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I disagree with this.
I am interested in why he extended tax cuts to the filthy rich, though.
That makes absolutely no sense. He should rescind that immediately.
What makes absolutely no sense, is how people can continue to repeat the lies that its a tax cut for the rich, almost as if they dont understand elementary math.
Anyone who thinks tax hikes will eliminate the public debt is delusional. When is the last time tax increases actually went to debt reduction instead of ever more spending?
Maybe you should reread the post you replied to, it said "anyone who thinks spending cuts ALONE will eliminate the public debt is delusional."
Anyone who thinks tax hikes will eliminate the public debt is delusional. When is the last time tax increases actually went to debt reduction instead of ever more spending?
Tax hikes alone won't do it either. It'll take a combination of spending cuts and increased taxes, but nobody from either party is willing to do what actually needs to be done. They'd rather throw up smoke and mirrors to give the impression of doing something, such as Clinton's supposed surplus and the current Republican's claim of "cutting" spending by $38 billion. Neither are true, yet we still rise up and call them blessed because we don't understand economics. And, they know that!
Of course, it should go without saying that totally paying off the national debt would not only ruin our economy, but ruin our money supply too. We have a fiat currency, which most of the world also has, and our money literally has no value if it's not loaned to someone.
Clinton. His tax plan was wildly successful and led the country to the best economy in history. Returning the tax plan back to the very successful Clinton plan like it was suppose to would cut back the deficit by epic proportions.
Now, is this the budget he put out 2 weeks ago that went over about as well as a fart in church or is this a NEW budget he put together to address the real leadership of this country, Boehner and Ryan?
Tax hikes alone won't do it either. It'll take a combination of spending cuts and increased taxes, but nobody from either party is willing to do what actually needs to be done. They'd rather throw up smoke and mirrors to give the impression of doing something, such as Clinton's supposed surplus and the current Republican's claim of "cutting" spending by $38 billion. Neither are true, yet we still rise up and call them blessed because we don't understand economics. And, they know that!
Of course, it should go without saying that totally paying off the national debt would not only ruin our economy, but ruin our money supply too. We have a fiat currency, which most of the world also has, and our money literally has no value if it's not loaned to someone.
A truer statement has never been made, we are all delusional if we think either party is willing to tackle the deficit, they will both talk big but when it comes down to the nut-cutting noone will do it, they will come up with some crazy butt reason why they didn't.
Clinton. His tax plan was wildly successful and led the country to the best economy in history. Returning the tax plan back to the very successful Clinton plan like it was suppose to would cut back the deficit by epic proportions.
I agree, the capital gains tax reform was pretty successful. But really, "epic proportions?" The OMB predicts that, on an inflation-adjusted basis, government revenues will return to latter-Clinton-era levels by the 2012 fiscal year -- and the projected deficit is still over one trillion dollars. If the Clinton-era revenues and expenditures is your model, I'm right with you. And we're nearly there on the revenue side. Now if we can just bring the spending side down to where it was during the Clinton administration... now that would "cut back the deficit by epic proportions."
I agree, the capital gains tax reform was pretty successful. But really, "epic proportions?" The OMB predicts that, on an inflation-adjusted basis, government revenues will return to Clinton-era levels by the 2012 fiscal year -- and the projected deficit is still over one trillion dollars. If the Clinton-era revenues and expenditures is your model, I'm right with you. And we're nearly there on the revenue side. Now if we can just bring the spending side down to where it was during the Clinton administration... now that would "cut back the deficit by epic proportions."
Yes we do need massive spending cuts as well, and the #1 porkbarrel spending is defense. Boehner and the right have made it clear they will not cut a penny from defense, they even want more defense spending. All the right are doing is making pointless cuts mainly to democrat programs in an attempt to "rally the base". If the right were truly serious they would return the tax rates to the clinton plan as it was suppose to, or go with the Obama plan of everyone over 250,000 a year plus massive defense spending cuts.
Yes we do need massive spending cuts as well, and the #1 porkbarrel spending is defense. Boehner and the right have made it clear they will not cut a penny from defense, they even want more defense spending. All the right are doing is making pointless cuts mainly to democrat programs in an attempt to "rally the base". If the right were truly serious they would return the tax rates to the clinton plan as it was suppose to, or go with the Obama plan of everyone over 250,000 a year plus massive defense spending cuts.
If you think "Boehner and the right have made it clear they will not cut a penny from defense," well, then you just haven't been paying very much attention.
Tax hikes alone won't do it either. It'll take a combination of spending cuts and increased taxes, but nobody from either party is willing to do what actually needs to be done. They'd rather throw up smoke and mirrors to give the impression of doing something, such as Clinton's supposed surplus and the current Republican's claim of "cutting" spending by $38 billion. Neither are true, yet we still rise up and call them blessed because we don't understand economics. And, they know that!
Of course, it should go without saying that totally paying off the national debt would not only ruin our economy, but ruin our money supply too. We have a fiat currency, which most of the world also has, and our money literally has no value if it's not loaned to someone.
You've got it backwards. Our money isn't being loaned to anyone. It's being borrowed from people and foreign governments like China.
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spending is SOLEY responsible for deficits
