Scott Stantis by Scott Stantis

Scott Stantis

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  1. ConserveGov

    ConserveGov said, 8 months ago

    On Oct. 4, the debt held by the public — not including Social Security and Medicare — had risen 89.3 percent since Mr. Obama took office, according to FactCheck.org, a nonprofit project of the Annenberg Public Policy Center of the University of Pennsylvania.
    The administration recently projected an annual deficit of $750 billion in the fiscal year that began Oct. 1 and $626 billion the year after that.
    “At that rate, the debt owed to the public will more than double during the Obama presidency,” FactCheck said in its quarterly statistical report on Mr. Obama’s tenure in office.

    http://p.washingtontimes.com/news/2013/oct/9/obamas-national-debt-rate-on-track-to-double/#ixzz2nFCUmYmZ

  2. Robert Landers

    Robert Landers said, 8 months ago

    Perhaps it might possibly be computed just what slowly climbing out from the second greatest recession the history of this country might just play at least a part in possibly at least some 50% of that increased debt. And strangely enough, I am not one to totally blame the former administration of GW Bush for all of that recession, but his administration does warrant at least some of that blame at best.


    It is going to take a fairly fortunate streak of luck, prudent cuts to government spending, and prudent tax increases to those that can afford such increases, to even bring things down to a zero level deficit, let alone ever even begin to chop away at the actual debt. And that is not going to be totally influenced by even a completely GOP run government, any more than a completely Democrat one. Sorry, but that is the truth of the situation.

  3. narrowminded

    narrowminded said, 8 months ago

    @Robert Landers

    ^Flawed logic. Liberal progressive, shallow thinking based on static reasoning. Economic growth(something liberals despise because people tend to prosper during such times) is more than able to compensate for the current debt and future liabilities. However growing the size of government actually shrinks the economy. Government CAN’T solve this problem other than simply allowing the greatest force for prosperity (unfettered capitalistic free markets) to reign.
    The American people with Government out of the way can easily pay this debt off.

  4. narrowminded

    narrowminded said, 8 months ago

    Taxation

    “Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government.”

    – John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964
    -—————————————
    “It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now … Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”

    – John F. Kennedy, Nov. 20, 1962, president’s news conference
    -———————————————
    “In today’s economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarges the federal deficit – why reducing taxes is the best way open to us to increase revenues.”

    – John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”
    -——————————-
    “It is no contradiction – the most important single thing we can do to stimulate investment in today’s economy is to raise consumption by major reduction of individual income tax rates.”

    – John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”
    -—————————————
    “Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort – thereby aborting our recoveries and stifling our national growth rate.”

    – John F. Kennedy, Jan. 24, 1963, message to Congress on tax reduction and reform, House Doc. 43, 88th Congress, 1st Session.
    -———————————————-
    “A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues.”

    – John F. Kennedy, Sept. 18, 1963, radio and television address to the nation on tax-reduction bill
    Editor’s note: The following quotes are published in the book, “The Interesting History of Income Tax,” by William J. Federer (Amerisearch, Inc., P.O. Box 20163, St. Louis, MO 63123, 1-888-USA-WORD)

    “It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now … Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”

    – John F. Kennedy, Nov. 20, 1962, president’s news conference

    “Lower rates of taxation will stimulate economic activity and so raise the levels of personal and corporate income as to yield within a few years an increased – not a reduced – flow of revenues to the federal government.”

    – John F. Kennedy, Jan. 17, 1963, annual budget message to the Congress, fiscal year 1964
    “In today’s economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarges the federal deficit – why reducing taxes is the best way open to us to increase revenues.”

    – John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”

    “It is no contradiction – the most important single thing we can do to stimulate investment in today’s economy is to raise consumption by major reduction of individual income tax rates.”

    – John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”

    “Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort – thereby aborting our recoveries and stifling our national growth rate.”

    – John F. Kennedy, Jan. 24, 1963, message to Congress on tax reduction and reform, House Doc. 43, 88th Congress, 1st Session.

