While it is called by some an interest free loan to the government, the payout at the end of the tax season creates a large hole in what could be used for handling government business until the end of the fiscal year in October.
Anyway you look at the numbers, reducing government spending, and increasing the amount of tax revenue is the only way that we will see positive numbers again as a country. We cannot continue to borrow against money we do not have and will not have. In terms of our debt, we are not getting any better, and if we are to strengthen ourselves as a country, we must get back to positive numbers in the check book.
Some other ways to help end the national debt are:
- Reduce the amount of money public officials are paid per year or at least sever their "all-expenses paid" travel budgets. This would go to include former presidents as well.
- Remove the tax cuts in place to "stimulate" the economy as it has clearly been shown not to produce the results projected.
- Stop pushing our politics on people who do not want them and stop "peace-keeping" missions to over-throw foreign governments.
- Put an end to privatized banking or only allow non-profit banking establishments. Allowing banks to spend money that is not theirs on bad deals and then ask the Government for a loan is not only bad business, but is bad for us as a people.
- Cut off subsidies to oil companies and push the advancement of transportation that does not require fuel. The technology is there, we just need the oil companies (and the government that earns taxes on every gallon of gas) to get out of the way.
- Legalize, and heavily tax recreational drugs. When you tell a person they cannot have it, is when they want it the most. Tobacco is heavily taxed and yet the hardy tobacco users still purchase it. Recreational drugs are being used regardless what the government says, at least the government could make some money off of it, as well as regulate it better this way.
- Redirect and reduce the amount of money spent on destroying the world, and focus more on maintaining and improving our infrastructure.
- Tax foods that are deemed unhealthy to reduce the number of obese people in the United States. This in turn would lower the amount of Disability claims for people who are too big to work, and will also help to reduce the costs of insurance.
- Last but certainly not least, bring employers back to the United States by making it more profitable to hire an American than to outsource to another country.