If we take an honest look at the problems we face many of them cannot be resolved or even made somewhat better without Huge Amounts of additional money!
To keep the promises we have made as a country for our people under Social Security will require between $150 – $200 Billion dollars more each year. The principal reason why Social Security has a funding problem is the Baby Boomers. They have inverted the number of people working, paying into the system with the number of people receiving benefits. Trump pledges not to cut the promised benefits or raise the retirement age, but his plan to provide the required funding by simply reducing fraud will not come close. Independent analysis showed his plan would provide less than 5% of what is needed. The other Republican candidates go back to privatizing it for younger workers. This would allow younger workers to divert their Social Security taxes into an IRA type account and increase the funding issue. In addition, the younger workers IRS’s would be subject to the market fluctuations.
The Republicans ignore the Infrastructure Repairs which have been estimated by the American Civil Engineers at least $4 Trillion Dollars. The reason they ignore this issue is without large tax increases, there is no place to get that amount of money. It would require an annual investment of $250 Billion for 16 years. We need to think of this matter, especially that the 2016 Election is coming.
The Annual Budget deficit is another issue that will require added taxes to first stop adding to it each year and then begin paying it off. We still have a shortfall needed to just balance the budget of $500 Billion and if we begin repaying $300 Billion per year that is a total of $800 Billion. That is not coming from spending cuts or growth in the economy. Every tax plan the Republican Candidates have suggested were evaluated by independent experts and shown to increase the deficit. The Trump plan would cause the biggest increase in the National Debt.
As we examine our US Presidential Candidates we also need to see the many other issues that the facts have shown that following the Conservative agenda has either caused our problems or is preventing a solution. These issues are examined using FACTS, not political spin in my book, Broken Promises of the Conservatives.