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In Short

More Revenue, Please

Down the hall my colleagues at the sponsored a for people across the country to tell the budget experts in Washington, DC their ideas on ways to fix the budget.

The winners were announced yesterday during their 鈥溾 event, which featured a very elevated and constructive discussion. I listened to most of the event while at my desk (. For me, the presentations collectively reinforced the importance of shifting the current focus away from spending cuts toward identifying ways to increase revenue. It seems clear that will need a bigger pie in order to meet our responsibilities to each other as a society. This includes being able to provide a reliable safety net to assist those who need help but it鈥檚 also a precondition for the types of investments in education, infrastructure, and research that will determine our future prosperity.

Now, I鈥檓 a firm believer in responsibility. If we can find waste, fraud, and abuse in federal spending, let鈥檚 start by cutting that out of the budget. I鈥檇 like us to get a handle on long-term health care spending and bend the cost curve. I think the Pentagon’s budget should assessed and probably reduced. But I also believe there is an imperative to increase the revenue side of the ledger. Almost all of the fiscal commission plans that approach this topic credibly recognize that some new source of funding will be part of the solution. I welcome the discussion as to whether this should be a value-added tax, a financial transaction tax, a carbon tax, or the simple gas tax. We should be focusing on these options and ways to ensure they can be implemented progressively so the burden is fairly distributed. 

Here鈥檚 one of the runner ups, Anna Flaherty, that I missed out on the cash prize but I thought should have won. She makes some excellent points in a compelling presentational style. I鈥檝e always been partial to the singer-songwriters who put themselves out there with just their guitar. But this is the first song I鈥檝e ever heard featuring the gas tax. Well done, Anna. I’m not sure Dylan could have done much better.

 

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Reid Cramer

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More Revenue, Please