With zero growth, our economy has gone south and in a free-fall for several years now. Unemployment is at its highest level in history, because of our already overregulated, cumbersome and draconian high tax structure; all businesses, including the small mom and pop businesses, are having problems paying suppliers, staff and other expenses.
Those that have not already gone bankrupt are just barely hanging by their fingertips.
Hundreds of kids are graduating from secondary schools this year, and hundreds more from colleges. With zero growth in the GDP, most of these young people will not find jobs in this economy. The tax increases proposed in the 2013 budget will not only serve to kill new jobs, but will also serve to create more layoffs and unemployment. The real estate market is all but dead, and property values have declined over thirty five percent in recent years. Investors, both local and foreign, have lost all confidence in our economy.
The already burdensome multiple layers of taxes, have already increased prices on food, utilities and other services. The poor and middle class are unable to feed themselves and their children properly. This budget is only serving to drive and increase poverty. The government needs to reduce all taxes, cut itself across the board by thirty percent and get rid of useless departments that only serve to increase bureaucracy, and hence encourage corruption.
Any parliamentarian who agrees to this budget is again directly assaulting the poor and middle class.
Peter Gunn – TDH