polgara
DP Veteran
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Re: Forensic Analysis: Planned Parenthood Videos Are ‘Authentic’
Who decided that the wealthy should have tax cuts at this point, and what is the amount that determines "wealthy? It seems that our politicians are being a bit self-serving, since many are among the wealthy they want to "help." While I agree that the wealthy are already paying the lion's share of taxes, probably because they have more money than anyone else to pay taxes on - who's going to make up the difference? The working people who are already struggling from paycheck to paycheck, making less than $35,000 a year in seven out of 10 jobs in this country, or those who don't have jobs at all and need assistance to even buy food, let alone pay taxes? Our debt of $18.4 trillion dollars is already over 104 percent of GDP, and when the Fed raises the interest rate, which they will, our interest payments will take up more and more of the taxes collected. Why is it so difficult to cut government spending - we all know there's waste that can be eliminated! Talk about that first, not as an after-thought! We need to cut spending!
I agree with you there. But your distinction between debt and deficits is a little strained, IMHO. Deficits exacerbate the debt, surpluses ameliorate it. They aren't exactly apples and oranges. So my point was that in our lifetimes we've seen examples of slashing taxes on the rich, and raising taxes on the rich (the rich, after all, pay a large portion of the taxes). Politicians who did the former presided over exploding deficits (thus increasing the debt) while politicians who presided over the latter saw shrinking deficits and even surpluses.
So in November 2016 I just hope you remember this history, and keep in mind who is promising massive tax cuts (Republicans) and who isn't.
Who decided that the wealthy should have tax cuts at this point, and what is the amount that determines "wealthy? It seems that our politicians are being a bit self-serving, since many are among the wealthy they want to "help." While I agree that the wealthy are already paying the lion's share of taxes, probably because they have more money than anyone else to pay taxes on - who's going to make up the difference? The working people who are already struggling from paycheck to paycheck, making less than $35,000 a year in seven out of 10 jobs in this country, or those who don't have jobs at all and need assistance to even buy food, let alone pay taxes? Our debt of $18.4 trillion dollars is already over 104 percent of GDP, and when the Fed raises the interest rate, which they will, our interest payments will take up more and more of the taxes collected. Why is it so difficult to cut government spending - we all know there's waste that can be eliminated! Talk about that first, not as an after-thought! We need to cut spending!