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DesideriScuri -> RE: Obama knows best (4/11/2013 8:14:34 AM)
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quote:
ORIGINAL: mnottertail
Where do current spending and revenue rank all-time? There, you will find the problem.
Revenue way down as a function of AGI. Spending medium as a function of revenue.
http://econdataus.com/outcur08.html
I forgot, you are inumerate. You can use a calculator, but don't know the reality and the context of the numbers.
Nofuckingbody is taxed at 62% of AGI not even close, most of your Willards of the Magic Underpants and 'People Corporations' are at about 12-15%, while the vast majority of the lower and middle class are much higher as a percentage of AGI.
Gimme the numbers, Ron! And, when we were talking 62.2% of AGI, we weren't talking about today, were we? We were talking about 1944/1945 taxpayers in the top tax bracket. And, no, no one will ever have paid 91% of their AGI as that tax rate only applied those dollars earned above $200k. 9¢ of every $1 earned over and above $200k was allowed to be kept by the taxpayer. Thus, the "leaky cap" on income I mentioned previously.
Edited to add:
OMB Historical Table 1.1
2012 actual Revenue: $2.45T (3rd Highest total revenue, all-time; <$120B less than 1st [2007])
2012 actual Spending: $3.54T (2nd Highest total spending, all-time; <$66B less than 1st [2011])
2001 Revenue/Spending (Clinton's final budget year): $1.991T/$1.863T
% increase R/S from 2001: +23.1%/+90.0%
2009 R/S: $2.105T/$3.518T
% increase from 2009: +16.4%/+0.63%
If Bush's spending was so horrible in 2009 (which it was), how is it that Obama holding the line isn't? Obama's estimated spending in his final budget year (2017) will be $4.247T, compared to $3.761T in revenues. If we meet the estimated revenue numbers for 2013, that will be the new record high revenue mark. If we match the spending estimate, we'll also set a record high mark in that category, too.
So, you either think that spending is fine and it's revenues that aren't high enough, or that revenues are high enough and that spending is too high. With revenues being near record highs, it would seem that spending is where the bigger issue is.
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