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The wealthy already pay the lions share of taxes in this country. Personally, I am a fan of fairness towards all citizens. Let's cut spending and reform tax law so that there are no loopholes and everyone pays the same percentage in taxes. Eliminate all current taxes and enact a flat consumption tax. Raising taxes on the people who already pay more taxes than any other group is far from the whole 'equality for all' that America is supposed to be about.
Can you elaborate. I don't understand what you are asking. What does income have to do with national debt?
Debt is spending beyond income. The government already brings in more than enough money. We have enough income. We simply spend too much.
Oh yes the consumption tax. Another give away for the rich. They should not be paying less. Those that have benefitted the most should pay the most. The middle class has no more money.
Oh yes the consumption tax. Another give away for the rich. They should not be paying less. Those that have benefitted the most should pay the most. The middle class has no more money.
They pay the most for Christs sake! Oh wait, you want to talk about percentages.
Face the facts: We have WAY too many people not pulling their own weight.
They pay the most for Christs sake! Oh wait, you want to talk about percentages.
And they also make the most. But if you must work with percentages, make sure you account for EVERY source of income unless you believe that there is no difference between source of income for a family making $30K versus another making living in the millions, just as you assume there not to be, when it comes to evaluating burden.
Oh yes the consumption tax. Another give away for the rich. They should not be paying less. Those that have benefitted the most should pay the most. The middle class has no more money.
How on earth have the rich benefited the most? Can you explain how you came to that conclusion?
And are you seriously saying that you are against equality between all citizens?
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Originally Posted by EinsteinsGhost
Everything about that argument is purely speculation, based on emotions. And this is proven by your subscription to relentless and baseless argument on "cut this, cut that, cut everything". Rational arguments will not ignore a key ingredient, and that is income, when calculating debt. Unfortunately, extreme thinking, that only income is an issue or only spending is an issue, is why we can't work together to arrive at the solution.
How is that speculation? Due to the current budgetary numbers, my argument is sound. A rational argument would say that we should not be a world police (thus cutting military), that a person should be responsible for their own retirement (thus cutting SS, especially given how abysmal it has historically performed compared to the private investment markets), that maintaining health care is the responsibility of an individual person, or at most the state (not the federal government), and that any increase in UI has led to higher unemployment (look at the current trend in America's beveridge curve).
There is absolutely nothing emotional in any way. Cutting those programs, for those reasons, will result in a yearly budgetary surplus.
[quote]Due to the current budgetary numbers, my argument is sound. A rational argument would say that we should not be a world police (thus cutting military), that a person should be responsible for their own retirement (thus cutting SS, especially given how abysmal it has historically performed compared to the private investment markets), that maintaining health care is the responsibility of an individual person, or at most the state (not the federal government), and that any increase in UI has led to higher unemployment (look at the current trend in America's beveridge curve).[quote]
If there is something in this argument of yours, it is that it lacks rationality.
Quote:
There is absolutely nothing emotional in any way. Cutting those programs, for those reasons, will result in a yearly budgetary surplus.
How on earth have the rich benefited the most? Can you explain how you came to that conclusion?
And are you seriously saying that you are against equality between all citizens?
You really don't understand? I figured you were smarter than that. It is percentages. As a percentage of income, the rich consume less, whereas the middle class and the poor use the majority of their income on consumption; therefore, they would be paying more as a percentage of actual income than the wealthy. It would be a regressive tax. Just another giveaway to the rich.
How sad....this further shows how uneducated most Americans are. Financial and economic education in this country is seriously lacking. Statistics like this is why we need to have finance and economics classes in public schools starting at a very young age.
The American way: "Give me my money now, screw the future"
I agree, most people don't know much about economics. If they did, Americans would be for increasing the deficit.
Are you serious? Are you really suggesting that as long as the fed can inflate away debt, debt is not an issue?
wow...
Well, during asset deflation you have collapsing bank credit. The only way to keep the money supply from spiraling into a horrible depression is to add da guberment credit. It is a credit monetary system after all. Deficits is how it creates new money. All our money is debt. Every dollar you have was borrowed from a bank. The banks want the principle and interest back so...
that means only 1 thing, 94% of americans are in la la land.
mr reagan was mistaken. debt is not meaningless. a great man but a rotten economist.
reaganomics is another false teaching.
I agree, most people don't know much about economics. If they did, Americans would be for increasing the deficit.
I assume this was a typo?
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