Thursday, September 22, 2011

How to dig out from under national debt

I just watched an interesting video by Elizabeth Warren, a former Harvard Law School professor and candidate for the United States Senate. She discussed how the national debt was incurred and how it might be relieved.  She indicated the nation spent one trillion dollars on tax cuts for the wealthy, two trillion dollars on the wars in Iraq and Afghanistan, and then and additional one trillion on a Medicare drug benefit plan.  To fix the problem she recommended we need to quit doing these things.

She went on to state NOBODY got rich in the United States on their own.  They had workers who were educated with taxpayer support, police and fire support to protect their business which was paid for by others, and roads to transport their goods that were collectively paid for.  She suggested that those who have been financially successful take a significant hunk of what they've earned and pay forward for the next kid that comes along.

This video is available at the following link, Elizabeth Warren on Debt Crisis, Fair Taxation.

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