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I'm WELL AWARE that the GOP (at least the leadership) is already backtracking on their promise never to raise taxes. I'm also aware of the fact that until Obama won re-election they had NO INTENTION of giving in on that issue. "The GOP smart"? - LOL, no - more like "backed into a corner" - but view it however you want. The fact is the GOP will knuckle under on taxes because they HAVE NO OTHER CHOICE. IF we go off the fiscal cliff taxes go up ANYWAY so there is NO WAY the GOP can stop it. It's AUTOMATIC. That's not a "strategic move" on the part of the GOP.
That's JUST accepting REALITY.
Ken
We just had the biggest financial disaster/swindle in the history of the world and the Republicans nominate the head of Bain Capital, a finance guy. Its the usual debt loading, corporate raider.
Its like nominating Grand Moff Tarkin for president of New Alderaan.
If Republicans were not trying to throw this election then they are idiots beyond all comprehension.
87 billion of a 1,000,000,000,000 deficit is 8.7%... not exactly a small number.
1. It is a $1.2 trillion deficit
2. We would still add $1.1 trillion in debt every year
Wake up- If America wants to avoid fiscal insolvency (or just trash the world bond market and use a few of Obama's $10 trillion coins- he will need about six of them), there needs to be MEANINGFUL increases in revenue and MEANINGFUL CUTS. We just added a new multi-trillion dollar entitlement with Obamacare, just when the nation was already on its knees. I prefer that Obama keeps on spending, as it brings the end of the US closer and closer; it appears as though we would be better off to break up and start all over again. In this regard, Obama is a dream come true for conservatives.
15% VAT tax
Cut business taxes to 5%
Constitutional balanced budget amendment
20% across the board cuts in spending
10% of annual revunes earmarked for debt reduction
There you go- problem solved. The cuts in corporate taxes would balance off many additional costs from a VAT to business. Of course, there would be a brief period of reduced spending, but as Europe has shown, this does not last long.
Higher taxes on the wealthy are estimated to bring in an additional $82 Billion annually. Since liberals are hell-bent on seeing this tax increase come to fruition, how do they intend to raise the other $1,000,000,000,000 in deficit for Fiscal Year 2013 and beyond?
Even more important, do liberals understand why the argument for higher income taxes on those making $250K and above is wholly and completely irrelevant compared to the outstanding trillion dollar deficit?
$82B is enough money to pay the interest on the national debt for 8 days.
Does this even register? Or are you just happy that Barack Obama won the election and everything else is irrelevant?
Dude, get a clue. It has nothing to do with dealing with the deficit. It's purely a blind hatred of earned success, and a psychopathic desire to punish those that have worked harder, smarter and accomplished more with their lives.
it's a false premise. cutting the deficit in a recession doesn't make sense.
True-
That is why you make only 20% across the board spending cuts and institute a 15% VAT (which eliminates the current deficits at current levels of spending). Couple that with a marked corporate tax cut and it markedly reduces the economic impact on business.
The continued "excuse" among liberals about spending cuts means that never comes the day, as there is NEVER a good time for spending cuts- ask any liberal. It is like ignoring an arterial bleeder until the patient has nearly bled to death.
We are in a recession and will continue to be in a recession as long as policy continues to create the environment for its perpetuation. We have a president who wants business and personal income tax increases, Obamacare, and increased EPA regulation. It is like spraying a field with "Round Up" and expecting a bumper crop.
If the US wanted an improved economy, they should not have elected an executive who favors policy which kills ecomonic activity. Ironically, the very same Obama supporters will be affected by his policies most, continuing economic misery for the nation. When we are at $22 trillion in debt when he is gone (maybe he will be in there for two or three more terms) it will probably be too late.
That is why you make only 20% across the board spending cuts and institute a 15% VAT (which eliminates the current deficits at current levels of spending). Couple that with a marked corporate tax cut and it markedly reduces the economic impact on business.
This makes no sense.
You say "True" -- as if you agree with me that reducing the deficit isn't a good idea.
And then you pull a 180, and describe a policy that would plunge us into recession by cutting the monetary supply in dramatic sudden fashion.
I don't think you have the foggiest idea what closing the deficit would actually do.
Quote:
The continued "excuse" among liberals about spending cuts means that never comes the day, as there is NEVER a good time for spending cuts- ask any liberal. It is like ignoring an arterial bleeder until the patient has nearly bled to death.
Republicans signed Medicare Part D into law, and supported expensive unfunded wars, so if you're trying to blame the size of public debt on "liberals" you don't have a leg to stand on.
Quote:
We are in a recession and will continue to be in a recession as long as policy continues to create the environment for its perpetuation. We have a president who wants business and personal income tax increases, Obamacare, and increased EPA regulation. It is like spraying a field with "Round Up" and expecting a bumper crop.
If the US wanted an improved economy, they should not have elected an executive who favors policy which kills ecomonic activity. Ironically, the very same Obama supporters will be affected by his policies most, continuing economic misery for the nation. When we are at $22 trillion in debt when he is gone (maybe he will be in there for two or three more terms) it will probably be too late.
We just had the biggest financial disaster/swindle in the history of the world and the Republicans nominate the head of Bain Capital, a finance guy. Its the usual debt loading, corporate raider.
Its like nominating Grand Moff Tarkin for president of New Alderaan.
If Republicans were not trying to throw this election then they are idiots beyond all comprehension.
Simplistic but a good point made.
Nice Star Wars reference.
Easy - true liberals don't actually care about the debt or deficit. The are certainly Democrats who care about it, but the true-believer liberals (i.e. Krugman) genuinely don't see either issue as a problem.
We just had the biggest financial disaster/swindle in the history of the world and the Republicans nominate the head of Bain Capital, a finance guy. Its the usual debt loading, corporate raider.
Its like nominating Grand Moff Tarkin for president of New Alderaan.
If Republicans were not trying to throw this election then they are idiots beyond all comprehension.
There is nothing in Romney's past to indicate he is a dishonest man, or a corporate raider, if there were the dems would have dug it up, or at least ran dishonest campaign ads and lied about it.
Meanwhile Obama continues to be the biggest crony capitalist in the nation's history, and you voted to reelect him? Talk about fear of a president raiding the treasury to benefit his friends and cronies?
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