Last edited by Telecaster; 11-29-09 at 01:59 PM.
Have you not heard " one cannot secrete blood from a stone".
These rich crybabies should leave their ivory towers and mix with the people, they may learn something!.
What is proposed is nothing more than rolling back Bush's tax cut for the wealthy - which should never have happened.
You rich are damn lucky its not me..in charge.
90% tax on the rich....like the way it used to be, but with tighter loopholes.
Obama is being kind.
From 1970-2008 the US government spending as a percentage of GDP has remained and fluctuated within 30-37%. From 2008-present the percentage has increased considerebly to around 45%. On the contrary, the U.S. debt as a percentage of GDP only increased during the periods of 1981-1995 (increase of 35% over this period) and 2001-present (increase of 33%).
It seems only until very recently (like this year) the increase in debt could really be attributed to an increase in spending, the other years the debt increased seems to follow time periods after tax cuts took place. Therefore I would conclude an increase in spending has not been the most considerable cause to an increasing debt, but rather a decrease in tax revenues over at least the past 40 years.
Last edited by drz-400; 11-29-09 at 05:09 PM.