DesideriScuri
Posts: 12225
Joined: 1/18/2012 Status: offline
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quote:
ORIGINAL: DomKen quote:
ORIGINAL: DesideriScuri quote:
ORIGINAL: DomKen quote:
ORIGINAL: Phydeaux quote:
ORIGINAL: DomKen Or you know we could simply increase revenue enough to have a reasonable surplus and slowly pay down the debt. We could even pursue a pro inflation, say 5 or 6%, strategy and reduce the debt by effectively slowly devaluing the dollar. There's only 538 problems with your scenario. Well. 539. It won't work. Consistently, every time we raise taxes spending rises by the same or more. But, even if we were to do that. You could take every penny of every american and not pay our obligations. We don't have a revenue problem - our revenues are fine. We have a spending problem. Nonsense. We raised taxes in the 90's and we controlled spending such that the budget nearly reached balance. Were tax rates raised? Yes. Did the economy boom? Yes. Were the two related other than simply occurring at the same time? No. The economy boomed because of new technology in business. The internet hit and its use exploded in the business world. The high tax rates raked in more money because of the economic boom. Without that economic boom, what would the tax revenues and deficits have been? The economy boomed despite the more realistic tax rates. Proving tax rates, in that range, have little if any impact on the economy. As to the rest, If the wealthy are getting richer, true, amd the rest of us aren't, also true, then something has to be done or we are looking at eventual trouble. So, since I do not desire the French solution be applied here, I see the need to greatly tax the wealthy to redistribute that wealth. Considering the economy boomed on a major technological breakthrough, unless we have another one of those coming down the pipe, tax rates may or may not have any kind of impact on the economy. Had the internet craze not happened in the 90's, things could have been much different (though that's pure conjecture was we can't know).
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What I support: - A Conservative interpretation of the US Constitution
- Personal Responsibility
- Help for the truly needy
- Limited Government
- Consumption Tax (non-profit charities and food exempt)
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