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Our government has proven to be the most fiscally irresponsible body on the planet and needs to be cut off. If you had a child who foolishly spent any money provided to them for candy and toys, would you still given them more money?
Giving the feds more money will simply result in more irresponsible spending and will do nothing to reduce the debt. We need to see some fiscal responsibility.
Our government has proven to be the most fiscally irresponsible body on the planet and needs to be cut off. If you had a child who foolishly spent any money provided to them for candy and toys, would you still given them more money?
Giving the feds more money will simply result in more irresponsible spending and will do nothing to reduce the debt. We need to see some fiscal responsibility.
Comparing one of the most complex government structures and national economies in the world to a child buying candy is well, a bad comparison.
If we have a cut in taxes, it should be accompanied by a cut in spending as well.
Comparing one of the most complex government structures and national economies in the world to a child buying candy is well, a bad comparison.
If we have a cut in taxes, it should be accompanied by a cut in spending as well.
I agree- spending cuts are necessary.
Our government is the irresponsible child, however, as they see an endless stream of revenue from the parents and no consequences to irresponsible spending. When there are no consequences, the behavior continues.
I really think that our legislators have become so detached and ingrained into the concept of massive spending that they are incapable of fiscal restraint any longer. The only way to cut spending is to markedly cut fiscal revenues.
Simple question- do you suppose that the government of Argentina spends $2.5 trillion per year? Why not? Well, I would guess that Argentina is not capable of generating such revenue through taxation or borrowing and has therefore had spending more in line with thier revenues. Do they still deficit spend? Of course- they are politicians.
Our government is the irresponsible child, however, as they see an endless stream of revenue from the parents and no consequences to irresponsible spending. When there are no consequences, the behavior continues.
I really think that our legislators have become so detached and ingrained into the concept of massive spending that they are incapable of fiscal restraint any longer. The only way to cut spending is to markedly cut fiscal revenues.
Simple question- do you suppose that the government of Argentina spends $2.5 trillion per year? Why not? Well, I would guess that Argentina is not capable of generating such revenue through taxation or borrowing and has therefore had spending more in line with thier revenues. Do they still deficit spend? Of course- they are politicians.
Starve the pig.
Simply cutting taxes isn't starving the pig, it just puts the pig deeper into debt.
I am tired of this argument. Set up a system to eliminate taxes on any income below 150 k and tax the rest enough to run the government and pay off the debt in 10 years or so.
How much do YOU make a year? I bet its less than 150 k. Where did you come up with 150 k ?
I'm trying to understand why the Repubs didn't take the $1M compromise? Wasn't their argument, they didn't want to punish small businesses making "$250K" a year? Well what "small" business do you know makes over a $1M a year?? More importantly, they were screaming about passing this deficit to our children and grandchildren, yet they are pushing for these fiscal irresponsible policies.
What happened to common sense in this country? Back in the 50s, the marginal tax rate was 90% and now people are up in arms over going from 35% to like 40%, seriously?? You can't have it both ways GOP. Saying you want to fight wars and give tax cuts to millionaires (*cough) I mean "small" businesses and be for more continued tax cuts and scream about the deficit.
Common sense says, millionaires have enough money to spend right now. An extra $100k from tax savings isn't going to matter much when you are bringing in $10M+ a/yr. Now if they really want to get the economy going and consumer spending, give those at the bottom some extra money so they would be more willing to spend more. Speaking from experience these folks incomes have been stagnant for awhile or even cut (and a lot of lost jobs), but you want me to spend to boost the economy? How can I spend if I have no money to spend. Not rocket science people.
The Obama Administration should be ashamed of itself from caving in so quickly. I swear the Democrats have no backbone what so ever.
It's a good point. Logic seems to be missing in the GOP. The 250k limit I think was not the best idea because it hit too many small biz and upper middle class. But $1M+ , that exposed the GOP there. Someone making $10M is going to likely pour that extra few hundred thousand$ (spare cash) into hedge funds or other investments, that will most likely not benefit the US. If it's a hedge fund, it will then invest it globally. How does that help the US? Even worse, what if the hedge fund pushed oil or wheat prices higher as they all seem to be top-heavy investing in commodities and necessities, driving those prices higher.
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