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No No No taxes are socialism! Why do you like Hitler and hate America?
We didn't get into this mess because we failed to impose enough taxes. Skippy's last budget proposal was to borrow 40% of the money needed. How is that reasonable?
We didn't get into this mess because we failed to impose enough taxes. Skippy's last budget proposal was to borrow 40% of the money needed. How is that reasonable?
Taxes are the lowest they have been since the 1960's. The US taxes the least out of any developed nation. If we cut all discretionary spending, that still wouldn't eliminate the deficit.
Of course they are. Our rich citizens are taxed the least among developed nations and corporations are gaming the system to pay little to no taxes. The US has an outdated and inefficient tax code.
We didn't get into this mess because we failed to impose enough taxes. Skippy's last budget proposal was to borrow 40% of the money needed. How is that reasonable?
Data first, 2010 dollars:
Federal Tax Receipts, 2000: $2.565 Trillion, GDP: $12.5 Trillion
Federal Tax Receipts, 2010: $2.163 Trillion, GDP: $14.5 Trillion
The economy grows by 16% but tax revenue drops by 16%. Would you mind explaining why tax receipts in 2010 was $400 Billion LESS than it was in 2000?
Data first, 2010 dollars:
Federal Tax Receipts, 2000: $2.565 Trillion, GDP: $12.5 Trillion
Federal Tax Receipts, 2010: $2.163 Trillion, GDP: $14.5 Trillion
The economy grows by 16% but tax revenue drops by 16%. Would you mind explaining why tax receipts in 2010 was $400 Billion LESS than it was in 2000?
Because in 2000, we were paying those Clinton tax-rates. It's also because the Republicans insisted that 40% of the stimulus package had to be tax-cuts -- then they complain about the deficit.
Bottom line: You can't keep cutting taxes and then whine that the government runs deficits.
Of course they are. Our rich citizens are taxed the least among developed nations and corporations are gaming the system to pay little to no taxes. The US has an outdated and inefficient tax code.
That's not what you said. You said US taxes are the least of the developed nations.
It's mostly the tax cuts, but another big factor is unemployment which was 4.0 in 2000 and 9.6 in 2010.
But GDP was still higher in 2010 than 2001 but the tax receipts were lower. In other words, if the same tax as p% was applied, tax receipts would be much higher.
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