Dear Mr. or Madame President
I am a high school student in a small town, where the business's are small and most people are middle class. Growing up I have seen small business's being taxed to high, and also people. This is a result of not taxing higher classes and big business's enough. Lately, I have started working and seeing taxes come off my paychecks has opened my eyes to why America needs to get out of debt.
As you may know one of America’s biggest problems is our debt. "Total Federal Government Debt in 2016. At the end of the fiscal year “FY” 2016 the gross US federal government debt is estimated to be $19.3 trillion, according to the FY17 Federal Budget." We need a President that can step in and help erase this debt. Are you the one that will do this? If so, you must read this letter.
There are many ways to start erasing the debt. Some include cut backs such as foreign wars, early retirement, and benefits for people with high income. By doing just these three things we could save billions of dollars. Such as, “Reduce Benefits For Those With High Incomes - $54.billion” "Having Americans retire a lot later, perhaps in their 70's instead of their 60's, could help fix the national debt by increasing the amount of time people pay income taxes and shortening their reliance on Social Security. And these cut backs are just the beginning. "However, it is possible, and if we look at the size and scope of the government, military spending, entitlements, and tax reform, there are ten ways to eliminate our deficit by 2030." If you do your job America can be free of debt in just a few short years.
This issue is affecting everyone across the country. We are having to pay more for simple things, such as higher taxes. These taxes come out of my pocket as explained earlier. "Higher taxes. Over the past few decades, Americans have voted themselves more benefits than they are willing to pay,” As proven we are willing to do this, however once we get out of debt we can stop the over priced taxes. Another way to help delete the debt is taxing the higher class citizens higher percentages than the middle. At the end of 2011, there were around 5.1 million High Net Worth Individuals “HNWI's” in the US, while at the same time, there were 11 million millionaires in a total of 3.5 million millionaire households, including those 5.1 million HNWI's. Doing this would not even make a dent in multiple people's pockets.
Thank You for taking the time to read about the issues of this country. I hope you will consider my beliefs, and help America start climbing out of debt.