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Thread: Senate says 'no' to federal debt commission Obama endorsed

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Goldenboy219 View Post
    But why the tax cuts? An even better question is why the tax cuts on those who are less than likely to "spend"? A tax cut for the middle class would have been optimal, as consumption makes up nearly 70% of the economy.
    10% of the population pays 50% of the taxes. Your cry for the "middle class" would carry some weight if our tax system wasn't so screwed up.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by RightinNYC View Post
    I think his point is that neither extreme works, so we have to reach a middleground that balances individual interests with the need for revenue and economic growth.

    Neither a 99% tax nor a 1% tax would raise much money.
    A 1% tax wouldn't raise much money for the government, but it would free up a large amount of capital for the private sector, which is the driving force of our economy. I'm not saying I support a 1% tax rate but we need to understand how beneficial they are for private businesses and individuals. The answer isn't half taxes and half spending cuts, as some would suggest, rather, it should be substantial spending cuts coupled with healthy tax cuts and a relaxing of onerous regulations.

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Kandahar View Post
    Then how is Sweden able to afford such an expansive social safety net, whereas we are not? It's not through higher levels of deficit spending (Sweden's debt-to-GDP ratio is about the same as ours) and it's certainly not through lower taxes.
    They're military spending as a percentage of GDP is about three percent less than ours, and that's not including expenditures on the VA, Homeland Security, or NASA.

    I've always wondered why conservatives are so adamantly opposed to social programs if they truly believe that tax cuts generate more tax revenue than they cost. If this something-for-nothing mentality was actually true, Republicans could just cut taxes to pay for all of the new spending that the Democrats want. Everyone would be happy.
    Democrats can spend money faster than Americans are able to accumulate it...

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Redress View Post
    Spending is a fiscal concern, no matter what it is for.
    Look, I know you're not stupid, and you don't usually have partisan blinders on, so I don't know what's stopping you from getting this. Look at it this way - you can't question a president's fiscal conservatism based on his military spending because his military spending is not optional, in the sense that fiscal concerns cannot overrule it.

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by MrVicchio View Post
    10% of the population pays 50% of the taxes. Your cry for the "middle class" would carry some weight if our tax system wasn't so screwed up.
    Precisely my point. You cannot pay for a war with tax cuts.... Got it? Your "record revenue" theory has already been addressed because it did not pay for the increased spending (hence a deficit). Kandahar explained it to you

    You see, when you increase government spending, you will necessarily have "crowding out" be it via capital accounts relative to the current account (of which the money flows into sovereign debt markets), or through taxation (which frees up FDI from treasuries). Pick your poison. Although one option does not increase your deficit and does not give other nations power over what our government spends its money on.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Dav View Post
    Look, I know you're not stupid, and you don't usually have partisan blinders on, so I don't know what's stopping you from getting this. Look at it this way - you can't question a president's fiscal conservatism based on his military spending because his military spending is not optional, in the sense that fiscal concerns cannot overrule it.
    Yes you can.... He did not pay for it! Is it fiscally conservative to rack up debt?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Dav View Post
    Look, I know you're not stupid, and you don't usually have partisan blinders on, so I don't know what's stopping you from getting this. Look at it this way - you can't question a president's fiscal conservatism based on his military spending because his military spending is not optional, in the sense that fiscal concerns cannot overrule it.
    The amount to a degree is optional, and if you have to increase spending in one area, you need to lower spending other areas by an equal amount to balance it out, or you are not being fiscally responsible. Just cuz Reagan did it does not make it right, or fiscally appropriate.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Redress View Post
    The amount to a degree is optional, and if you have to increase spending in one area, you need to lower spending other areas by an equal amount to balance it out, or you are not being fiscally responsible. Just cuz Reagan did it does not make it right, or fiscally appropriate.
    So did you miss the part about Reagan cutting domestic spending more than any other president? We're going in circles here.

    And yes, it is to a degree optional, but fiscal concerns never ever play in to which option is taken, and they never have; that is why it's pointless to say that someone is not a fiscal conservative because they spent a lot on the military.

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Dav View Post
    So did you miss the part about Reagan cutting domestic spending more than any other president? We're going in circles here.

    And yes, it is to a degree optional, but fiscal concerns never ever play in to which option is taken, and they never have; that is why it's pointless to say that someone is not a fiscal conservative because they spent a lot on the military.
    He did not cut domestic spending to the degree he raised military spending. He has no claim as a fiscal conservative, since he did not act fiscally conservative.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: Senate says 'no' to federal debt commission Obama endorsed

    Quote Originally Posted by Redress View Post
    He did not cut domestic spending to the degree he raised military spending. He has no claim as a fiscal conservative, since he did not act fiscally conservative.
    "Fiscal conservatives" do not exist. Each time they have run on that platform (and fooled the people into voting for them), they have spent like drunken sailors in a whore house when in power. In fact the Democrats have shown far more fiscal responsibility (Clinton for example) than any Republican president in recent history.
    PeteEU

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