Certain members of Congress are fixated on symbolic actions rather than addressing the problem. The latest misdirection has been "stopping tax breaks for corporate jet owners". Changing this writeoff, first inroduced by the same people complaining about it now, would address 1/5000th of the budget gap.
Go ahead and cut the corporate jet tax break. Quit talking about it. Throw in all the other businesses the government should stop funding - radio stations, TV stations, abortion clinics, unproductive farm land, etc. In the end, however, there will still be a gap to be addressed.
But we've solved this problem before ...
In 1982, a corporate and personal tax cut created 15 million new jobs! We've spent over a trillion dollars, and have made zero progress toward a fairly modest objective of 3 million new jobs. In a global economy, jobs will grow where business conditions are best.
Think of the additional revenue 15 million new wage earners would pay into government coffers. It is possible to cut taxes and raise revenues. Yes, if the cuts are designed to improve business conditions and not redistribute wealth. We've done it before.
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