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Thread: Do You Want Higher Taxes?

  1. #101
    Only Losers H8 Capitalism
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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by Thunder View Post
    how much spending would we have to cut, to get rid of the entire debt in 15 years?

    please consider normal rates of increase for those programs you do not want to cut.
    The 2011 budget is $3.69 trillion, the national debt is 14.5 trillion and the 09 deficit was $1.42 trillion (2010 was no doubt higher.) We would need to cut (the deficit + (14.5 trillion/15years)) which is ~ 2.5 trillion. That's 68% of the budget.

    According to this breakdown we would need to ELIMINATE social security (738 billion), all income security (567 billion), medicare (498 billion), medicaid (381 billion) and gut the budgets of near every other agency and department to make the other 500 billion up. That is assuming zero growth, which isn't likely. More likely than not our national debt ceiling will be increased, as will our debt and then the net interest on the debt. This amount is already almost doubling every year, and would cover 1/2 the 500 billion that would warrant gutting. Until we eliminate the deficit we will borrow more too.

    So IMO the kinds of departments and agencies, like the Department of Education and teacher salary, that grow every year at an unsustainable exponential rate must be also eliminated. Yes I am for eliminating Public Education. I also don't think that so many cuts would be necessary, as I believe the tax revenue from the ensuing prosperity from the government not meddling would offset the growth, but this would be too difficult to quantify.
    Last edited by Spartacus FPV; 07-16-11 at 03:14 PM.
    Haymarket's "support" of the 2nd Amendment, a right he believes we never had.
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  2. #102
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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by ashurbanipal View Post
    There's something you fail to appreciate: sometimes we rightfully punish success and reward failure. For instance, if I am successful at killing a bunch of innocent people, I am punished. If I am unsuccessful, my reward is a much lighter sentence compared to what I would have gotten. Ditto someone who rips a bunch of people off as compared to someone who tries but fails.
    The fact that you have to stretch your argument to include "mass murders" should clearly tell you how insane "Progressive" taxation really is......

    I
    think it's at least the perception of quite a few people that most of the wealthy people in America got their wealth by theft. Which means that they ought to be punished if that supposition is correct (a principle with which you agree, I would assume).
    If they have broken laws......let them be judged.........

    ........but for most liberals..........anyone accumulating wealth via Capitalism is a criminal.

    As for the poll answer: yes, I believe taxes should be raised on the wealthy and corporations. I'm not in the top tax brackets any more, but I used to be, and I supported those policies then, and willingly donated my money.
    So did you send an extra donation to the IRS?

    ......WHY NOT?.........
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  3. #103
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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by Thunder View Post
    can I afford to have my tax-rate increased 3%?

    of course I can!!!

    if it helps the economy improve, I am more than willing to have my rates return to the pre-Bush cuts rate.
    THE IRS accepts donations.......right now......send your check!


    ...and since we are on the subject, how much lower would the natonal debt be, if the Bush-tax cuts never went through?
    Probably even higher..........

    Federal Government Revenue After The Bush Tax Cuts

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  4. #104
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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by Badmutha View Post
    Federal Government Revenue After The Bush Tax Cuts
    ..
    and what would FIT revenue have looked like, without the tax-cuts?

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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by Thunder View Post
    and what would FIT revenue have looked like, without the tax-cuts?
    That includes FIT revenue.........and revenues were at record high.....

    .......thanks for playing.........
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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by Badmutha View Post
    That includes FIT revenue.........and revenues were at record high.....

    .......thanks for playing.......
    and what would the FIT revenue have looked like without the tax cuts?

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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by Thunder View Post
    and what would the FIT revenue have looked like without the tax cuts?
    Not as much........fewer jobs = fewer people paying income tax......taxes were cut and job growth spurred....and the tax pool grew.
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  8. #108
    Disappointed Evolutionist
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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by SPC View Post
    OK. I just had to do this since Obama seems to think that 80% of Americans want higher taxes. Well......let's find out.
    It is wrong for the working class to pay a higher percentage of their income than the rich do, simply because they are rich. It has also helped create our debt problem and placed a greater burden on the working class. Unless we both increase revenues and cut spending our debt will continue to grow. That is why a majority of the country supports the balanced approach of increasing revenues and cutting spending.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  9. #109
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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by MusicAdventurer View Post
    Wow! I didn't realize this .. there must be tax loop holes the wealthy are exploiting.
    No, the wealthy do not have to pay as much tax relative to income as the middle class in the areas of payroll taxes, property taxes, sales taxes, excise taxes etc. Their only worry is income tax.

    The system "loophole" is that the effect of cuts to income tax rates on individual income tax receipts have been masked by increases in payroll taxes such that people would have you believe that the increase in tax revenues was because of the income tax rate adjustments, when the reality is that tax revenues have increased in spite of the income tax rate adjustments.
    Attached Images Attached Images Do You Want Higher Taxes?-numbers_figure-2_what-federal-govt-sources-revenue_1-jpg Do You Want Higher Taxes?-growth-tax-revenue-jpg 

  10. #110
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    Re: Do You Want Higher Taxes?

    Quote Originally Posted by Thunder View Post
    and what would the FIT revenue have looked like without the tax cuts?
    Yep, you get it.... see above.

    Its nice to actually have knowledgeable players playing the game.

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