IMO, the reason that our debt ceiling is broken is that politicians pander to the voters who recieve more government dole than they contribute to government coffers or to the economy via productive effort.
Bastiat voiced his concern about voters and legal plunder. We are awash in politicians who get elected by preaching redistribution of wealth.
There was an article in the
WSJ on Aug 19 ("
No Easy Answer on Tax Issue" by JONATHAN WEISMAN - you need a subscription to read) that cited, "nearly half of all American households don't pay federal income taxes".
Founder, John Jay, said, "Those who own the country should govern it." The problem, as Republican economists say, is that "people who don't pay income taxes have an incentive to support politicians who promise more federal programs, since they aren't paying for them." This is why our spending, debt ceiling, and budget is broken: politicians pander to recipients of entitlements. This is not to ask for more taxes (bigger government) from those least able to contribute. In fact, I support abolition of the income tax and the IRS and a return to an original intent of the founders that only those who are net contributors to government coffers or who productively contribute to the economy should have the civil right to vote.
This would squelch the politicians who build careers on their search for "victims" and the devastating infuence that this form of democracy is having on our country.