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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 longview View Post
    I think one of the issues is that history has shown us that the taxes do go up,
    but the cuts never seem to materialize.
    Kind of a bait and switch.
    All the GOP has to do is name the cuts they demand, and then push hard for those cuts.
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by longview View Post
    I think one of the issues is that history has shown us that the taxes do go up,
    but the cuts never seem to materialize.
    Kind of a bait and switch.
    Not sure how you missed the last 30 years of tax cuts, that together with increased spending, is where our national debt came from.
    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

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

    Quote Originally Posted by Catawba View Post
    Not sure how you missed the last 30 years of tax cuts, that together with increased spending, is where our national debt came from.
    Sorry for not being clear, I was talking about spending cuts,
    of which many have been promised but few realized.
    And our national debt came from spending too much.

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

    Quote Originally Posted by longview View Post
    Sorry for not being clear, I was talking about spending cuts,
    of which many have been promised but few realized.
    And our national debt came from spending too much.


    You are ignoring one whole side of the ledger and US history. The US never really had a debt to GDP ratio that was bad until, the era of Reaganomics where tax rates were cut drastically for the wealthy and spending was increased drastically. Except for a brief period in the 90's we have continued the policy of Reaganomics.

    As noted, it took 30 years of too small tax rates for the rich and too much spending. It will take 30 years of the opposite to fix the problem.
    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

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

    Quote Originally Posted by Catawba View Post
    You are ignoring one whole side of the ledger and US history. The US never really had a debt to GDP ratio that was bad until, the era of Reaganomics where tax rates were cut drastically for the wealthy and spending was increased drastically. Except for a brief period in the 90's we have continued the policy of Reaganomics.

    As noted, it took 30 years of too small tax rates for the rich and too much spending. It will take 30 years of the opposite to fix the problem.
    Our Government should live within it's means, they are not taxing too little,
    they are spending too much.
    This problem cannot be fixed through tax increases alone, They must cut spending, real cuts, not reductions in planned increases.
    Our real spending problems started in 1968, When both side figured out they could steal from SS and not have to pay it back.
    I am not talking about the bonds, but the surplus SS receipts, which about $3T
    have disappeared.

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

    Quote Originally Posted by longview View Post
    Our Government should live within it's means, they are not taxing too little,
    they are spending too much.
    This problem cannot be fixed through tax increases alone, They must cut spending, real cuts, not reductions in planned increases.
    Our real spending problems started in 1968, When both side figured out they could steal from SS and not have to pay it back.
    I am not talking about the bonds, but the surplus SS receipts, which about $3T
    have disappeared.

    No one has suggested the problem can be fixed through tax increases alone. We need to cut our wasteful military spending. We can no longer afford to spend as mush as the rest of the world combined on the military. I do agree that SS needs to be paid back the $3 trillion dollars it is owed, increase the cap to make it self-sufficient for the long term and lock those funds from general fund use.
    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

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

    Quote Originally Posted by Catawba View Post
    No one has suggested the problem can be fixed through tax increases alone. We need to cut our wasteful military spending. We can no longer afford to spend as mush as the rest of the world combined on the military. I do agree that SS needs to be paid back the $3 trillion dollars it is owed, increase the cap to make it self-sufficient for the long term and lock those funds from general fund use.
    It is not just Military spending that needs to be cut.
    I think we should do an across the board cut.
    Our Federal Government spending is out of control, and needs a big correction.
    As to the $3 T, it is not owed to SS, it is just gone.
    The surplus receipts were used to offset the deficits.

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

    Quote Originally Posted by longview View Post
    It is not just Military spending that needs to be cut.
    I think we should do an across the board cut.
    Our Federal Government spending is out of control, and needs a big correction.
    As to the $3 T, it is not owed to SS, it is just gone.
    The surplus receipts were used to offset the deficits.

    I think we should cut what is most wasteful. And your notion that the money owed to senors through SS treasury notes is just gone is laughable to anyone who understands that conservatives cannot win elections without the support of seniors.
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    Re: No Fiscal Deal Without Higher Tax Rates On Rich, Obama Says

    Quote Originally Posted by Catawba View Post
    Not sure how you missed the last 30 years of tax cuts, that together with increased spending, is where our national debt came from.
    You're history is laughably flawed

    Every time taxes have been cut, (especially Capital Gains) revenue to the Treasury has increased. Even Charlie Gibson made this point during an interview with Obama

    I like Levin's idea. The Republicans should write up legislation right now that cut taxes for the middle class, and leaves tax rates where they are at for the top 2%

    Then they can hand the legislation over to Harry Reid and go take a vacation. Let the Collectivists/Socialists figure it out

    Spending as a % of GDP has increased more than 35% since 2010

    Obama is spending 5.60$ for every real dollar of wealth/GDP created in the private economy

    Obama is borrowing 46 cents for every dollar he spends

    Clinton's budgets = around 1.5T per year. Obama's is 3.8T PER YEAR

    Obama is running yearly trillion dollar deficits going on 5 years in a row

    We have a spending problem. Not a tax problem.

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

    Quote Originally Posted by Bronson View Post
    You're history is laughably flawed

    Every time taxes have been cut, (especially Capital Gains) revenue to the Treasury has increased.
    Then how did Reagan increase the debt more than all the presidents before him combined, if Reaganomics (tax cuts + increased military spending) didn't produce debt?
    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

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