View Poll Results: What is (are) the best way(s) to eliminate the deficit?

Voters
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  • A balanced budget amendment

    24 24.74%
  • A line item veto amenndment

    17 17.53%
  • replace income tx with a national retail sales tax

    10 10.31%
  • Raise taxes on the rich

    40 41.24%
  • Raise taxes on the middle-class

    7 7.22%
  • Raise taxes stealthily in the form of fees, a federal lottery, etc.

    4 4.12%
  • Nationalize oil and natural gas on federal land and get into the enegry business like Saudi Arabia

    11 11.34%
  • Cut federal spending

    66 68.04%
  • Sell services to prizate industry at a profit, privatize then tax them

    4 4.12%
  • other

    26 26.80%
Multiple Choice Poll.
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Thread: What's the best way to reduce the deficit?

  1. #81
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    Re: What's the best way to reduce the deficit?

    The best way to reduce the deficit in the short to mid term is either to exploit the ocean of energy lying at our feet, or to kill all of the baby boomers. Your choice.

  2. #82
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by Smeagol View Post
    I would support the Tea Party a lot more if they pushed for a constitutional amendment for replacing the income tax with a national retail sales tax and giving the POTUS the line item veto as opposed to their drive for a balanced budget amendment.

    What do you think are the best ways to eliminate the deficit?
    The worst thing you could do to our consumer economy is to tax spending. We need to tax income NOT spent if we are to grow the economy and not shrink GDP by taking away money that people would otherwise spend. The more progressive the tax structure is the faster our economy can grow.

  3. #83
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by digsbe View Post
    Spending cuts need to be the largest factor, we are spending far too much and it isn't sustainable. Tax increases would be foolish in my opinion. I would support eliminating some tax loopholes, but not increasing taxes on anyone (especially during an economic downturn). First and foremost though, there needs to be drastic spending cuts.
    Why would raising taxes on the top brackets effect spending or growth even in a downturn? The wealthy spend all they want regardless of tax rates. The more we tax them the more they make anyway.

  4. #84
    User sweEt Mauritius's Avatar
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by digsbe View Post
    Spending cuts need to be the largest factor, we are spending far too much and it isn't sustainable. Tax increases would be foolish in my opinion. I would support eliminating some tax loopholes, but not increasing taxes on anyone (especially during an economic downturn). First and foremost though, there needs to be drastic spending cuts.
    I agree that tax increases on the low- and middle-income would be disastrous, but why do you think raising taxes on people making hundreds of thousands of dollars a year or more would be foolish? They've had these tax rates for a decade and guess what, the "job creation" from these wealthy "job creators" hasn't materialized. Even before the recession, the economy under the Bush tax cuts for the wealthy was not booming.

    To me, cutting spending and raising taxes on the wealthy go hand-in-hand for deficit reduction. Why do you think Bill Clinton's presidency ended in huge budget surpluses? The people who can afford to pay more taxes should pay more taxes than they are now in my opinion.

  5. #85
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by sweEt Mauritius View Post
    I agree that tax increases on the low- and middle-income would be disastrous, but why do you think raising taxes on people making hundreds of thousands of dollars a year or more would be foolish?
    1. Raising nominal rates on upper income earners will not produce more revenue
    2. It will increase the amount of time, energy, and resources that upper income earners spend minimizing their tax exposure which
    3. Means that it will also decrease the amount of time, energy, and resources that they put into being productive.


    The people who can afford to pay more taxes should pay more taxes than they are now in my opinion.
    Then you need to start taxing the middle class. Which is more likely to actually get you increased revenue, anyway.

  6. #86
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by iguanaman View Post
    The worst thing you could do to our consumer economy is to tax spending. We need to tax income NOT spent if we are to grow the economy and not shrink GDP by taking away money that people would otherwise spend. The more progressive the tax structure is the faster our economy can grow.

    explain how the income tax distinguishes between income not spent versus income spent

  7. #87
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by iguanaman View Post
    The worst thing you could do to our consumer economy is to tax spending.
    Actually that would be one of the best things to do if you wanted solid growth rather than a series of bubbles. No nation has ever consumed it's way into prosperity - you produce your way into prosperity.

    The more progressive the tax structure is the faster our economy can grow.
    The United States currently has the most progressive income tax structure in the modern world.

  8. #88
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    Re: What's the best way to reduce the deficit?

    You left something off: Tax newly legalized services. Sexual freedom should be legalized, meaning if someone wants to pay for sexual services, he should be able to. That should be regulated and taxed. If someone wants to consume marijuana or Psilocybin mushrooms for medicinal or recreational use, he should be allowed to. Again, regulate and tax it.

    I would also put a 99% tax on all corporate bribery -- I mean donations -- of political campaigns. Of course, they might just quit donating if the tax were that high. FINE WITH ME!

    There should be cuts, but not of Social Security, Medicare, food stamps, or education. We should END the war on drugs that would save money on wasted enforcement. Also give amnesty to people convicted of non-violent drug offenses and let them out of prison -- less money spend on prisons. Withdraw all troops from Afghanistan immediately -- more money saved.

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    Re: What's the best way to reduce the deficit?

    Remove capital gains tax. The single biggest mistake ever. All income should be taxed as income not "capital gains".

    Means test many deductions or remove.

    Cut waste in military and security spending. Includes cutting a branch of the military.

    Cut waste in over all government spending... aka pork projects.

    Means test SS. Ron Paul does not need SS...

    Tackle the private healthcare cartel to reduce over all costs in healthcare which will effect Medicaid and care. Single biggest problem in the US at the moment.

    But all this wont happen because of the money involved in the political process to maintain the status quo.
    Last edited by PeteEU; 07-15-12 at 05:30 AM.
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  10. #90
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by Karl View Post
    We both know it would not be a big help, but I'm sure it felt good to get that off your ideological chest


    Do you think that moves like these by the federal Government send a message to business people that the Feds are there to help them or to punish them? Everything the Federal government does that affects any business sends a message to all businesses.

    What message id this administration sending to those who live "behind enemy lines"?

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