over 50,000
75,000 to 100,000 $13,750 + 34% Of the amount over 75,000
100,000 to 335,000 $22,250 + 39% Of the amount over 100,000
335,000 to 10,000,000 $113,900 + 34% Of the amount over 335,000
10,000,000 to 15,000,000 $3,400,000 + 35% Of the amount over 10,000,000
15,000,000 to 18,333,333 $5,150,000 + 38% Of the amount over 15,000,000
18,333,333 and up 35%
Table thanks to Wikipedia!

This is the current tax rate for corporations and businesses large and small. Lowering taxes has proven to be better in balancing the budget. When Calvin Coolidge was President he lowered the income tax rate to 25% at the top bracket and had one of the best economies under him. By allowing businesses to have a larger bottom line it would allow them to bring work back here instead of overseas.

English: Calvin Coolidge.

The U.S. needs to get its act together and balance the budget. I can’t put my personal budget into $16 trillion of debt without adverse effects, so neither should the government.

-YoungEmt

P.S. Weigh in on this issue in the comments. If you want more of my views on current events and happenings leave like here! Thank You!

 

 

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From → Daily Post, News

2 Comments
  1. The whole world is suffering Joey. The Euro is collapsing in Europe, and the economy is failing to recover in the USA too. I think we are in for dark days ahead, and we will have to re-think our whole way of life. it is never going to be the same again. I am just selfishly pleased that I had a good life up to now, and I feel sorry for all you youngsters reaping the harvest of the thoughtless attitudes in the 1980’s. regards, Pete.

    • It is very true Pete! I am not looking to the future if we keep doing the same old when it comes to our economies. Eventually we will figure it out; probably when it is too late. Thanks!

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