View Poll Results: Do we have a spending or revenue problem when it comes to the debt?

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  • Spending problem

    21 55.26%
  • Revenue problem

    0 0%
  • Mostly its a spending problem and some its a revenue problem

    8 21.05%
  • Mostly its a revenue problem and some its a spending problem

    5 13.16%
  • other

    4 10.53%
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Thread: Do we have a spending or revenue problem when it comes to the debt?

  1. #11
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    Re: Do we have a spending or revenue problem when it comes to the debt?

    Quote Originally Posted by jamesrage View Post
    Do we have a spending or revenue problem when it comes to the debt?
    All votes are public so not cheating.

    Spending problem
    Revenue problem
    Mostly its a spending problem and some its a revenue problem
    Mostly its a revenue problem and some its a spending problem
    other.



    I say its a spending problem and I believe raising taxes would only encourage the government to spend more. Every unnecessary program cut, overlapping agencies should be gotten rid of and we should make cuts to as many things as possible. Raising taxes should be the last thing done and avoided at all costs.
    Well considering that under Clinton and a Republican house, we were able to cut the deficit in a meaningful way, have higher taxes than we do now, have a budget surplus, and a massive economical expansion I see no problem with doing what Obama wants to now, and that is to phase out certain tax credits and close up loopholes. How will that hurt jobs or demand? I'll give you a great example of how it wouldn't. We used to have a $2000-3000 hybrid tax credit that got phased out, where were you when that went away? Well Toyota still has a hard time keeping up with the demand for Prius, so much so that the end of this year they begin building the Prius and hybrid Camry in Mississippi. Imagine that!

    Anyways do that, phase out the bush tax cuts for the rich and once the unemployment is down to 5% and the dollar is up again phase them out for the middle class as well.

    In the meantime besides phasing out tax credits and closing loopholes, each part of the government from the military to social services needs to be thoroughly examined, kept just as efficient (If not more) by finding better contracts with private companies (ie military contracts) and other areas. Perfect example is the IRS is saving quite a bit of money as their systems become more computerized, and they are far more efficient than ever before. As long as all services the government provides to its people stay just as good if not better, then cut away.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

  2. #12
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    Re: Do we have a spending or revenue problem when it comes to the debt?

    Quote Originally Posted by roughdraft274 View Post
    Both. We have record low tax rates and record high spending. I doubt we can fix the problem without an increase of taxes and a reduction in spending.
    You got the problem 100 % right. However, I think we can fix things without increasing taxes.
    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

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  3. #13
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    Re: Do we have a spending or revenue problem when it comes to the debt?

    Quote Originally Posted by roughdraft274 View Post
    Both. We have record low tax rates and record high spending. I doubt we can fix the problem without an increase of taxes and a reduction in spending.
    100% correct

  4. #14
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    Re: Do we have a spending or revenue problem when it comes to the debt?

    Quote Originally Posted by Badmutha View Post
    100% a Spending problem........

    ........and a "Republicans only want to spend more" problem.........
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    Fixed that for you.. Now your statement is accurate.. Just remember it was a democrat that left Bush a budget surplus.. It was a republican that that spent that surplus to a deficit.. Not to mention cut taxes, which did nothing..

    If you want people to take you seriously.. You would be wise to not look for every opportunity to bash liberals.. Especially when clearly you are wrong.. It isn't democratic spending that put us here.. It is republicans spending.. Try to remember that..
    Last edited by DemonMyst; 07-12-11 at 05:53 PM.

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    Re: Do we have a spending or revenue problem when it comes to the debt?

    Quote Originally Posted by Redress View Post
    You got the problem 100 % right. However, I think we can fix things without increasing taxes.
    The Bush tax cuts need to go.. Call it raising taxes or whatever.. They need to expire.. That is $320 billion a year we don't have.. Nearly a third of the deficit is those tax cuts..

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    Re: Do we have a spending or revenue problem when it comes to the debt?

    Quote Originally Posted by DemonMyst View Post
    Fixed that for you.. Now your statement is accurate.. Just remember it was a democrat that left Bush a budget surplus.. It was a republican that that spent that surplus to a deficit.. Not to mention cut taxes, which did nothing..
    Not that I don't agree with your statement, each of the two years with a surplus it was that year we had a surplus, meaning we still had a lot of debt, just we had a surplus that could have been applied to bring it down. I often wonder what the US would be like had the Bush tax cuts not have been applied and we would have not gone into Iraqi. What would be going on right now? A big "what if?" eh?
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: Do we have a spending or revenue problem when it comes to the debt?

    Quote Originally Posted by DemonMyst View Post
    The Bush tax cuts need to go.. Call it raising taxes or whatever.. They need to expire.. That is $320 billion a year we don't have.. Nearly a third of the deficit is those tax cuts..
    Also this is actually only when you consider taxing people at pre-Bush era that are making $250k or more. If the middle class Bush tax cuts were phased out it would be almost 700 billion.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: Do we have a spending or revenue problem when it comes to the debt?

    The majority of it is a spending problem. If we're going to solve it in any reasonable length of time though, we're going to have to raise more revenue.
    If you build a man a fire, he'll be warm for a day.

    If you set a man on fire, he'll be warm for the rest of his life.

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    Re: Do we have a spending or revenue problem when it comes to the debt?

    what revenue problem we have is the result of our spending problem. revenues came in reliably at around their historical average for 60 years until we dramatically increased the size of government relative to GDP. then, well, whattya know, it turns out the government doesn't tax itself quite like it taxes labor, production, and investment, and revenues fell relative to GDP.


    both our revenue and our spending problems can be solved by reducing the size and scope of government, along with some fairly basic tax reforms in the manner proposed by the Presidents' Bi Partisan Debt Reduction Commission.

  10. #20
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    Re: Do we have a spending or revenue problem when it comes to the debt?

    Quote Originally Posted by cpwill View Post
    what revenue problem we have is the result of our spending problem. revenues came in reliably at around their historical average for 60 years until we dramatically increased the size of government relative to GDP. then, well, whattya know, it turns out the government doesn't tax itself quite like it taxes labor, production, and investment, and revenues fell relative to GDP.


    both our revenue and our spending problems can be solved by reducing the size and scope of government, along with some fairly basic tax reforms in the manner proposed by the Presidents' Bi Partisan Debt Reduction Commission.
    That is all fine and good, however in order to keep taxes where they are now and have no yearly debt we would have to not only drastically downsize entitlement programs, we would have to drastically downsize infrastructure spending, and the military. This can be counteracted by gradually progressing the tax code, loopholes, and such.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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