Tuesday, August 16, 2011

Raising taxes is no solution or even help

The two U.S. mainstream political parties may be stupid any day of the week.

However, more taxes is not a solution to get the U.S. out of its debt problems.

For instance, if by some magic, it was possible to tax the top earners at 100 percent, it would be less than a drop in the bucket. It would not matter. And, as some Australian's may not understand, small business is a big driver in the U.S. economy; even more so after our politicians allowed everything that wasn't nailed down to be off-shored.

The pretend conservatives known as the Republican party, are right on this one. Almost to the effect that a broken clock is right twice each day.

The Federal government spending has to be trimmed massively. If not, the economy has no chance of improving.

The idea that a spendthrift Federal government needs more taxes is absurd.


Anonymous said...

Raising taxes for the rich was recommended by Buffet .... your word against the word of Buffet ...hummmm... lets see?!! .... I go with Buffet on this one.

...kid ...raising taxes to the rich is also a measure of social "justice".
After all were the middle class that saved the banks!!

ELP said...

"Social Justice" would be passing laws that don't allow for bailouts.
It would also be for putting people that run banks that sub contract work out to falsify mortgages. So really we need FBI and Justice to put more people in jail that do these things. The problem with the Buffet loon is that the socialists end up catching people who run small businesses up in their tax and spend net.
Finally: "Social Justice" would be not spending hard-earned tax dollars on useless no-win wars or paying out money in the form of welfare to people who's only career path seems to be breeding more welfare recipients. Well that is a start. However when this country can control the massive amounts of run away spending, and not the drop in the bucket cuts, then we can look at other things, but not until then. Punishing small business is yet another job killer. Something Bush 1, Clinton, Bush II, Obama, and the bought and paid for Congress have enabled through their anti-American policies. It is the United States of America and not the United Federal Government of America.

Cocidius said...

Bringing our troops home from two useless wars would be a good start!

Be careful of the cutting government mantra Eric. Many of us (like me) are hard at work serving the public and are losing our jobs. Department of Homeland of Security funding in my region has been cut in half meaning no buying needed radios for the police, no fire trucks for the fire department, laying off paramedics needed in rural areas, etc, etc.

People are going to get a massive wake up call when they call the health department for a disease outbreak and there's no one working there any more!

Anonymous said...

Raising taxes on the top 2% of income in the US back to the "job destroying" taxation levels of the 1990s (which produced a Balanced Budget for TWO YEARS running, remember?) would bring in $500-600 billion dollars by 2020. That's "a drop in the bucket?"

ELP, it's almost as if you've forgotten that the US was able to run a BUDGET SURPLUS for *two years in a row* in 1999 and 2000 ... and that when the Republican Party seized control of all three branches of government (Judicial, Legislative and Executive) in 2001, JOB #1 for the Republican Party was to get rid of the budget surplus by any means necessary. And they *succeeded* ... wildly.

Remember a $5.6 TRILLION cumulative budget surplus by 2010 projected back in 2000, if Congress would just stay the course? Remember Alan Greenspan worrying about the prospect of the US paying down the federal debt too quickly and becoming a Creditor Nation again?

Honestly ELP ... I expected better from you than to jump head first down the memory hole ...


ELP said...

It is good to bring up history to a point. Here is more. Between the Clinton years and today, 50,000 companies (this would be the critical sub-100 employee shops) have been off-shored or put out of business. Around 40,000 of those in the last 10 years. There is your lost tax revenue. The U.S. needs job growth at home. When you saw Bush II go off on a visit to China or India, he was visiting all the jobs he created. Bush 1 and Clinton and the Hill presided over treason to the American people. BOTH main stream parties offer nothing but big, bloated government. They cannot get enough of it. Why send more tax money to D.C. when people can invest it in savings or job creation. We need more regulation that protects these kinds of things. We need a flat tax. I don't care if someone makes a million per year. That is their business not mine. They should be taxed at the same rate as anyone else. The socialist attitude that someone should be punished for making money is bad. People worth a billion or more? Good luck with that. They have already protected that money.
We do not need a department of eduction. Department of education needs to be cut big time. Please tell me the performance that they have provided? Better test scores? Welfare has to stop for able bodied people. People should not be paid for having kids. I believe in county, city and state police. I believe in the FBI. Border patrol and Customs? Good. Roll everything else that is Federal under the FBI.
We need to STOP foreign aid. Nation building at home. Period. Dot. There are other places to cut too. It is shameful to raise taxes until the people's Federal government gets its house in order.

Vince said...

It prolly be a mix of measures to achieve a balanced budget. The Pain is coming soon.


Thats a 100 bil cut on the defense budget alone for starters. I expect balanced budget and the economy will be the main topics in the next election. Major weapon programs gonne be cancelled. The money just aint there anymore.
Change is coming and it will hurt.