By Avi Solomon. As most of America waits to see if Congress and President Obama allow our country to go over the fiscal cliff, I eagerly hope that we do go over the “so called” fiscal cliff. No, I have not become a Democrat who loves to see the rich paying more taxes so that more Americans live off the welfare system. I am looking at the long term picture of this country assuming mashiach doesn’t come tomorrow.
American currency hasn’t been backed by gold since the days of President Nixon who took the country completely off the gold standard. Instead, the only thing that gives a dollar any value is the confidence that people have in the stability of the American government. If America doesn’t get its deficit under control and learn to spend less, then we will eventually become like Greece, which is in shambles.
The only realistic way to tackle the deficit is by raising taxes on as many people as possible along with painful cuts.
Thus, while I disagree that the wealthy or any Americans should pay a high tax rate I see it as a necessity to get us out of the mess that Bush and Obama got us into.
I acknowledge that going over the fiscal cliff will cause economic hardships for the country, but I believe the long term hardships that this country will face if we don’t deal with the deficit and out of control spending are by far much worse.
It is for this reason that, with a heavy heart, I hope we go over the cliff.