No, taxing the rich would lead to surpluses to pay down the debt, and as Bush taught us, running a surplus is unethical! That was his justification for the debt-inducing tax cuts for the rich.
David… please check your writing for errors, it makes it easier to read and follow, especially when they are so numerous in a very short comment.
With that said, your idea, as best as I can understand it, is either foolhardy or lacks sufficient knowledge. As it is, the most drastic spending cut plan (which is a larger value than would be acquired in revenue by taxing the “rich” near 100%… which still ignores the fact that as tax revenue would increase, so would spending and leading to an even greater deficit) still would not be able to pay off the deficit in 10 yrs+.
And that spending reduction is called “draconian” by the left and isn’t supported by many on the Right either. And, yes, it did make cuts to the military, too.
But if we can’t be honest that the problem is far greater than just creating revenue… and that we are spending way more than we can ever acquire in revenue… then we will never fix the problem. At least Clinton was realistic (though he wasn’t close to this level of problem).
It’s possible, we all may be forced to be taxed a little more (every income level) because of the utter stupidity and inanity of our officials (both sides) who believed that there would be an unending pot of gold, so to speak.
this is the only nation on this planet that has not had a forcible takeover and replacement of it’s sitting government, since 1776.
if the citizens of this country realize they have long ago lost control of their government, they may try regaining it violently.
go look at the real reasons behind the War Between the States. and it wasn’t anything to do with slaves.
Terry Mummery almost 13 years ago
Why trust S&P? Weren’t they one of the ‘big 6’ that allowed everyone to get into this mess in the first place?
DavidGBA almost 13 years ago
Raise taxes on rich just temporarily, until debt below reasonable threshold, all new revenue dedicated to dedicit reduction, debt reduction.
ARodney almost 13 years ago
No, taxing the rich would lead to surpluses to pay down the debt, and as Bush taught us, running a surplus is unethical! That was his justification for the debt-inducing tax cuts for the rich.
DjGuardian almost 13 years ago
David… please check your writing for errors, it makes it easier to read and follow, especially when they are so numerous in a very short comment.
With that said, your idea, as best as I can understand it, is either foolhardy or lacks sufficient knowledge. As it is, the most drastic spending cut plan (which is a larger value than would be acquired in revenue by taxing the “rich” near 100%… which still ignores the fact that as tax revenue would increase, so would spending and leading to an even greater deficit) still would not be able to pay off the deficit in 10 yrs+.
And that spending reduction is called “draconian” by the left and isn’t supported by many on the Right either. And, yes, it did make cuts to the military, too.
But if we can’t be honest that the problem is far greater than just creating revenue… and that we are spending way more than we can ever acquire in revenue… then we will never fix the problem. At least Clinton was realistic (though he wasn’t close to this level of problem).
It’s possible, we all may be forced to be taxed a little more (every income level) because of the utter stupidity and inanity of our officials (both sides) who believed that there would be an unending pot of gold, so to speak.
dfowensby almost 13 years ago
this is the only nation on this planet that has not had a forcible takeover and replacement of it’s sitting government, since 1776. if the citizens of this country realize they have long ago lost control of their government, they may try regaining it violently. go look at the real reasons behind the War Between the States. and it wasn’t anything to do with slaves.
OmqR-IV.0 almost 13 years ago
^ I’ve been on this forum long enough to see that the tell here is ”War Between the States”. Tch.