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Funny how the experts here know the difference between effective and marginal rates when corporations are involved but will still foam at the mouth that they pay a higher rate than Romney. Just an observation.
Funny how the experts here know the difference between effective and marginal rates when corporations are involved but will still foam at the mouth that they pay a higher rate than Romney. Just an observation.
The issue is not 'knowing the difference.' The issue is an objection to the tax policy that lets a multimillionaire pay a lower rate than a bus driver -- as Ronald Reagan said.
What do you think more taxes will get you..you personally ?
You give the government more money they will find something to spend it on. Maybe increase "foreign spending".
How does that help the US ?
Higher taxes on corporations/individuals is not going to put America back to where it was.
Emerging nations have caught up to us in skill and labor and are out competing us.
We have a government that is not good at accounting for where the money goes.
What do you think more taxes will get you..you personally ?
You give the government more money they will find something to spend it on. Maybe increase "foreign spending".
How does that help the US ?
Higher taxes on corporations/individuals is not going to put America back to where it was.
Emerging nations have caught up to us in skill and labor and are out competing us.
We have a government that is not good at accounting for where the money goes.
That's another one of those zombie lies -- that if taxes were higher, the government would just spend more. As all zombie lies, they're not true. Taxes have gone up and down over the decades but taxes as a percent of GDP has been relatively stable at 18-22% of GDP -- mostly changing because of the denominator, GDP.
That's another one of those zombie lies -- that if taxes were higher, the government would just spend more. As all zombie lies, they're not true. Taxes have gone up and down over the decades but taxes as a percent of GDP has been relatively stable at 18-22% of GDP -- mostly changing because of the denominator, GDP.
We have raised the debt ceiling several times now because the revenue isn't there and we keep spending.
We have raised the debt ceiling several times now because the revenue isn't there and we keep spending.
You acknowledge that there isn't enough revenue but you still maintain that we shouldn't go back to the Clinton rates that balanced the budget -- which appears to be an internal contradiction.
The debt ceiling needs to be raised periodically because revenue is too low and refusing to tax the areas that have the most money sure doesn't help.
If you think spending is the problem, here is the NY Times tax puzzle. Go figure out what must be cut without raising taxes. Please note that we can cut all discretionary spending and still run a deficit.
You acknowledge that there isn't enough revenue but you still maintain that we shouldn't go back to the Clinton rates that balanced the budget -- which appears to be an internal contradiction.
The debt ceiling needs to be raised periodically because revenue is too low and refusing to tax the areas that have the most money sure doesn't help.
I never said that. What I said is that the government will just take those increased taxes and spend it somewhere else. That is what our government has done. In the case of SS, they spent it twice.
Now I would support increased taxes only if there was an amendment for a balanced budget.
States have it and so should the FedGov. If anything that might light a fire under them to account for the money and clean up the fraud, corruption and waste.
The FedGov today has no incentive to do that. They either collect more taxes or borrow more money.
I never said that. What I said is that the government will just take those increased taxes and spend it somewhere else. That is what our government has done. In the case of SS, they spent it twice.
Now I would support increased taxes only if there was an amendment for a balanced budget.
States have it and so should the FedGov. If anything that might light a fire under them to account for the money and clean up the fraud, corruption and waste.
The FedGov today has no incentive to do that. They either collect more taxes or borrow more money.
As I have shown above, the government spends roughly the same level of GDP regardless of tax-rates, so the premise is false.
The detraction of a balanced budget amendment is that there are times when running deficits is necessary. If there was a balanced budget amendment in the 1940s we'd all be speaking German now, if we were speaking at all. The balanced budget amendment also eliminates a powerful economic tool for fighting recessions and depressions -- and actually makes both worse, as it would require the government to cut spending in a depression just when people need more government services. Quite Hooveresque.
As I have shown above, the government spends roughly the same level of GDP regardless of tax-rates, so the premise is false.
The detraction of a balanced budget amendment is that there are times when running deficits is necessary. If there was a balanced budget amendment in the 1940s we'd all be speaking German now, if we were speaking at all. The balanced budget amendment also eliminates a powerful economic tool for fighting recessions and depressions -- and actually makes both worse, as it would require the government to cut spending in a depression just when people need more government services. Quite Hooveresque.
Well this isn't 1940. And there can always be extenuating circumstances, like in times of war.
But this is 2012 and that's all we do..spend more than we take in.
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