Generation “Chump” plus the “Fair Tax” solution
Two great guests on the show today (plus the SOS of course). WaPo columnist and author Robert Samuelson and author of “The Fair Tax Solution” Ken Hoagland.
Washington Post columnist Robert Samuelson, author of the “Great Inflation Aftermath” joins us to talk about how the exploding Federal debt may turn the millennium generation into generation chump.
Regardless, more bad news may lie ahead. As baby boomers retire, higher federal spending on Social Security, Medicare and Medicaid may boost Millennials’ taxes and squeeze other government programs. It will be harder to start and raise families.
Millennials could become the chump generation. They could suffer for their elders’ economic sins, particularly the failure to confront the predictable costs of baby boomers’ retirement. This poses a question. In 2008, Millennials voted 2 to 1 for Barack Obama; in surveys, they say they’re more disposed than older Americans to big and activist government. Their ardor for Obama is already cooling. Will higher taxes dim their enthusiasm for government?
Then we will be joined by Ken Hoagland, author of “The Fair Tax Solution” who will be talking about the coming tax revolution.
This is why more than a thousand people an hour have been joining a digital tax rebellion marching on Washington at www.onlinetaxrevolt.com. FairTaxers, Flat Taxers, Reagan tax reformers and many others are being pulled together to bring another Boston Tea Party to Washington, D.C. on April 15. While people may disagree on the best solution, there is widespread understanding that the American people cannot win back control of their government until the federal tax system is either repaired or ripped out by the roots and replaced.
Revolutionary? Yes, in the same spirit as Boston Harbor and why not? We are a people who rallied against “taxation without representation” and yet future generations of unborn Americans are being taxed to secure mind-numbing levels of federal debt today.
An exciting show for sure.
4 Comments
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Jim, this generation, is robbing Peter, future generations, to pay Paul, this generation. Thanks for having both Robert Samuelson and Ken Hoagland on as guests. :)=^..^=
I paid a lot of income tax on what money I still have, when I earned it, and have no interest in the Feds taxing me on it (again) with a fair tax. Sign me up for the flat tax!
A consumption tax may be "fair", a flat tax is equitable. Either tax scheme would be far less onerous than the labyrinthine abortion that passes for a tax code under which we now punish citizens.