    “A tax cut means higher family income and higher business profits and a balanced federal budget. Every taxpayer and his family will have more money left over after taxes for a new car, a new home, new conveniences, education and investment. Every businessman can keep a higher percentage of his profits in his cash register or put it to work expanding or improving his business, and as the national income grows, the federal government will ultimately end up with more revenues.”

    – John F. Kennedy, Sept. 18, 1963, radio and television address to the nation on tax-reduction bill

    “I have asked the secretary of the treasury to report by April 1 on whether present tax laws may be stimulating in undue amounts the flow of American capital to the industrial countries abroad through special preferential treatment.”

    – John F. Kennedy, Feb. 6, 1961, message to Congress on gold and the balalnce of payments deficit

    “In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment.”

    – John F. Kennedy, April 20, 1961, message to Congress on taxation

    “Our present tax system … exerts too heavy a drag on growth … It reduces the financial incentives for personal effort, investment, and risk-taking … The present tax load … distorts economic judgments and channels an undue amount of energy into efforts to avoid tax liabilities.”

    – John F. Kennedy, Nov. 20, 1962, press conference

    “The present tax codes … inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions.”

    – John F. Kennedy, Jan. 23, 1963, special message to Congress on tax reduction and reform

    “In short, it is a paradoxical truth that … the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country’s own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.”

    – John F. Kennedy, Nov. 20, 1962, news conference

    “The largest single barrier to full employment of our manpower and resources and to a higher rate of economic growth is the unrealistically heavy drag of federal income taxes on private purchasing power, initiative and incentive.”

    – John F. Kennedy, Jan. 24, 1963, special message to Congress on tax reduction and reform

    “Expansion and modernization of the nation’s productive plant is essential to accelerate economic growth and to improve the international competitive position of American industry … An early stimulus to business investment will promote recovery and increase employment.”

    – John F. Kennedy, Feb. 2, 1961, message on economic recovery

    “We must start now to provide additional stimulus to the modernization of American industrial plants … I shall propose to the Congress a new tax incentive for businesses to expand their normal investment in plant and equipment.”

    – John F. Kennedy, Feb. 13, 1961, National Industrial Conference Board

    “A bill will be presented to the Congress for action next year. It will include an across-the-board, top-to-bottom cut in both corporate and personal income taxes. It will include long-needed tax reform that logic and equity demand … The billions of dollars this bill will place in the hands of the consumer and our businessmen will have both immediate and permanent benefits to our economy. Every dollar released from taxation that is spent or invested will help create a new job and a new salary. And these new jobs and new salaries can create other jobs and other salaries and more customers and more growth for an expanding American economy.”

    – John F. Kennedy, Aug. 13, 1962, radio and television report on the state of the national economy

    “This administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes … Next year’s tax bill should reduce personal as well as corporate income taxes, for those in the lower brackets, who are certain to spend their additional take-home pay, and for those in the middle and upper brackets, who can thereby be encouraged to undertake additional efforts and enabled to invest more capital … I am confident that the enactment of the right bill next year will in due course increase our gross national product by several times the amount of taxes actually cut.”

  5. Clark  Kent

    Clark Kent said, 8 months ago

    @narrowminded:
    JFK cut the tax rates on the very rich from 91% to around 75% but closed most of the loopholes so that the wealthy actually paid more into the US treasury.

  6. Respectful Troll

    Respectful Troll said, 8 months ago

    My compliments to Narrowminded for providing one of the best posts he ever has. While there is some context and content missing, he provides an excellent snapshot of a Democrat trying to improve the economy of the early 1960s.
    I just wish to point out that the head of the International Monetary Fund said last summer that had the US Congress done its job regarding passing legislation, budgets, et al, the world economy would be 4% better than it was at the time of her comments. CEOs last summer said that if Congress would do specific things, the CEOs could start hiring and spending money to invest on corporate infrastructure and innovations.
    We need compassionate conservatives and fiscally responsible liberals to come together to do those things that will make our nation stronger and reunify a people divided by paid media hotheads and politicians who are more loyal to party than country.
    As far as RINOs go… when you hear about the Republicans who are now referred to as, “In Name Only”, it makes one realize that not even Ronald Reagan or Bush Sr could get elected unless more of the moderate right was willing to come forward.
    The party that wins isn’t the one who has the most people who support their views, it’s the ones who has the most supporters come out to vote. If you don’t vote, you are part of the problem, no matter what side you are on.
    Respectfully,
    C.

