AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.
First of all, can we have a link to the original article. It is hard to comprehend something when it's just quotes selectively stripped out of an article. Secondly, lot of the public speeches from both sides are mere political moves, what they really talk about in private no one really knows, and they probably will never say. My guess is, during the talks, each side will cry foul on the other and try to push blame to other side to gain public support and political leverage during this negotiation. Look at Clinton years where they actually had a shutdown. They eventually got things patched up.
On a personal level, I think whenever we have a deficit, it means there has to be some tax collected to repay the money owed. He at this point is talking about closing tax loophole, meaning just collecting tax that should be paid but not. So he's not even talking about raising taxes. Besides, look at Reagan, look at Clinton, both ended up raising taxes to cover the deficit. Raising taxes should only be used when you have a deficit meaning the tax collected is less than money spent by the government. So you need to pay taxes equal to the amount your government spent. How can you spent money and pay nothing, who is going to pay it? the next generation? I mean the government shouldn't collect more taxes than needed to cover expense, but it needs to collect the exact amount to cover expense not a penny less or it becomes irresponsible. Or we can do it the Ron Paul way, just cut social programs, SS, military etc. each cut 1/2 budget problem solved, and you pay less taxes.
You know the time is right to take control, we gotta take offense against the status quo
Originally Posted by A. de Tocqueville
I based my opinion partly on the comment you made regarding unions. Unions (historically speaking) were a major factor in the creation of the middle class.
The other part is your focus on business owners. If they are making over $250,000 in profit (profit is after all costs have been addressed and accounted for) you are in no danger of having your business fail due to a 3% increase in personal taxation. Those additional taxes will be much more helpful for the rest of the country through entitlement programs, education, infrastructure and research into new technologies to improve America. You are much more value than the business owner's 3% in profit taxation and the smart business owner is very much aware of that... you should be aware of that as well.
Fighting for the business owner to keep 3% of their profits for fear they'll fire people just doesn't make sense when the nation itself hangs in the balance.
You don't sacrifice benefits for the 98% for the benefit of just the 2%. That's simply illogical.
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