Is it just me, or are we in the middle of a nasty divorce? I am appauled how the political parties lack bipartisanship and can not come to a conclusion that will better the majority of the American people. I understand both parties have concerns with tax cuts, but we ALL have to sacrifice in order to reach a mutual agreement.
Philosophers have created many ethical theories throughout history. John Stuart Mill suggested one called Utilitarianism which states, "when faced with a dillema, one must consider the potential outcome of the consequences and choose a solution that will generate the most pleasure." Meaning: the action should achieve the greater good for the most amount of people.
According to an article posted by CNBC, "4.78% of US households claim millionaire status for year 2010." The study defines millionaire households as those with $1 million or more in investable or liquid assets (excluding sponsored retirement plans and real estate).Obviously 4.78% is low, meaning the billionaire percentage is lower; thus the majority representation of Americans are middle and lower class. If we apply Mill's theory to this revelation, it is certain the majority( middle class) would not benefit by increasing taxes and the minority (high class) would continue to benefit with unnecessary tax cuts.
Lets face it, a majority of Americans are middle class and feel this economic hardship. People are loosing their jobs, foreclosing homes, and small businesses are having to shut down after several decades of operation. How can Congress sleep at night knowing Americans are facing economic adversity?
I am a recent college graduate who attended a private university with a $34,000 year tuition. I find it frustrating I ranked top of my department, yet all the positions in my feild aren't hiring. Jobs that are hiring do no require a degree, thus I am confused as to why I spent all this money. At times I would like to send goverment officials my student loans and tell them they are more than welcome to take on the payments until this economy becomes lucrative again.
According to Congressional Budget Office, the U.S. debt is at an all time high (excluding the World War II era) due to these primary factors:
- An imbalance between federal revenues and spending (which predates the recession)
- Unstable economic stability in financial markets
- And federal policies which were implemented (due to the two prior factors), and resulted in a domino effect.
I end with this: Our economy is not a child that officials can fight over through an egotistical divorce. What if Americans decided not to vote in the 2012 elections? What if our nation met for drinks, verses taking to the polls? I can guarantee this country would be complete anarchy and crumble. But fortunately we live in the United States of America, with a democracy and ability to vote for our rights. So I ask officials to rememebr who elected them in office, and do what is best for EVERYONE; even if it means doing something you don't agree on.
"The people may have voted for a divided goverement, but a they did not vote for a dysfunctional goverment."- Obama 7-25-11
LisH
Feel free to conduct more research at the following sites:
http://www.cnbc.com/id/39405689/US_States_with_the_Most_Millionaires_2010
http://www.cbo.gov/doc.cfm?index=11659
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