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Economic policies and general welfare

February 22, 2012
La Vern Hoelscher, Marshalltown , Times-Republican

On the opinion page of the T-R in the Feb. 15 edition was an article titled, "The problem of uncontrolled spending." The article laments that, "a deep philosophical divide between conservatism and liberalism has resulted in a massive national debt."

In his view, the legislation most involved is that regarding the,"entitlement programs of Social Security, Medicare and Medicaid."

He continues, "The country's deficit is exclusively a spending problem." This seems to discount government revenues rather casually. However, he allows that a correction might include lowering the corporate income tax or creating a national sales tax.

The first of these would subsidize the source of most of the cash flowing to the new Super PACs financing the presidential campaigns of both parties. Does not this create a self perpetuating cycle of power?

A recessive national sales tax, on the other hand, would reduce the influence of those with the lowest incomes.

The author recommends policies of Presidents Harding and Coolidge. (1921 - 1929) Herbert Hoover reaped the consequences of those policies eight months into his term. The Great Depression began.

Perhaps the philosophical basis of our economic policies should be the "general welfare" referred to in the Constitution.



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