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Originally Posted by Schneed10
Poor thinking for a number of reasons:
- Tax revenue is only part of the story when it comes to deficits, the other big one being spending. The onus is now on the Republican-led congress to propose spending reductions to bring spending in line with tax revenue and balance the budget. And in turn, the onus will then be on Obama to approve them, or come up with some other way to balance the budget, or he'll be labeled as a spender.
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Cut the fcking crap, we both know they're not going to make a dent on the budget or the deficit anytime soon with any of their proposals. You can bet your ass the debt ceiling will be raised again to pay this pile of shit.
Quote:
Originally Posted by Schneed10
- The whole point of keeping taxes low for the rich is to spur investment and economic growth. As more people get hired and more businesses grow, the more tax revenue the government will bring in. Rising tides raise all boats. Tax revenue isn't just about the rate at which income is taxed, it's also about the number of people and business that have an income to tax.
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It worked wonders the last ten years, no reason to believe it won't work in the next ten years. Let's not forget taxes were higher during the Clinton era, no reason to believe we would be worse off if we raised taxes on those making over 250K. If you don't own a boat, well, tough shit...buy a swimming board.
Quote:
Originally Posted by Schneed10
If you get unemployment down from 10% to 5%, you just increased the number of taxpayers by 5%. Growing the economy in a sustainable manner (ie not through one-time stimulus) is key to balancing the budget.
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Revenue vs expenditure...5% increase low earners aren't going get you any revenue. Higher corporate tax rates and estate taxes will though but of course we can't touch those rates because they create jobs.
Punt! :vomit: