Top Repub says okay to raise taxes to pay down debt

[Truthmatters]

http://www.nytimes.com/2011/08/06/business/us-debt-downgraded-by-sp.html?_r=1


“What’s changed is the political gridlock,” said David Beers, S.& P.’s global head of sovereign ratings, in an e-mail several days before a debt ceiling agreement was announced. “Even now, it’s an open question as to whether or when Congress and the administration can agree on fiscal measures that will stabilize the upward trajectory of the U.S. government debt burden.”

 

[peach174]

We didn't raise taxes to pay for the wars when they happened; we borrowed that money, thus effectively deferring payment.

It's only common sense that taxes should be raised to pay for those wars. That's what we did up until the 1980's,

and that's one important reason we didn't have massive long term debt up until the 80's.

No it isn't
President Johnson took SSI money to pay for Viet Nam, because he did not want to raise taxes to pay for the war.

 

[TakeAStepBack]

Who says if they receive more reveneue, they will not simply waste it? We didnt get 16 trillion in the hole because of prudent fiscal responsibility. Quite the contrary. They have enough money, learn how to budget and quit making excuses for why you can't continue to the grow the bureaucracy. Fucking statists. They will be the first hung when the next revolt is in full swing.

So you're willing to carry the current debt load forever, and pay TAX MONEY in the hundreds of billions on the interest on that debt,

because there's no perfect plan to pay down the debt?

Do you realize that's self-defeating?

No. Congress needs to work with the revenue they have cut bloat, waste and programs that the american people can not afford. Stop promising shit you can not provide and instead, work within the limits you're given. If they balance the budget without a single dollar added in tax revenue and can maintian that for a year without one single borrow, we can come back and talk about raising taxes to ACTUALLY pay down debt. Not "play money" for the congressional lavish promise nonsense for elections.

it will never happen. Therefore, this is going to end badly. It will be the statist strung from trees first.

 

[whitehall]

You almost gotta laugh. The left revels in the Soros propaganda network Media Matters being tax exempt while they cherry pick tax related statements by republicans.

 

[TakeAStepBack]

They're economically inept. it is the reason i despise LOLberals completely. That and their too dumb to realizxe they like tyranny and call it liberty. Backasswards all the way.

Of course, there aren't many republicans I side with either. They too are statists. But they do show signs of actually understanding how economics works sometimes. So there is that.

 

[Cammmpbell]

I'm okay with this; some might say he's flip flopping, but times and conditions change and so should the positions our leaders take when necessary. I would differ somewhat though with what he's saying in that I would not raise taxes until the economy gets stronger. I would reform our tax code but make it revenue neutral until such time as GDP growth is sustained above a certain benchmark, say 3.5%.


" As a conservative Republican, Lindsey Graham has never had a problem promising not to raise taxes. Like almost every other Republican member of Congress, he has signed the anti-tax pledge put forth by Grover Norquist's group Americans for Tax Reform.
But now Graham says the debt crisis is so severe that the tax pledge — which says no tax loopholes can be eliminated unless every dollar raised by closing loopholes goes to tax cuts -- has got to go.
"When you eliminate a deduction, it's okay with me to use some of that money to get us out of debt. That's where I disagree with the pledge," said Graham.
The Americans for Tax Reform pledge commits signers to "oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses … and oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates."
Graham said eliminating some deductions should free up money to lower tax rates — but also to pay down U.S. debt. "

Top conservative says read my lips: Don

Shucks! Dwight Eisenhower presided over eight years when any American who earned more than $300,000 per year paid 91% of the excess to the government. We were paying for the second world war..............HELLO!!!

Bush started two wars....one totally unnecessary and ran the cost off budget. At the same time he cut taxes twice, 2001 and 2003 and used the reconciliation scenario to block Democratic opposition. Don't worry.....he just doubled the national debt. His daddy and Reagan quadrupled it.

 

[Wry Catcher]

I disagree with him, obviously.

A better plan would be to reduce the spending of the Federal government by 50% while leaving taxes at the present level and use the difference to pay down the debt.

GREAT IDEA. That will do wonders for the economy, another million or so public employees unemployed, unable to make their mortgage payments, car loans. Just brilliant - I really believe there's a place for you in the Republican leadership in Congress. Run, Darkwind, Run!

 

[Wry Catcher]

They're economically inept. it is the reason i despise LOLberals completely. That and their too dumb to realizxe they like tyranny and call it liberty. Backasswards all the way.

Of course, there aren't many republicans I side with either. They too are statists. But they do show signs of actually understanding how economics works sometimes. So there is that.

How about Libertarians, you like them?

 

[Truthmatters]

how can these idiots just keep repeting the same fucking lies they have been outed for repetedly?

 

[Wry Catcher]

We didn't raise taxes to pay for the wars when they happened; we borrowed that money, thus effectively deferring payment.

It's only common sense that taxes should be raised to pay for those wars. That's what we did up until the 1980's,

and that's one important reason we didn't have massive long term debt up until the 80's.

No it isn't
President Johnson took SSI money to pay for Viet Nam, because he did not want to raise taxes to pay for the war.

I don't recall Richard Nixon raising taxes to pay for the Vietnam War, though I do recall after four years of Nixon as Commander-in-Chief he handed off an economy so depressed the economists needed to coin a new name to describe it: STAGFLATION.