View Poll Results: What is more important?

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  • A balanced budget (no growth in debt)

    53 86.89%
  • Tax cuts

    8 13.11%
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Thread: Tax cuts or balance budget

  1. #151
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    Re: Tax cuts or balance budget

    Quote Originally Posted by ender1 View Post
    Whats interesting is that almost everyone wants a balanced budget over tax cuts but all we have are tax cuts and no real chance for a balanced budget without higher taxes.
    until most people get zapped with higher taxes every time the government spends recklessly, the malignancy will continue. Taxing the rich more will only encourage vote buying of the many by dem politicians



  2. #152
    warrior of the wetlands
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    Re: Tax cuts or balance budget

    Quote Originally Posted by Catawba View Post
    I've never made more than $50,000 annually and not having a mortgage interest deduction would have been a hardship on me.





    Yes, that is what health care reform was about.

    in other words you aren't paying your share of the federal government yet you spend much of your time on this board whining that those of us who pay more taxes in a quarter than what you earn in a year need to pay more



  3. #153
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    Re: Tax cuts or balance budget

    Quote Originally Posted by TurtleDude View Post
    in other words you aren't paying your share of the federal government yet you spend much of your time on this board whining that those of us who pay more taxes in a quarter than what you earn in a year need to pay more
    I thought you would show up soon to brag about how superior you think you are.
    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

  4. #154
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    Re: Tax cuts or balance budget

    Quote Originally Posted by reefedjib View Post
    **********, ************.

    I like the improvement in your posting!
    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

  5. #155
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    Re: Tax cuts or balance budget

    Quote Originally Posted by Kandahar View Post
    That depends what you consider a dramatic swing in tax revenues
    from 91% to 35%. yeah, i'd call that a dramatic swing; and yet tax revenue as a percentage of GDP didn't budge.

    No, we aren't going to double tax revenues, but that isn't the point
    as a percentage of GDP, we are unlikely to even budget it by more than 1/18th.

    Even if we can increase the tax revenue by 1% of GDP, that's $150 billion. Nothing to sneeze at.
    correct. now, looking back at the historical data i've provided, tell me; what has been the best path to produce that resut?

    Since we're currently collecting about 16% of our GDP in taxes, if we could just get that back to the historical average of 19% by raising taxes, that gives us an extra half trillion, which would solve approximately 1/3 of the current deficit.
    not to quibble, but even 19 would be a little above the historical norm. but if we want to get back to that then we need to reduce government expenditures and maintain lower tax rates. tax simplification would probably help, too.

  6. #156
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    Re: Tax cuts or balance budget

    Quote Originally Posted by Catawba View Post
    What Madoff did was illegal. SS is not.
    only because it's the government doing it. anyone else would go to jail for running a ponzi scheme.

  7. #157
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    Re: Tax cuts or balance budget

    Quote Originally Posted by cpwill View Post
    from 91% to 35%. yeah, i'd call that a dramatic swing; and yet tax revenue as a percentage of GDP didn't budge.
    The tax revenue has fluctuated by several percentage points over the years, which translates to hundreds of billions of dollars.

    Quote Originally Posted by cpwill
    as a percentage of GDP, we are unlikely to even budget it by more than 1/18th.
    Our tax revenue has been as low as 15% of GDP (last year) or as high as 21% of GDP. The difference between the two, in dollar amounts, is huge. Why do you think it can't move more than 1/18%?

    Quote Originally Posted by cpwill
    correct. now, looking back at the historical data i've provided, tell me; what has been the best path to produce that resut?


    The best path to produce higher revenues...hmm. Well, it looks to me like the biggest jump coincided with Clinton's tax hikes, and the biggest drop coincided with Bush's tax cuts.

    Quote Originally Posted by cpwill
    not to quibble, but even 19 would be a little above the historical norm. but if we want to get back to that then we need to reduce government expenditures
    Government expenditures have increased every year since 1965 yet, going back to the chart again, tax revenues have stayed in the 15-21% band. So what makes you think that reducing expenditures will generate revenue? Even from a theoretical perspective...why would it?

    Quote Originally Posted by cpwill
    and maintain lower tax rates.
    There is no evidence that lower tax rates will generate revenue, and plenty of evidence to the contrary.

    Quote Originally Posted by cpwill
    tax simplification would probably help, too.
    I agree.
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  8. #158
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    Re: Tax cuts or balance budget

    Quote Originally Posted by Catawba View Post
    I thought you would show up soon to brag about how superior you think you are.

    your reading skills need work. I am not necessarily superior to someone who makes less as a person. However, as a tax payer I am certainly superior to you and I tire of slackers demanding we who already pay to subsidize the sloth of others are told we need to pay even more



  9. #159
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    Re: Tax cuts or balance budget

    Quote Originally Posted by TurtleDude View Post
    your reading skills need work. I am not necessarily superior to someone who makes less as a person. However, as a tax payer I am certainly superior to you and I tire of slackers demanding we who already pay to subsidize the sloth of others are told we need to pay even more
    I'm not sure what you do for a living, but wealth in general is impossible to accumulate without government protectionism of some form or another. You can't make money "in spite" of economic policy and law, unless you are a criminal.
    Last edited by Morality Games; 03-31-11 at 07:53 PM.
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  10. #160
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    Re: Tax cuts or balance budget

    Quote Originally Posted by Morality Games View Post
    I'm not sure what you do for a living, but wealth in general is impossible to accumulate without government protectionism of some form or another. You can't make money "in spite" of economic policy and law, unless you are a criminal.
    that is not responsive. the government doesn't give me any extra benefits. and rich people have other means of protecting their wealth. Like taking out a contract on someone who rips them off. a few years ago some hacker seriously F-d up some company's data base. the company found the kid before the FBI did--garroted. last I heard the FBI couldn't prove who did the piano wire job on that hacker but no one ever hacked that company again



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