Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
A very good example of slight-of-hand argument -- just use nominal amounts not taking into account inflation or population growth.
....
But inflation does matter and so does population growth, which both inflates revenues but also inflates government costs.
But when looking at revenue as a p% of GDP, we see the problem:
Had the federal government have the same revenue as a p% of GDP that existed prior to the Bush tax-cuts, 2013 revenue would be $3.3 trillion, not $2.7 trillion, and that would make the deficit only about $200 billion.
Yeah at this point, taxing people or enterprises with large cash hoards who refuse to spend or invest looks more agreeable to me now. The race to hoard the most cash has little social benefit. There is no reason to tolerate such a destabilizing hoard. The rest of the economy would like to continue its normal communication between buyer and seller.
Income tax revenue is not the problem anyway, we only get about $1 trillion a year, and 0bama borrows more then that each year. So even if he doubled all income taxes, he'd still spend even more.
OK lets talk dollars and good sense. Do you want to shrink the money supply in the goods and services economy? Just as simple yes or no. Give me a bottom line.
Yes it is being propped up with gvt over spending and then borrowing and there will be a day of reckoning in the future anyway. Which is better real economic activity driving the money supply or gvt spending/borrowing? I say real economic activity. Will there be economic slow down with gvt cuts ,yes. Will that cause deflation,yes.
When one is drowning in 100 ft of water and water level falls 2 feet, that is a 2% decline. One is still dead.
I love it when liberals try to hide reality by "percentage changes". Thanks for the laugh.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
