Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb
The problem is that this $447b is proposed revenue from 2012-2021. The spending is proposed 2012-2014. Until the revenue is collected we will have to borrow to enable the spending. And what if these revenues do not materialize?Originally Posted by Catawba;1059918647A 5% surtax on millionaire's as proposed by Senate Democrats would generate an additional $447 billion dollars.
It's too late. That money is not going to make any difference now. It will just encourage more people to leave rather than see their money going down some federal sinkhole.It took 30 years to accumulate our massive debt. $540 billion dollars x 30 years = $16.2 trillion dollars. And that's without the spending cuts that need to be made for the military industrial complex, and in health care costs.
It doesn't matter. You're still looking for fault rather than looking to the future. Lashing out, blaming this person or that, this partyor that. It's too late. It doesn't matter anymore.By contrast, how much were the spending cuts by the GOP on public radio?
The rich don't have enough money to get the country out of this massive debt but even if they did, unless attitudes change, the US will just go back in debt again. They simply cannot carry their weight.Who are you talking about suffering from eliminating some of the tax breaks for the rich?
EDIT: First, you claimed that the only way the fed generated revenue was through taxes from the private sector. I reminded you that there are other ways the government makes money, i.e., via the sell of bonds and other financial instuments.
Second, you claimed government employees don't pay taxes. My own experience proves you wrong there.
Third, you questioned whose tax policies where costing the country. I reminded you we're still under the Bush tax cut policies (as extended by Pres. Obama).
And before you say it, I also corrected myself concerning Clinton raising taxes.
So, yes, I know what my points were. Problem is, you'll continue to deny your claims.
Last edited by Objective Voice; 10-31-11 at 04:56 PM.
They don't. They simply give part of their salary back to their employer. Call what you want, but that's not, "tax revenue". That would be like me charging my employees a fee to work at my company and then calling it profit.Second, you claimed government employees don't pay taxes. My own experience proves you wrong there.
I never said that, either. But hey, spin it how you want, I reckon.Third, you questioned whose tax policies where costing the country. I reminded you we're still under the Bush tax cut policies (as extended by Pres. Obama).
[QUOTE=Grant;1059920278]NOT QUITE, the Solyndra loan was $535 MILLION...not billion
No. That's just what Barrack Obama spent on one useless solar company. Why would you want to take money earned by other people in order that Barrack Obama, someone with no business experience whatsoever, can use it as venture capital to buy useless stock that the smart money won't touch?