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If we would only declare all those earning more than $250k economic criminals then tax their ill gotten gains at a 100% rate we would bring in an additional $630 billion to the treasury!
Now I am not talking about going easy on these greedy people as I support taxing the first $250k earned at a 100% rate as well taking ALL their money. The greedy people earn $500,000 they should be taxed $500,000!
But there is a flaw, with Obama's budget having a deficit of $1.65 trillion we would still have a $1.02 trillion deficit so maybe we should go further and declare anyone earning more than $100k economic criminals and tax their ill gotten gains at 100% too? Again not just the amount over $100k but tax that first $100k at a 100% tax rate too!
If we did this we could actually balance the budget with a $10 billion surplus!
Imagine, making those evil people pay by making them pay their fair share!
Is this a good idea or what? After all who ever heard of someone with money hiring anyone?
Believe the experts or a few CD random right wing ideologues.
you can keep posting that rubbish all you want, but it doesnt make it anywhere near accurate. the new york times puts out some rubbish static model, and gets the progressives from berkeley to back it, and you then believe that somehow it works, when reality shows that it doesnt.
New taxes is always the democrats answwer. Too bad its not goig to be the answer.At the rate the debt and cost of programs is rising it would be a never ending drain on the economy by raising cpst to where we cannot compete in the world .
Pghquest is correct; the country's economy has never been static, and therfore any attempts by those blockheads in DC, Albany, Sacramento, Boston or other capitals who attempt to project how much additional revenue a proposed tax increase will generate are never even remotely close to the revenue which actually comes in, because tax hikes never result in an increase in revenue for the entity which imposes it.
The mainstream media has never understood economics (kinda like the Democratic Party); if you need confirmation, read Michael Barone's stellar column this week (Stocks, Investing, Business, and Finance News - Investors.com) on why the liberal press preposterously uses the word 'unexpected' (as in 'an unexpected drop in revenue or in automobile sales, or whatever the subject at hand is to cover up their own ignorance in the world of economics.
Economists who write nationally syndicated columns, including folks such as Peter J. Wallison of AEI, Dr. Thomas Sowell, or Walter E. Williams, really know economics, and have the credentials and years of experience to know what they're talking about, as opposed to morons such as Obama, Reid, Pelosi, Dick (I'm the best friend the payday loan industry ever had!) Durbin, and hordes of other economically-illiterate Democrats.
This really isn't difficult to understand. We have a deficit that's growing, and that's a problem. We can all agree on that, right?
Why do we have a deficit? Because the federal government is spending more than it is taking in. We can all agree on that, right?
There are three ways to cut the deficit:
1. Cut spending.
2. Increase revenue.
3. A combination of (1) and (2).
All I hear from the right is the same tired old mantra of "cut spending" and "don't touch taxes." If you want to cut spending and ONLY cut spending to tackle the deficit, substantial cuts in defense must be on the table - end the wars.
The best answer to the problem is (3) - make rational cuts in federal spending, and increase revenue.
Unfunded tax cuts - tax cuts initiated when the federal deficit was already growing each year - must be stopped.
Federal, state and local income taxes consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century.
If tax cuts are supposed to do wonders for the economy, where are the jobs? We have the lowest taxes since the '50s .... but in the '50s, a time of great economic growth, the top marginal federal tax rates for the richest of Americans was up at 90%.
If we would only declare all those earning more than $250k economic criminals then tax their ill gotten gains at a 100% rate we would bring in an additional $630 billion to the treasury!
Now I am not talking about going easy on these greedy people as I support taxing the first $250k earned at a 100% rate as well taking ALL their money. The greedy people earn $500,000 they should be taxed $500,000!
But there is a flaw, with Obama's budget having a deficit of $1.65 trillion we would still have a $1.02 trillion deficit so maybe we should go further and declare anyone earning more than $100k economic criminals and tax their ill gotten gains at 100% too? Again not just the amount over $100k but tax that first $100k at a 100% tax rate too!
If we did this we could actually balance the budget with a $10 billion surplus!
Imagine, making those evil people pay by making them pay their fair share!
Is this a good idea or what? After all who ever heard of someone with money hiring anyone?
//Sarcasm off
and you could only do that taxing ONE time because then they wouldn't have any more money to tax.
the liberals want people to believe that they can tax their way out of this mess, because then it gives them an excuse to confiscate american money and send to foreign lands.
If you think you can cut the deficit by cuts alone, you're delusional.
The deficits were created by spending increases alone. Until you understand this, lets not discuss who's delusional.. Federal spending has DOUBLED over the past 10 years.
The deficits were created by spending increases alone. Until you understand this, lets not discuss who's delusional.. Federal spending has DOUBLED over the past 10 years.
The deficits were created when taxes were cut without spending cuts accompanied. The deficit we have right now largely comes from tax cuts. If we cut all discretionary spending, that would not get rid of our deficit. Debt payments and mandatory spending alone cause us to have a deficit.
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