When you consider the cuts in proportion to the budget, this cartoon is pretty close. How the cuts will affect us is another matter. The cuts have to sting enough to make us willingly accept higher taxes.
^I’ve already stated that I would be willing to do my patriotic duty, and that I think the Bush Tax Cuts should be rescinded - and I’m well into the tax bracket that benefited from it. How about you? Are you a patriot?
Church, I think we all agree that if we continue to spend more than we take in, the deficit will continue to rise. But surely you can understand that if you have run up a $20,000 balance on your credit card, even if you cut your spending to the bare minimum but you are on a fixed income, that credit card balance is never going to get paid down, unless you demand your rich nephew start paying back the sweet-heart loans you gave him to finance his business. Especially if you are still paying $700/month car payments on the Lexus (Pentagon spending) in the garage. If you were serious about reducing that credit card balance, shouldn’t you get rid of the Lexus and get a mid-sized Ford?
We have two issues here. The deficit and the debt. We will never pay off the debt, or not in my lifetime. Our only hope is to stop spending more than we take in (deficit). Or better yet, spend less than we take in. It is a fact that raising taxes will hurt the economy (and revenues) in the long run. Reducing taxes always results in more revenue to the government.
^gbrucewilson, “Reduce taxes always results in more revenue to the government” is simply wrong. It is wrong in so many ways it boggles the mind. Good luck finding any EVIDENCE of that. The Bush Tax Cuts led directly to our current deficit state even before getting into two (three?) stupid wars.
you need to research the “laffer curve”. reducing taxes when they are too high raise overall revenues.
HOWEVER
reducing taxes when they are too low reduces overall revenues.
sometimes it’s appropriate to lower taxes. sometimes it’s appropriate to raise taxes.
at this point taxes have been cut for the uber-wealthy and corporations to the point where we are SPENDING tax dollars to pay corporate welfare to highly profitable companies.
this is so far beyond the laffer curve, and common sense as to defy reality.
churchill,
you’re lacking on some basic economic theory. study the laffer curve (in case you didn’t know, it’s what regans voo-doo economics took a little piece of).
if the tax rate is 1% and you reduce it to zero, tax revenues will fall to zero.
if the tax rate is 99% and you increase it to 100%, tax revenues will fall to zero (as there is no reason to work).
between those two points there are many points and times where ADJUSTING the tax rate will increase or decrease tax revenues and it’s variable.
it is a FACT that lowering the tax rate does not necessarily increase tax revenues.
Dtroutma about 13 years ago
Both parties are writing lines for Leno and Lettermen with this ridiculous “effort” and “argument”.
Chrisnp about 13 years ago
Disingenuous? I doubt it.
When you consider the cuts in proportion to the budget, this cartoon is pretty close. How the cuts will affect us is another matter. The cuts have to sting enough to make us willingly accept higher taxes.
WarBush about 13 years ago
So we cut off the arm and then what? We still owe money.
Motivemagus about 13 years ago
RAISE THE TAXES ON THE RICH, DAMMIT!
oneoldhat about 13 years ago
yes raise taxes – 99% on motivemagnus
Motivemagus about 13 years ago
^I’ve already stated that I would be willing to do my patriotic duty, and that I think the Bush Tax Cuts should be rescinded - and I’m well into the tax bracket that benefited from it. How about you? Are you a patriot?
Bluejayz about 13 years ago
Church, I think we all agree that if we continue to spend more than we take in, the deficit will continue to rise. But surely you can understand that if you have run up a $20,000 balance on your credit card, even if you cut your spending to the bare minimum but you are on a fixed income, that credit card balance is never going to get paid down, unless you demand your rich nephew start paying back the sweet-heart loans you gave him to finance his business. Especially if you are still paying $700/month car payments on the Lexus (Pentagon spending) in the garage. If you were serious about reducing that credit card balance, shouldn’t you get rid of the Lexus and get a mid-sized Ford?
gbrucewilson about 13 years ago
We have two issues here. The deficit and the debt. We will never pay off the debt, or not in my lifetime. Our only hope is to stop spending more than we take in (deficit). Or better yet, spend less than we take in. It is a fact that raising taxes will hurt the economy (and revenues) in the long run. Reducing taxes always results in more revenue to the government.
Motivemagus about 13 years ago
^gbrucewilson, “Reduce taxes always results in more revenue to the government” is simply wrong. It is wrong in so many ways it boggles the mind. Good luck finding any EVIDENCE of that. The Bush Tax Cuts led directly to our current deficit state even before getting into two (three?) stupid wars.
dannysixpack about 13 years ago
^^gbrucewilson,
you need to research the “laffer curve”. reducing taxes when they are too high raise overall revenues.
HOWEVER
reducing taxes when they are too low reduces overall revenues.
sometimes it’s appropriate to lower taxes. sometimes it’s appropriate to raise taxes.
at this point taxes have been cut for the uber-wealthy and corporations to the point where we are SPENDING tax dollars to pay corporate welfare to highly profitable companies.
this is so far beyond the laffer curve, and common sense as to defy reality.
you can’t shoot pool with a rope.
dannysixpack about 13 years ago
churchill, you’re lacking on some basic economic theory. study the laffer curve (in case you didn’t know, it’s what regans voo-doo economics took a little piece of).
if the tax rate is 1% and you reduce it to zero, tax revenues will fall to zero.
if the tax rate is 99% and you increase it to 100%, tax revenues will fall to zero (as there is no reason to work).
between those two points there are many points and times where ADJUSTING the tax rate will increase or decrease tax revenues and it’s variable.
it is a FACT that lowering the tax rate does not necessarily increase tax revenues.