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. #31
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    Re: Tax cuts or balance budget

    Quote Originally Posted by StillBallin75 View Post
    Are we talking state level or federal level??
    Oh, sorry. I mean my state, Louisiana. Every year expenses must not exeed income.

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    Re: Tax cuts or balance budget

    Balanced budget of course, anyone who says tax cuts at this point is just delusional. What I've found from all these debates is that most people screaming for Bush's tax cuts were not the ones who benefited from it. The ones who believe that Obama "raised their taxes" in fact got a tax break from Obama. People delude themselves into thinking they are somehow in the top 1% of the population that earns more than $250k per year. They almost never do. They're lying to themselves and to others, just like "Joe the Plumber."

    We actually need to raise taxes to pay off the debt, plain and simple. Spending needs to be cut IN HALF or more, and stay that way permanently.

  3. #33
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    Re: Tax cuts or balance budget

    Quote Originally Posted by March View Post
    Balanced budget of course, anyone who says tax cuts at this point is just delusional. What I've found from all these debates is that most people screaming for Bush's tax cuts were not the ones who benefited from it. The ones who believe that Obama "raised their taxes" in fact got a tax break from Obama. People delude themselves into thinking they are somehow in the top 1% of the population that earns more than $250k per year. They almost never do. They're lying to themselves and to others, just like "Joe the Plumber."

    We actually need to raise taxes to pay off the debt, plain and simple. Spending needs to be cut IN HALF or more, and stay that way permanently.
    If we increase the GDP that will increase tax revenue. Raising tax rates is not the only way to increse revenue. If an increase in tax rates hurts our GDP then we're not gaining.

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    Re: Tax cuts or balance budget

    Why on Earth would the GDP increase due to Bush's tax cuts?

  5. #35
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    Re: Tax cuts or balance budget

    Quote Originally Posted by March View Post
    Why on Earth would the GDP increase due to Bush's tax cuts?
    Well what if cutting taxes sparked higher productivity and output? - Higher GDP. Tax revenue is going to be about 18% of GDP so that's where they put their focus. If higher tax rates increased the GDP somehow then that's what would happen.

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    Re: Tax cuts or balance budget

    I just don't see how Bush's tax cuts lead to "higher productivity and output." All I saw was disasterous malinvestment and the pending collapse of our economic system. This idea that cutting the taxes of the superwealthy somehow causes them to invest the money back into the country is a myth -- that never happened. I'd like to see some evidence that the Bush tax cuts did absolutely anything useful for our economy in the first place. Otherwise, they should have been made to expire.

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    Re: Tax cuts or balance budget

    Quote Originally Posted by March View Post
    Why on Earth would the GDP increase due to Bush's tax cuts?
    GDP increased in large part due to housing price increases and being able to re-mortgage.
    PeteEU

  8. #38
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    Re: Tax cuts or balance budget

    Quote Originally Posted by March View Post
    I just don't see how Bush's tax cuts lead to "higher productivity and output." All I saw was disasterous malinvestment and the pending collapse of our economic system. This idea that cutting the taxes of the superwealthy somehow causes them to invest the money back into the country is a myth -- that never happened. I'd like to see some evidence that the Bush tax cuts did absolutely anything useful for our economy in the first place. Otherwise, they should have been made to expire.
    If people have to pay fewer taxes it can spur them to invest more and be more productive. Our tax revenues increased as a result of the tax cuts. 2004 brought in more than 2003. 2005 more than 2004. We spent a whole lot of money on wars which added to our deficit. Our tax revenues are really up to our economy more than anything.

  9. #39
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    Re: Tax cuts or balance budget

    Quote Originally Posted by sazerac View Post
    If people have to pay fewer taxes it can spur them to invest more and be more productive. Our tax revenues increased as a result of the tax cuts. 2004 brought in more than 2003. 2005 more than 2004. We spent a whole lot of money on wars which added to our deficit. Our tax revenues are really up to our economy more than anything.
    GDP & Tax, on average, has a history of increasing year to year no matter what the tax policy is. Why is Bush's tax policy special when it likely would have happened anyway?

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    Re: Tax cuts or balance budget

    Quote Originally Posted by megaprogman View Post
    GDP & Tax, on average, has a history of increasing year to year no matter what the tax policy is. Why is Bush's tax policy special when it likely would have happened anyway?
    What's special is that he pushed the cuts and that it increased revenues. More revenue came in than otherwise would have. Tax revenues stay more constant than always increasing. As a percentage.

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