“…“Cut Entitlements…EXCEPT for mine, of course…”“Raise Taxes…EXCEPT for MY constituents, of course…”And so forth, and so on, Ad Infinitum, Ad Nauseum…” Well Said.
Clay summarizes the perspective very well. Today, the Top 5% pay 60% of IRS collections. US is headed towards having them pay 80% of taxes collected and borrow the rest. .Take a page from the history of Unions muscling Business to the point factories are outsourced overseas and the Union’s children are jobless and Michigan has ghost towns. Push too hard, and the rich will move their tax shelters around and IRS collections will drop like a rock and the National Debt will sky-rocket. Around the corner will be the US $Dollar Devalued.
Part of the solution is an economy that generates more cash flow and more revenue in the process. The point of stimulating the economy is precisely to get to the point where more revenue will come in automatically. Under certain circumstances, more spending will create more revenue. Circumstances change, and what works in one situation won’t work in another. When the economy is in reasonably good shape, then lowering taxes is often a good idea. When the economy is in bad shape, it’s often a good idea to go into debt in order to get things moving. There is no single policy that works all the time. Budgets should be balanced, but not necessarily year by year.
Yes it has. Do you remember what everyone was saying about the state of the economy back before the election in 2008? Did their dire predictions come true? No? Why not? The least you can say is that the stimulus did not make the situation worse, and I think it’s reasonable to say that it helped. Perhaps a bigger stimulus would have helped more.
“There aren’t social assistance services for the rich – "[]I guess that depends upon one’s definition of “social assistance services”! Does that include tax breaks for the oil companies? Does it include subsidies for big pharma? Does it include farm subsidies for those who do not grow certain crops?[]I’m Just Curious – but it seems to me that a lot of public monies are channeled to those who are rich and really don’t need it.[]??
“Increasing the Capital Gains Tax will punish Middle Class Retirees who are drawing income from their pensions, 401K’s, and IRA’s, as all of this income is from capital gains on their investments.”-EASILY resolved by including a means test. -So, anything up to say, 100,000, taxed at 20%. Anything between 100,000 and 250,000, taxed at 25%. Anything over 250,000 becomes ordinary income — and subject to SSI and Medicare taxes as well.-If you don’t like my numbers, make your own, but the concept is simple enough for most taxpayers to understand. -IF you disagree with the concept I’d like to hear the conterargument.
This cartoon shows the willingness of humans to be self destructive. The shovel is tearing out the ground underneath itself. Dems blame Reps, Reps blame Dems, but both sides are led by extremists who don’t care who falls as long as “they” “win”.The ones who end up being ‘right’, can be self righteous as the lights go out on all of us.What a wondrous work is man….Sadly,C.
jimguess over 11 years ago
Still amazingly funny that Bennett has no clue as to how to stop the fiscal fiasco we are in.
Fuzzy Thinker Premium Member over 11 years ago
“…“Cut Entitlements…EXCEPT for mine, of course…”“Raise Taxes…EXCEPT for MY constituents, of course…”And so forth, and so on, Ad Infinitum, Ad Nauseum…” Well Said.
Fuzzy Thinker Premium Member over 11 years ago
Clay summarizes the perspective very well. Today, the Top 5% pay 60% of IRS collections. US is headed towards having them pay 80% of taxes collected and borrow the rest. .Take a page from the history of Unions muscling Business to the point factories are outsourced overseas and the Union’s children are jobless and Michigan has ghost towns. Push too hard, and the rich will move their tax shelters around and IRS collections will drop like a rock and the National Debt will sky-rocket. Around the corner will be the US $Dollar Devalued.
lonecat over 11 years ago
Part of the solution is an economy that generates more cash flow and more revenue in the process. The point of stimulating the economy is precisely to get to the point where more revenue will come in automatically. Under certain circumstances, more spending will create more revenue. Circumstances change, and what works in one situation won’t work in another. When the economy is in reasonably good shape, then lowering taxes is often a good idea. When the economy is in bad shape, it’s often a good idea to go into debt in order to get things moving. There is no single policy that works all the time. Budgets should be balanced, but not necessarily year by year.
lonecat over 11 years ago
Yes it has. Do you remember what everyone was saying about the state of the economy back before the election in 2008? Did their dire predictions come true? No? Why not? The least you can say is that the stimulus did not make the situation worse, and I think it’s reasonable to say that it helped. Perhaps a bigger stimulus would have helped more.
dwilliams_72206 over 11 years ago
“There aren’t social assistance services for the rich – "[]I guess that depends upon one’s definition of “social assistance services”! Does that include tax breaks for the oil companies? Does it include subsidies for big pharma? Does it include farm subsidies for those who do not grow certain crops?[]I’m Just Curious – but it seems to me that a lot of public monies are channeled to those who are rich and really don’t need it.[]??
braindead Premium Member over 11 years ago
“Increasing the Capital Gains Tax will punish Middle Class Retirees who are drawing income from their pensions, 401K’s, and IRA’s, as all of this income is from capital gains on their investments.”-EASILY resolved by including a means test. -So, anything up to say, 100,000, taxed at 20%. Anything between 100,000 and 250,000, taxed at 25%. Anything over 250,000 becomes ordinary income — and subject to SSI and Medicare taxes as well.-If you don’t like my numbers, make your own, but the concept is simple enough for most taxpayers to understand. -IF you disagree with the concept I’d like to hear the conterargument.
chazandru over 11 years ago
This cartoon shows the willingness of humans to be self destructive. The shovel is tearing out the ground underneath itself. Dems blame Reps, Reps blame Dems, but both sides are led by extremists who don’t care who falls as long as “they” “win”.The ones who end up being ‘right’, can be self righteous as the lights go out on all of us.What a wondrous work is man….Sadly,C.