"If Mr. Ignatieff gets into power, he'll raise taxes! So don't vote for him."
I hate paying taxes as much as the next guy, but let me get something straight, either we raise taxes to pay for our massive stimulus spending, or we let the debt grow and have our children and grandchildren pay it off, possibly in the form of a defunct economy.
It's pretty common sense to me. It's like owning a house. What would you rather pay, larger sums over a few years and get rid of the debt, or tiny sums that just make the debt grow and grow and grow?
If the government raises taxes now and runs surpluses, our debt goes down, our payments go down. Take a big hit now so we don't feel an even bigger pinch down the road.
Once, just once, I'd like a politician to admit this. "Yes, I will raise taxes because we have to pay off our huge debt."
And it is huge!
My share alone is almost $15,000
A family of four, $60,000
And the national debt increasing by $1,700 every second!
How do/did/would you pay your mortgage?