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Thread: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by ttwtt78640 View Post
    Everyone that thinks that simply raising federal taxation, from 17% of GDP to 18% of GDP, will "fix" the federal defict ignores the fact that the federal gov't now spends 24% of GDP and that spending is headed sharply up as more boomers retire and PPACA kicks in.
    But we at least are going in the right direction. We need to end the Republican idea that deficits don't matter if they come from tax cuts.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    You can't talk cuts or increases without a base line. Show me a working budget, then we can talk adjustments. Without one there is nothing to talk about, it's a waste of time to even try.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by ttwtt78640 View Post
    Just what, in our Constitution, allows for the federal gov't to simply take property from private citizens and "pay themselves back" for money borrowed and spent?
    Don't blame me. It was a Republicans idea. The one who cut taxes on the wealthy way back in the 80's, he now believes he made a huge mistake and the wealth tax is the only way to fix it. But David Stockton is a Republican and he is obssesed with the debt that the low tax rates ran up. Do you agree with him that we need to pay off the debt?

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by iguanaman View Post
    But we at least are going in the right direction. We need to end the Republican idea that deficits don't matter if they come from tax cuts.
    My post clearly points out that federal spending increased by 20% under Obama, that is not a federal revenue problem. Obama wants to fully fund about 8 days of gov't spending and to increase federal spending.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by iguanaman View Post
    Don't blame me. It was a Republicans idea. The one who cut taxes on the wealthy way back in the 80's, he now believes he made a huge mistake and the wealth tax is the only way to fix it. But David Stockton is a Republican and he is obssesed with the debt that the low tax rates ran up. Do you agree with him that we need to pay off the debt?
    Yes, but by decreasing the massive federal spending and letting GDP growth raise the revenue "naturally". Start by cutting out DOEd, foreign aid, crony capitalism, PPACA and decreasing crippling regulations, military spending and social welfare (income redistribution) programs. Entitlement reform is a must as well, but that can wait until we get a real president.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by ttwtt78640 View Post
    Yes, but by decreasing the massive federal spending and letting GDP growth raise the revenue "naturally". Start by cutting out DOEd, foreign aid, crony capitalism, PPACA and decreasing crippling regulations, military spending and social welfare (income redistribution) programs. Entitlement reform is a must as well, but that can wait until we get a real president.
    Name me one industrialized nation that runs their Govt. on revenue of less than 15% of GDP. These low tax rates are unsustainable.

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by iguanaman View Post
    Name me one industrialized nation that runs their Govt. on revenue of less than 15% of GDP. These low tax rates are unsustainable.
    You omit state, county and city taxes and the fact that Obama has decreased federal revenue by creating the SS "contribution holiday" (yet more borrowing from future generations). Many spend far less than 35% of GDP, yet have far higher standards of living to show for it. Name me one industrialized nation that spends even half of our "defense" budget as % of GDP.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by TurtleDude View Post
    so the middle class never would have happened unless the idiotic 16th amendment was passed
    Or the 17th Amendment. Bill Whittle describes what happened here.

    THE END OF THE BEGINNING - YouTube

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by j-mac View Post
    Financial woe, and extended threat of collapse is exactly what he wants. He, and his disciples hate the wealthy, they think it is unfair that free people succeed at their own rate, and path. And the cynical thing is that Obama, and his progressive allies in congress, know full well what Emmanuel let slip early on, and that is the canard about not letting a good crisis go to waste....In that vein, he will not only call everything a crisis, but extend that which is critical to invent more crisis' in order to rule like a dictator.

    I sure hope America comes to it's senses and finds a way to remove this mans power, and these progressives from office.
    You might like this guy. He really gets it. Bill Whittle: Why we need an army of serious people » The Right Scoop -

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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by ttwtt78640 View Post
    You omit state, county and city taxes and the fact that Obama has decreased federal revenue by creating the SS "contribution holiday" (yet more borrowing from future generations). Many spend far less than 35% of GDP, yet have far higher standards of living to show for it. Name me one industrialized nation that spends even half of our "defense" budget as % of GDP.
    You wont' hear me argue that we don't greatly over spend on defense. But a modern nation needs to collect a minimum of 18 to 20% of GDP to pay their bills. We need to stop believing that deficits don't matter if they come from tax cuts.

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