It's the Revenue Stupid!.......This Election Cycle's Motto......
source: http://ireport.cnn.com/docs/DOC-642794?ref=feeds%2Foncnn
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- kennymotown
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Paratus
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Spending, spending, spending is the key. It does no good to confiscate income or wealth, if there is no spending discipline. Warren is correct, even taking all the wealth of the "rich" will not remedy this if we continue to spend. At some point even the "rich " will run out of money and then who will we rob?
Last year some 26 million people received about $59 billion in EITC. Who paid this.......the 53% of the people who filed tax returns with taxable income and paid tax. We already are redistributing income, we need to fix spending. - 9 months ago
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Paratus
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CreditFigaro
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Paratus:
It's a loop, dude. The spending doesn't just get tossed out the window, never to be seen again.
As everyone spends the upward siphoning of the rich becomes stronger, but smaller relative to the rest of the economy.
The entire economy is spending.
"fix spending" means choking out the economy.
For every dollar the government spends, it gets about 35 cents back, almost as a matter of course. That's assuming no multiplier effect, which you know as well as I do, is a real and dependable phenomenon.
By the way, the EITC is one of the best economic tools that exists. One only gets access to it if they are truly destitute. besides, 26 million people is less than 1/10th of the work force, and $59 billion is just over 1% of the entire budget.
You guys always play the fairness card when it comes to taxes, but then when it comes to social welfare you have this "well, life ain't fair" kind of attitude. Blows my mind. You are a CPA paratus, right? You have, I hope, a somewhat better understanding of numbers than most. I can't believe you don't see the bullshit.
- 9 months ago
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CreditFigaro
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Warren_Merrill
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If you taxed the rich at 100% it would cover the budget for a half a year. Then what? There aren't any trillonaires.
- 9 months ago
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Warren_Merrill
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kennymotown
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Warren_Merrill:
Half of the debt is because of just the Bush tax cuts, if we dropped those and the Reagan tax cuts in less than a decade the debt would be erased. Pretty easy, and we don't have to tax them 100%.
- 9 months ago
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kennymotown
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Brendan_Davis
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kennymotown:
Were the Bush Tax Cuts not 2%? If two percent and 100% yield the same amount I am confused. It would be cool if someone had sources.
- 9 months ago
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Brendan_Davis
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kennymotown
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Brendan_Davis:
Here you go.....
And I'll bring up the reagan tax cuts as soon as I find the info, combined you'll see exactly what I'm talking about.
http://www.huffingtonpost.com/2011/05/20/bush-tax-cuts-debt_n_864812.html
http://progressiverambler.blogspot.com/2011/08/bush-tax-cuts-wars-half-of-debt-b...
- 9 months ago
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kennymotown
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kennymotown
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Brendan_Davis:
Here's what happened with the reagan tax cuts....
http://www.tampabay.com/news/politics/national/politifact-reagan-tax-cuts-benefi...
- 9 months ago
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kennymotown
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Warren_Merrill
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kennymotown:
The problem is excessive government spending. It started getting out of control in the last two years of the Bush presidency. Now it's ridiculous. Politicians remind me of when handing a kid and letting them spend up to $100. It's not their money. They spend it all. The difference is the politicians use a credit card and max it out.
- 9 months ago
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Warren_Merrill
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CreditFigaro
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Warren_Merrill:
First of all, no one expects the rich to pay 100%... that's ridiculous.
Second, everyone else already pays a shit ton in taxes. I earned peanuts last year and paid a fat chunk to uncle sam.
Finally, pulling the marginal tax rate on income over $1 mil a year to 100% (including capital gains) WOULD HANDILY BALANCE THE BUDGET.
Not by itself, but on top of what we have already.
- 9 months ago
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CreditFigaro
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remanns
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Duh . . . +^d
- 9 months ago
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remanns
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EdJoyProductions
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It is not that this is some kind of mystery knowledge. It is greedy politicians acting on behalf of large campaign contributors. This will never end until campaign reform is initiated and the present contribution system is recognized for what it is: legalized bribery.
- 9 months ago
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EdJoyProductions
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kennymotown
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EdJoyProductions:
Absolutely correct!
- 9 months ago
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kennymotown
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ThirdSection
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I just twot that!
http://twitter.com/#!/ThirdSection
- 9 months ago
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ThirdSection
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kennymotown
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ThirdSection:
Very cool!
- 9 months ago
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kennymotown
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CreditFigaro
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Well, this is absolutely right. You cut things you don't need. If you have cable and you aren't using it, then you get rid of it.
If you need your car to get to work, you don't cut it.
When the math doesn't work, it's because someone is screwing you.
- 9 months ago
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CreditFigaro
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Lairderg
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Anybody who has been working and who has been half awake (or, at least, half brained) can figure this out, even the Tea Poisoner, when not drinking the poisoned tea. Many of the rich people/corporate officers in this country have been allowed to keep money that should have been paid to their workers. If they don't have the consciousness or the conscience to realize this, then we need to make it simple for them: pay you damn taxes, you lazy bums!
- 9 months ago
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Lairderg
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kennymotown
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Lairderg:
Yes indeed, the whole pie is only so big!
- 9 months ago
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kennymotown
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kennymotown
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This should be the motto this election cycle!
- 9 months ago
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kennymotown
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kennymotown
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kennymotown:
I agree kenny 100%, wait a second I'm talking to myself again.......never mind!
- 9 months ago
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kennymotown
