Details on the federal "stimulus" keep coming in and they don't look good. The latest will lead to rapid expansion of the state Medicaid at a time state taxpayers need someone to protect them from this new, gathering storm:
Kentucky taxpayers are directly responsible for paying 30% of the bill for the state's Medicaid recipients. Growing deficits might, in a sane world, inspire state officials to try to reduce dependency on the program.
This bailout will wind up costing us more than we want to think about.
Friday, February 20, 2009
The worst thing they could do
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1 comment:
What's wrong with an expansion of state Medicaid? Too many Kentuckians are without health insurance as it is.
As far as deficits are concerned, BPB loathes and detests American values and ideals so much that it can't bring itself to support Alexander Hamilton proportional taxation idea, expressed in Federalist Paper 12:
"The ability of a country to pay taxes must always be proportioned, in a great degree, to the quantity of money in circulation, and to the celerity with which it circulates."
Too, do you realize that the derivatives market, valued at $531 trillion, if taxed at 5% would generate about $26.5 trillion to the treasury?
Proportional taxation that taxed the movement of all moneys, would lower taxes overall for everybody.
Hamilton understood the importance and necessity of the circulation of money, and the need to tax that circulation.
In Federalist Paper 30, Hamilton wrote:
"Money is, with propriety, considered as the vital principle of the body politic; as that which sustains its life and motion, and enables it to perform its most essential functions. A complete power, therefore, to procure a regular and adequate supply of it, as far as the resources of the community will permit, may be regarded as an indispensable ingredient in every constitution."
Alas! There's some more of those anti-conservative values expressed by our founders.
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