I am rapidly approaching the point at which I will become responsible for my own living and that of a family of my own, and at that threshold I will inherit the future I looked forward to and prepared for as a child and adolescent. For this I am quite excited and hopeful, but so too am I fearful. I am fearful because my future and the future of my generation is in jeopardy, and with all respect and humility, some of the policies you proposed and supported as a candidate will only increase that peril.
Our country is in a very dangerous moment economically, and as you prepare to assume the presidency in a few months you are no doubt aware of this. How you and the rest of our leaders act in this time (in all levels of government) will determine how America meets and answers these challenges, whether we tackle and solve them or whether we are consumed by them.
In regards to young Americans such as myself, the job market we are soon to enter will be severely harmed should you and the Congress agree to raise taxes on Americans anywhere on the income scale. Taking capital out of the economy at a time when it is already suffering from a lack thereof will reduce business and investment even further, leaving us with fewer jobs and opportunities and higher costs of living. Diminishing free trade with the global community will only aggravate this. As new entrants into the workforce, such a troubled state of affairs would burden young Americans immensely, highly reducing our chances for success and prosperity as we begin to build lives of our own.
Specifically, on the campaign trail you often derided loopholes in the tax code that gave breaks to large corporations such as oil companies. I think you and I can both agree that all taxpaying Americans should pay their fair share under our tax code, but I fervently urge you to refrain from raising taxes on corporations and businesses because, very simply, they do not pay them. An increased tax burden will cause business either to leave our shores for cheaper locales or they will pass their increased costs down to average Americans through job layoffs and/or higher costs for their goods and services. The little people and not big business will, for all intents and purposes, pay for the increases.
Our future is also threatened by the leviathan of debt accrued from years of extravagant spending. This constitutes a crippling obligation incurred by current and past generations that will have to be paid by ours. After decades of short-sighted and mindless appropriation it is time the government put its financial house in order.
The source of much of this debt are entitlement programs that are lavishly expensive and will soon lapse into insolvency if allowed to continue on their current path. If this were to occur Americans would face the unfathomable choice of massive tax increases and/or cuts in benefits. Either choice or a combination of both would be ruinous, and so federal entitlements are in dire need of comprehensive reform. However your programmatic proposals would do quite the opposite, adding more unaffordable entitlements on top of the ones we already cannot afford. This will only hasten the day we face the painful choices mentioned above and increase the severity of the pain on their arrival.
Mr. president-elect, I sincerely commend you for your historic victory and I wish you the very best as the next president of the country you and I love. Your success will be mine and every American’s success, so I will hope and pray for your good fortune as our republic’s chief executive.
But with this said the fact remains that there are many points in your agenda that I cannot in good conscience support, and I regretfully believe that their enactment would have a number of adverse effects on our economy and on our future. I fervently urge you to reconsider them and adopt measures that will grow our economy, reduce our debt, and reform entitlements for the 21st Century. Doing so will strengthen and secure the future for myself and for all Americans.
With the Sincerest Best Wishes,
Geoff Smock
Geoff Smock
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