The flat tax, the economy, and government debt. Economist and editorial writer for the Wall Street Journal, Stephen Moore, joins Dennis McCuistion to discuss a changing America in this edition of McCuistion Television. During the course of the dialogue, they discuss likely changes that will occur after the November 2008 elections, the uncertain economic environment, tax policies and the stock market.
In speaking of the 2008 economy, Stephen Moore admits that America has seen great prosperity in the past few years, but the economy of a changing America is slowing down. The reasons rest with the housing market and the weakening value of the American dollar. He addresses how the weakening dollar directly affects the price of food, oil, gas and inflation in general. He goes into deep detail about this, pulling in information regarding ethanol subsidiaries, the use of US farmland and cautions regarding overseas drilling versus taking advantage of the nation’s own natural resources.
Regarding the George W. Bush administration, McCuistion and Moore dialogue about the pros and cons, economically. He speaks on what the administration did right regarding tax cuts and what they did wrong in the way of overspending.
Exploring the subject of the fiscal debt and how taxes and tax revenues play into Government money, Moore offers his suggestions for remedying the tax situation and his support of a flat tax. The flat tax is “a tax system with a constant tax rate.” Moore offers his warnings and advice regarding the rapidly dwindling social security, medicare and medicaid money storehouse.
Ending the conversation on the politics and economic policies of a changing America, Moore offers his suggestions for tax reforms so that the future generations will be okay as the economy changes and the fiscal debt remains enormous. Suggestions he offer viewers include:
- Don’t count on government benefits when you retire. Begin saving money at a young age.
- Rise up and take on politicians and tell them to stop spending enormously.
01.11.09 – 1711