teamosil
DP Veteran
- Joined
- Oct 17, 2009
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Re: Romney's tax rate is only half as high as the middle class pays
Yeah, it was only $400 billion a year. Although that's not as far off the mark as it may seem at first glance. Most budget analysts and economists and whatnot argue that we need to cut between say $600 billion a year and $800 billion a year to balance the budget, not the full $1.4 trillion. As we pull out of the recession revenues automatically go up as more people work and get raises and companies make more profits and whatnot and spending automatically goes down as people roll off unemployment and food stamps and medicaid and whatnot. If we cut somewhere in the $600b to $800b range, we should be back on track within a couple years.
That doesn't mean we can't cut the deficit more than that. Ideally I'd like to be paying down the debt. But, $400b is actually a pretty decisive step in the right direction.
Including ending the wars faster than budgeted is a legitimate savings relative to the budget. When they say we need to cut $600 to $800b they mean relative to the existing budget not relative to current spending necessarily.
And that proposal caught my interest! Unfortunately, I found that it was $4 trillion over ten years meaning only 400 billion a year, which lowers, but does not remove, our deficit. It also included 110 billion a year by moving out of a war that was going to end anyway. Further in, the details didn't thrill me much, either.
However, as I'm not looking for perfect, I won't deny this was at least somewhat of a movement in the right direction.
Yeah, it was only $400 billion a year. Although that's not as far off the mark as it may seem at first glance. Most budget analysts and economists and whatnot argue that we need to cut between say $600 billion a year and $800 billion a year to balance the budget, not the full $1.4 trillion. As we pull out of the recession revenues automatically go up as more people work and get raises and companies make more profits and whatnot and spending automatically goes down as people roll off unemployment and food stamps and medicaid and whatnot. If we cut somewhere in the $600b to $800b range, we should be back on track within a couple years.
That doesn't mean we can't cut the deficit more than that. Ideally I'd like to be paying down the debt. But, $400b is actually a pretty decisive step in the right direction.
Including ending the wars faster than budgeted is a legitimate savings relative to the budget. When they say we need to cut $600 to $800b they mean relative to the existing budget not relative to current spending necessarily.