Save America: Lower Taxes Now

Discussion in 'Economy' started by Sinatra, Aug 30, 2010.

  1. Sinatra
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    Sinatra Senior Member

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    The United States is a nation greatly burdened by a prohibitive tax code that stifles prospective economic growth and endangers our future.


    ...What then of reducing taxes? American history has proven time and again that tax reduction leads to increased economic prosperity, and that while tax rates are reduced, actual tax revenues increase. Why? Simply put, if an economy is growing, more businesses are formed, expanded, and more jobs are created – jobs which produce more tax payers, consumers, and thus, overall tax revenues. When a free market economy is actually allowed the freedom to grow, wonderful opportunity is created. When this same economy is stifled by a constrictive tax code, diminished growth and opportunity result.

    For example, one need look no further than the Reagan tax cuts of the 1980s. It is a common misconception repeated by Big Goverment advocates, that the Reagan tax cuts caused an increase in the federal deficit. A basic review of the simple historical revenue facts paints a far different picture. The Reagan tax cuts actually produced an inflation-adjusted increase in tax revenue of 28%. Where the budget deficits were truly created was in the big government spending of the Democrat dominated Congress for most of Reagan’s two terms as president. Each year the Congress promised spending reductions, and each year, these promises were for the most part, unkept. Instead, this Congress took the increases in overal tax revenue and spent even more. And this is not just a Democrat issue – the Republicans during the George W Bush presidency did the same exact thing – spend far more than what was actually coming in.

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    Full article here:

    Save America: Lower Taxes Now | Newsflavor
     
  2. asterism
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    asterism Congress != Progress

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    I have an alternative:

    Save the state of our Federal Government Funding. INCREASE taxes! That's right, I said INCREASE taxes. INCREASE taxes on the upper income earners. Continue this trend:

    [​IMG]
     
  3. Sinatra
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    Sinatra Senior Member

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    Taxes inhibit growth – period. And without growth, the economy begins to cannibalize itself. Fewer new jobs are created, which in turn reduces overall tax revenues for critical services. Big government proponents then simply push for higher tax rates to offset these losses in revenues, which in turn, actually reduce growth even further and thus, reduce future tax revenues. Unless major tax reform is enacted now there will soon come a time of complete economic collapse. The fall of the Roman empire is just such an example, and the fall of the Soviet Union a more recent example.

    Read more: Save America: Lower Taxes Now | Newsflavor
     
  4. asterism
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    asterism Congress != Progress

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    Except that plan will actually increase the amount of taxes paid, which is why it needs to be accurately called a tax increase. :)
     
  5. Micky G. Jagger
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    Micky G. Jagger Member

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    Reagan raised taxes, dude.
     
  6. Sinatra
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    Sinatra Senior Member

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    ____

    Yes, decreasing taxes increases revenue.

    Now why can't the president and Congress understand that????
    ______

    What then of reducing taxes? American history has proven time and again that tax reduction leads to increased economic prosperity, and that while tax rates are reduced, actual tax revenues increase. Why? Simply put, if an economy is growing, more businesses are formed, expanded, and more jobs are created – jobs which produce more tax payers, consumers, and thus, overall tax revenues. When a free market economy is actually allowed the freedom to grow, wonderful opportunity is created. When this same economy is stifled by a constrictive tax code, diminished growth and opportunity result

    FULL ARTICLE HERE:

    Save America: Lower Taxes Now | Newsflavor
     
  7. Sinatra
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    Sinatra Senior Member

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    Reagan was a net tax reducer - by a considerable margin...
     
  8. Micky G. Jagger
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    Micky G. Jagger Member

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    The Tax Equity and Fiscal Responsibility Act of 1982, signed by President Reagan, repealed accelerated depreciation deductions, instituted a 10 percent withholding on dividends and interest paid to individuals, increased the Federal Unemployment Tax Act wage base and tax rate. Also, the act doubled excise taxes on cigarettes and tripled the excise taxes on telephone service.
     
  9. Care4all
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    Care4all Warrior Princess Supporting Member

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    Reagan gave us a 100% tax increase on the working class.... he DOUBLED our taxes on social security and doubled all businesses social security tax match....then set it up to use this social security surplus taxes to pay for what income taxes should have been paying.
     
  10. johnrocks
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    johnrocks Silver Member

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    The Deficit Is a Symptom, Spending Is the Disease

    Sometime in the next week or so, the U.S. national debt will exceed $13.4 trillion.

    To put that in perspective: If you earned $1 every second, it would take you 425,000 years to earn enough money to pay off that debt. And it's not likely to get much better any time soon. According to the Congressional Budget Office, the United States will run up more than $1 trillion in debt next year as well, and for years to come. And with entitlement programs like Social Security and Medicare facing more than $100 trillion in future unfunded liabilities, we may look back on this level of debt as representing the "good old days."

    Yet, as frightening as those numbers are, focusing on the deficit and debt is to confuse the symptom with the disease. As Milton Friedman often explained, the real issue is not how you pay for government spending — debt or taxes — but the spending itself. In other words: Don't just look at the deficit, look at why we have a deficit. And the reason we have a deficit is pretty simple: Government spends too much.
    The Deficit Is a Symptom, Spending Is the Disease | Michael D. Tanner | Cato Institute: Commentary
     

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