- Joined
- Dec 15, 2009
- Messages
- 335
- Reaction score
- 174
- Location
- Wisconsin
- Gender
- Male
- Political Leaning
- Conservative
It is very easy to show how the tax cuts for the top earners have increased the debt, multiple studies have shown that the Bush tax cuts were responsible for at least $1.6T in reduced revenues (increases in the debt) from '01 to '11, over 25% of that due to the reductions on the top 2% of earners. Over $42B in reduced revenues from the top 2% for 2013. Pew and the CBO estimate that eliminating the tax cut for the top 2% will result in a loss of $1.1T in revenue over the next decade.
We are talking about a paltry 4.6% MARGINAL tax increase on income over $250K upon a part of the population that has seen the largest increases in income. They won't feel it, it will have next to no negative effect on the economy.
It is not entitlements that have caused the increases to debt (on the contrary, FICA has been a cash cow), it has been tax cuts, unfunded wars and the recession.
Are you kidding me?
You act as if its the governments money to begin with & they're just letting us keep some of it. Obama added 1 trillion dollars to the baseline budget which has now been spent every year since he's been in office. The thought that tax cuts some how caused the problem is ridiculous. The tax increase O'marxist wants will only pay for his bloated government for 8 days, how does this solve anything except forcing employers to lay off more people & reduce or not give out raises? Doesnt matter though cause O'marxist wants the fiscal cliff to come anyway.
So a 35% (with local & state around 50% in some states) Fed tax rate is not enough for you, what is.... maybe 75% like France? Hows that working for them as the upper class flees the country.
Anti liberty Dem socialists.... keep your filthy money grabbing hands out of my pocket and earn it yourselves......