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Liberals, who never seem to understand that we have a spending problem, not a revenue problem, should probably evaluate the above information. Never in the 20th century (or 21st) have politicians used any increased revenue to reduce the debt.
Incorrect.
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The last five Democratic Presidents, Clinton, Carter, LBJ, JFK, and Truman all reduced the debt, and ... the last four Republican Presidents, GW Bush, GHW Bush, Reagan, and Ford all oversaw an increase in the country’s indebtedness.
In 1993, when President Clinton pushed his budget through Congress (with no Republican votes, and with Vice President Gore breaking a tie in the Senate), the tax rate for the top bracket was increased from 31% to 39.6%. At the time, the federal deficit stood at $240 billion (in 1983 dollars). In President Clinton's last year in office, the deficit was $10 billion (in 1983 dollars). Then George Bush was elected, and the deficit started to climb.
He's got it in his head that if he screams loud enough that the middle class must except having their benefits cuts so that the rich can keep their Clinton tax cuts that he'll persuade people.
It's funny considering that he lives on a limited income. ....It's like they worship they rich.
I've never understood folks who are so steadfast in thwarting their own self interest. It makes you question their sanity.
Frankly, the graph, which I will continue to post early and often, clearly and abundantly illustrates where the bulk of the deficit comes from.
I wager there will be secret slush funds to appease DC like was found in the Defense Bill.
Congress will not give up funding their pet projects.
Whatever.
Funding on education now are later is chicken feed compared to the bloated military budget and the money that could be gained from restoring the raises in taxes on the rich a few basis points.
That's were the money is....right wingers can moan all they want about some pissant programs for the poor....they don't amount to squat.
The "spending problem" we have in this country comes from two wars, the Bush tax cuts, and spending by the federal government specifically designed to help the economy (stimulus, auto bailouts, etc.). The other half of the equation is the sharp drop in federal revenue.
Stop the wars and the Bush tax cuts.
Wrong.. Tax bill in 2009 lowest level because the economy is at the lowest level. Spending, has nothing to do with tax bills, they are unrelated. The Bush tax cuts did NOT increase the deficit. Revenues remained relatively THE SAME. The ONLY WAY to increase revenues is to broaden the tax base, or broaden the economy.. If you disagree with me, take it up with the Obama debt commission who also says the same.
Quote:
Originally Posted by ovcatto
I've never understood folks who are so steadfast in thwarting their own self interest. It makes you question their sanity.
Frankly, the graph, which I will continue to post early and often, clearly and abundantly illustrates where the bulk of the deficit comes from.
Frankly the graph is wrong.. Almost laughable. Revenues remain rather consistant, about 18.5% of the GDP regardless of the tax rate.
Do you realize how many lies and B.S they would try and get away with here if you didn't post that?
They're shameless.
Yeah, if only we lived in a static economy, then the link you keep providing, would hold some value.. As it is, we're a dynamic society, and I laugh at your link everytime you post it.
"Now Dems go meet Obama on budget..new revenue is the answer
Fools at the helm.
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