Save America: Lower Taxes Now

[Sinatra]

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

 

[asterism]

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:

 

[Sinatra]

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

 

[asterism]

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

Except that plan will actually increase the amount of taxes paid, which is why it needs to be accurately called a tax increase.

 

[Micky G. Jagger]

For example, one need look no further than the Reagan tax cuts of the 1980s.

Reagan raised taxes, dude.

 

[Sinatra]

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

Except that plan will actually increase the amount of taxes paid, which is why it needs to be accurately called a tax increase.

____

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

 

[Sinatra]

For example, one need look no further than the Reagan tax cuts of the 1980s.

Reagan raised taxes, dude.

Reagan was a net tax reducer - by a considerable margin...

 

[Micky G. Jagger]

For example, one need look no further than the Reagan tax cuts of the 1980s.

Reagan raised taxes, dude.

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.

 

[Care4all]

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.

 

[johnrocks]

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

 

[Sinatra]

Ah, the Reagan revisionists are in full effect!!!

It is indisputable fact that Reagan was a net tax reducer - by a considerable margin.

He also did great work in simplifying the tax code - though unfortunately over the years, that simplification has been rendered obsolete by special interest tax code legislation enacted by both subsequent Democrats and Republicans.

Reagan also helped to reduce the GNP debt by more than HALF. The resulting deficits were caused not by too little taxes being taken in, but by too much government spending going out via the Democrat dominated Congress.

Manufacturing grew by almost 50%, well over 18 million jobs created, and per capita income increased by 20% along with exports by over 90%.


Just like JFK did before him, Reagan initiated substantial tax cuts that resulted in even more substantial economic growth.

Such policies are needed now - reduce the marginal tax rates, reduce the corporate tax rates - and watch the great American economy come roaring back to life.
____

President Obama and the Democrat Congress would do well to remember two modern era presidents who understood well the power of sweeping tax cuts. Under both John Kennedy and Ronald Reagan, America reduced taxes significantly, and American prosperity resulted. Tax revenues were increased, as was job creation, and personal wealth. These were times of American prosperity and power, when the world looked to this nation as a shining example of freedom, and limitless possibility.

America’s political leaders of today would do well to look to the past examples of Kennedy and Reagan as they contemplate the present in planning for our future. Free the American economy from its oppressive tax regime. Free the American people and allow them opportunity to succeed and prosper in an environment that once again values and rewards hard work.


Save America – Lower Taxes Now.Read more: Save America: Lower Taxes Now | Newsflavor

 

[Care4all]

Have your taxes been RAISED sinatra? If so, how?

Did the bush tax cuts, really save the economy, or put us in deficit farther than the eye can see and grow the national debt by $6 TRILLION?

 

[Micky G. Jagger]

For example, one need look no further than the Reagan tax cuts of the 1980s.

Reagan raised taxes, dude.

Reagan was a net tax reducer - by a considerable margin...

Nope, you're wrong.

Reagan raised taxes more than he cut them.

 

[Sinatra]

Reagan raised taxes, dude.

Reagan was a net tax reducer - by a considerable margin...

Nope, you're wrong.

Reagan raised taxes more than he cut them.

Oh really!!!

Now how about you do a bit of clarifying of that little statement...

 

[Sinatra]

Save America: Lower Taxes Now

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


...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.


Read more: Save America: Lower Taxes Now | Newsflavor

 

[Toro]

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

Kaching, kaching, kaching!

Whatever the optimal tax code, and whatever Americans should pay, the US is not burdened by a prohibitive tax code that stifles growth. I read somewhere that federal taxes are 14% of GDP, the lowest since 1940. More than half the people in this country don't pay income taxes. America has one of the lowest tax takes in the developed world.

But besides that, the US economy has grown at a rate of 2% per capita per year for at least 150 years, regardless of what the tax take has been.

I would take these arguments more seriously if they were intellectually honest.

 

[Sinatra]

From CNBC earlier this month...
___

As the battle in Congress continues over Bush-era tax cuts on personal income, a less-noticed debate is brewing over cutting the corporate tax rate, which at 35 percent is the second-highest in the world.

...A 2010 World Bank study pegged the U.S. effective tax rate at 27.9 percent, far higher than the average of 16.8 percent among developed countries.

News Headlines

 

[Sinatra]

And from earlier in the summer...
____

McIntyre noted that the United States may have one of the highest corporate tax rates, but it continually ranks as the country with the lowest rate of corporate tax collections.

While the fact holds true, there’s a perfectly good explanation, said Hodge.

“That’s like Neiman Marcus complaining that they have lower revenues and profits than Wal-Mart,” he said. “When you have everyday low prices, you attract a larger market. You become more competitive than everyone else and customers will flock to you. The same thing goes for corporate tax rates.”

Despite Japan’s decision to lower taxes on corporations, Democrats in Congress and the White House have made it clear they have no intention to follow Japan’s path any time soon.


Read more: United States could have highest corporate tax rate within a year | The Daily Caller - Breaking News, Opinion, Research, and Entertainment

http://newsflavor.com/opinions/save-america-lower-taxes-now/

 

[Zona]

For example, one need look no further than the Reagan tax cuts of the 1980s.

Reagan raised taxes, dude.

Reagan was a net tax reducer - by a considerable margin...

ONly when he was a democrat...

 

[loosecannon]

and that while tax rates are reduced, actual tax revenues increase.

This sentence is absolutely crap and a lie.....

But I have to agree with the general premise that in the face of globalization America needs to eliminate the corporate tax entirely.

But as long as we have a deficit that is outta hand and a debt that quickly approaches 100%of GDP we have to increase personal taxes.

sorry that's just the way it is and no amount of phony assertions about revenues increasing when personal taxes were cut is gonna change it.

revenues have almost always increased yoy. And just because they increased after a tax cut in no way at all proves that the tax cut caused the revenue increase.

Correlation doesn't equal causation. It just doesn't.