Quote:
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.
- 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.
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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Right so my only question is A) Has the defecit grown since W took office and passed these tax policy? B) Why didnt this logic already happening over the last decade? This is extention of the tax cuts. This is not new tax policy?
The top 1% getting there continuing fat tax cut was politics pure and simple. Your logic is the same rhetoric given when that policy was initial passed.