Lisa Benson for December 20, 2013

  1. Cowboyonhorse2
    Gypsy8  over 10 years ago

    Deficits are almost never solved on the spending side alone. The most effective deficit reducing policy is expanding productivity and low unemployment (say around 4%). Low unemployment reduces deficits in a number of ways. The most obvious is higher tax revenues from greater economic activity and consumer spending, which multiplies through the economy and produces even more economic activity. The other way is by reducing the amount spent on social safety nets – unemployment insurance, food stamps, Medicaid and the like. And the most productive spending is on infrastructure, research, and stuff that improves the productive capacity of the nation. If the private sector is not providing sufficient spending, which in a moribund economy, it almost never does, it is up to government to get the ball rolling – roads, bridges, ports, etc. But for the government to spend they need tax revenue. And the place to tax is on the wealthy, much as was done after WW2 when the nation flourished. Probably the Republican House knows what has to be done, but they will not do it for Obama. Get a Republican in the White House with a Republican House and watch the tune suddenly change and the money taps be turned on. Either that or they will continue with their failed policy of tax cuts, in which case the economy goes down the drain once again. A better outcome would be for a Democratic House in 2014. Then look for a saner economic policy.

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  2. Missing large
    ConserveGov  over 10 years ago

    — How much households at different income levels will pay in federal income, payroll, corporate and estate taxes for 2013.

    Bottom 20 percent

    Average income: $10,552.

    Average tax bill: -$284.

    Average tax rate: -2.7 percent.

    Share of federal tax burden: -0.4 percent.

    Middle 20 percent

    Average income: $46,562.

    Average tax bill: $6,436.

    Average tax rate: 13.8 percent.

    Share of federal tax burden: 8.6 percent.

    Top 20 percent

    Average income: $204,490.

    Average tax bill: $55,533.

    Average tax rate: 27.2 percent.

    Share of federal tax burden: 71.8 percent.

    Top 1 percent

    Average income: $1.4 million.

    Average tax bill: $514,144.

    Average tax rate: 35.5 percent.

    Share of federal tax burden: 30.2 percent.

    Note: The average family in the bottom 20 percent of households pays no federal taxes. Instead, many families in this group get payments from the federal government by claiming more in credits than they owe in taxes, giving them a negative tax rate.

    Source: Tax Policy Center

    http://www.huffingtonpost.com/2013/03/03/1-percent-taxes-2013_n_2802243.html

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  3. Androidify 1453615949677
    Jason Allen  over 10 years ago

    Not nearly has much as the corporations still getting their government subsidies. Welfare is still welfare.

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  4. Cowboyonhorse2
    Gypsy8  over 10 years ago

    “…… Full employment is around 5%, to imagine a lower number would be forcing people to work for minimum wage jobs..”.Baloney, that 4% unemployment would “force” people to work for minimum wages. Full employment would enable many jobs to pay more than minimum and all would benefit. Many economists think an unemployment rate of 4% is about right. That is a rate that is consistent with a stable rate of inflation. Not to mention that a few hundred thousand working rather than not working is always better. A lower rate of unemployment strengthens the working and middle classes by enabling wages to rise and providing more purchasing power in the economy. Many in business mistakenly like a high rate of unemployment because it keeps wages low. That is narrow and incorrect thinking.

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    Mneedle  over 10 years ago

    Your ignorance is overwhelming. Dividends are taxed. I will agree that dividends get preferential treatment, but they should. After all, the investments were bought with the money that the government allowed us to keep from our earnings after we pay tax on those earnings. Additionally, without dividends there would no way to build a large business and that will lead to fewer jobs in the economy. But, hey, that is not important to those of you on the extreme left.

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  6. Giraffe cat
    I Play One On TV  over 10 years ago

    There are far more places to cut the budget than social programs. While I would very much appreciate a tighter rein on them, I feel a scalpel would work better than a machete.

    But those who choose to ignore the corporate welfare and military bloat (especially projects that even the spendthrift Pentagon does not want) will never see the true picture. Again, a scalpel would work better.

    And there’s much work that needs doing, and people being paid not to work. This makes no sense. Why can’t we make workfare instead of welfare? Infrastructure improvements are often grunt work after the engineering is done, and much of the engineering is done, but “we can’t afford” to fix our bridges or roadways…..give me a break.

    But if you always do what you’ve always done, you’ll always get what you’ve always gotten.

    Any real thinkers in Washington? Raise your hands high…..if your representative is not, see if you can help him/her use his brain and power to effect some true valuable change. This is our only hope. Fighting on GoComics may make us feel better, but will get us nowhere. And follow through at the voting booth; vote for do-ers, not for talkers, regardless of party, and things can change for the better.

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  7. Cowboyonhorse2
    Gypsy8  over 10 years ago

    Okay if you like to do nothing, are satisfied with a bare minimum, have no self respect, and no ambition for the future. Most have higher aspirations. There are some free-loaders. Most on welfare have run out of options. Fewer would be on welfare with policy that does not result in extreme disparity of income and growing.

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