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Most Republicans don't want to raise taxes; most Democrats don't want to cut spending. The result is a stalemate on how to put America back in the black.
It's actually pretty simple, if you raise taxes to bring in more revenue it will undoubtedly get spent on something other than debt because this is Washington DC we're talking about here. If you cut spending, and I mean really cut spending then you lower the debt.
It's actually pretty simple, if you raise taxes to bring in more revenue it will undoubtedly get spent on something other than debt because this is Washington DC we're talking about here. If you cut spending, and I mean really cut spending then you lower the debt.
Not true.
Congress can always allocate increased tax revenue for a specific goal (debt repayment).
Its called a "lock box".
You can't cut enough government to pay off the debt.
Sure, go to a Flat or Consumption Tax and we will have the money we need, but I still think some cuts are needed, our government wastes far too much money.
Casper
its impossible to pay off the debt with an increase in taxes
you could tax the rich at 100% and you would only increase the revenue by about 800 billion...we currentyly have a 1.6 TRILLION dollar ANNUAL deficit. adding to a nearly 15 trillion dollar total debt
Congress can always allocate increased tax revenue for a specific goal (debt repayment).
Its called a "lock box".
You can't cut enough government to pay off the debt.
Impossible.
Anything Congress can allocate they can also steal, look at SS for example. You can cut enough gov. spending over time to pay off the dept, it's only impossible if you don't want to cut anything that might upset people who rely on that gov. check every month.
Sure, go to a Flat or Consumption Tax and we will have the money we need, but I still think some cuts are needed, our government wastes far too much money.
Casper
Then why do liberals fight things like flat taxes or consumption taxes?
small tax increases + Small spending cuts = success
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