  7. Michael wme

    Michael wme said, 8 months ago

    @narrowminded

    If you read Prof Krugman’s columns, he occasionally denigrates Laffer, but he really agrees with Laffer’s basic curve: that the tax rate that raises the most revenue is more than 0% and less than 100%, which is all Laffer really said.


    When Kennedy took office, the top rate on unearned income was 91%. The top rate on earned income was 50%. And the top rate on long-term capital gains (most of which were inflation rather than real appreciation) was 45%. This was more than the optimal rate, and when Kennedy lowered rates, tax revenues rose.


    Now, some types of income which are NOT really long-term capital gains are taxed at 15%. And the 15% rate covers a great deal of the total taxable income, since the top 10% have about 50% of total income, and many are eligible for that 15% tax rate.


    Krugman is going against the Tea crowd’s Laffer that says that EVERY tax rate greater than 0% is too high, and revenues will rise whenever we cut rates, so the highest tax revenues will be raised if we cut taxes to 0% on all my income.


    ’Don’t tax you, don’t tax me, tax that fellow behind the tree.’

  8. warjoski

    warjoski GoComics PRO Member said, 8 months ago

    @Respectful Troll

    I agree in principal with you. But here’s my counter: there is no one worth voting for. The two parties are the only ones who can take an election and frankly they both suck. Both are controlled by their fringe elements. Both are more concerned with their particular agendas than doing any good for the entire country. And both are pretty much nothing but Cults of Personality at this point. So really any given election is simply a choice between terrible and awful. Don’t get me wrong. I will vote. But all it really does is keep the two parties in power which is the same thing in my opinion as feeding the infection. So. What do we do about that? Or do you even consider that a real concern? I mean those as honest questions by the way. Thanks.

  9. Respectful Troll

    Respectful Troll said, 8 months ago

    @warjoski

    Great Reply, Warjoski.
    I usually vote for the purposes of keeping the worse of the two evils out of a position of power. I have decided that if I’m invited to the Va. caucuses again next year, I’ll go. At least I can then use my voice to help pick the lesser of evils.
    Short of a national referendum where we get our fellow Americans to petition for election reform, I’m at a loss of how to fight against two parties whose only true bipartisan effort is in keeping themselves in power.
    I really enjoyed your reply and if you can’t tell, I am VERY concerned. Just limited in resources and imagination on what to do next.
    Thanks again.
    Sincerely,
    C.

  10. warjoski

    warjoski GoComics PRO Member said, 8 months ago

    @Respectful Troll

    It’s nice to know there’s someone else in the same boat. Thanks for the reply and good luck at the caucuses.

  11. wbr

    wbr said, 8 months ago

    in 2008 the USA suffered the 7 worst panic in its history and due to gov actions it is still hurting // the 1873 panic which ranks number 2 took 6 years to recover i am afraid this recovery will take longer

  12. dtroutma

    dtroutma GoComics PRO Member said, 8 months ago

    “Private debt” is many times the “federal debt”, and HAS been coming down a little. It’s a result of better controls in the market, and some improvement in the economy. Yes, we need more improvement, but “Reaganomics” created that private debt, and allowing banks to solicit to folks who had nothing, conning them into either credit cards, or houses they couldn’t afford, was THE BANKS, with removal of Glass-Stiegal, NOT “Dodd -Frank”. They took what should have been a better law there, and twisted every chink in the armor that Glass Stiegal would have kept sealed, and DF would have worked to everyone’s benefit.

  13. ConserveGov

    ConserveGov said, 8 months ago

    @parkerfuffle

    I tell them I’m a Junior.

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