When Benjamin Franklin famously wrote that “in this world, nothing can be said to be certain, except death and taxes,” he neglected to mention a third absolute: our government’s eternal failure to agree on how high those taxes should be and what they should pay for.
As long as our nation continues to spend a lot more than it takes in, the issue will continue to be a saga between conservatives and liberals, the former fighting for lower taxes, fewer public services, and smaller government; the latter pushing for higher taxes on the wealthy, more government revenue, and a preservation of the social safety net. It’s like a really boring, annoying version of the NeverEnding Story (without the cool flying animals). Just think about the last few months in Washington: we narrowly averted hurling ourselves over the fiscal cliff only to re-enter into a battle over the debt ceiling. Continue reading