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Thread: Debt ceiling cost to taxpayers: $1.7 billion

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by irviding View Post
    Hey bro, sorry for the late response. I'm not so active on these forums I just got an email saying the thread was updated, lol.

    Anyway here is the way I see it - yes, tax cuts on the middle class work. Like you said putting money into people's pockets is beneficial. But when you cut taxes on corporations and on the super wealthy, the money gets put into a bank and not spread into the economy. Find me a scholastic source that says otherwise. You can't. That's the thing. Tax cuts are not the answer right now. The problem is that corporations are not hiring people because there is no demand and there is a lack of confidence. That's the problem. Not taxes at a high level. Nor is spending the problem either right now.

    You're right about spending cuts not happening ever though. That's why a balanced budget amendment would be nice. It would keep them in line. But again, a deal should go through ASAP and be poised to take effect in 2013 or 2014, and it should be allotted at least 8 years or so until the balanced budget amendment restrictions have to come into play.
    The one thing that creates demand and confidence quicker than anything else is more money in the pockets of the taxpayers and tax cuts do that. More take home pay means more spendable income and greater demand for products. More demand means more jobs. 25 million unemployed and under employed Americans paying taxes grows govt. revenue. Happens all the time.

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Catch me if you can.

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Catch me if you can.

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by Conservative View Post
    The one thing that creates demand and confidence quicker than anything else is more money in the pockets of the taxpayers and tax cuts do that. More take home pay means more spendable income and greater demand for products. More demand means more jobs. 25 million unemployed and under employed Americans paying taxes grows govt. revenue. Happens all the time.
    Again, very true - but not on the top earners. There is no reason why they (Warren buffet says his tax rate is 17%, less than his own employees) cannot pay a higher tax rate. We've seen it before and we'll see it again. Cutting taxes on top earners does nothing to stimulate an economy. It's never happened before. Would raising taxes on EVERYONE in this environment be counterproductive? Sure - Clinton did it during a time of economic stability, and we saw the economy grow at unprecedented rates. The idea that a little higher taxes on the super rich hurts an economy is far fetched and not proven in reality. The talking point "well, those are the JOB CREATORS" sounds good, but it doesn't play out in reality.

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    Re: Debt ceiling cost to taxpayers: $1.7 billion

    Quote Originally Posted by irviding View Post
    Again, very true - but not on the top earners. There is no reason why they (Warren buffet says his tax rate is 17%, less than his own employees) cannot pay a higher tax rate. We've seen it before and we'll see it again. Cutting taxes on top earners does nothing to stimulate an economy. It's never happened before. Would raising taxes on EVERYONE in this environment be counterproductive? Sure - Clinton did it during a time of economic stability, and we saw the economy grow at unprecedented rates. The idea that a little higher taxes on the super rich hurts an economy is far fetched and not proven in reality. The talking point "well, those are the JOB CREATORS" sounds good, but it doesn't play out in reality.
    Why is it that rich people that want to pay higher never actually send in more money than they owe? Someone needs to explain to me how raising taxes on anyone is going to put 25 million unemployed or under Employed Americans back to work?

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