What's Really Driving The National Debt? Tax Cuts and Wars

Discussion in 'Economy' started by JBeukema, May 22, 2011.

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  1. JBeukema
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    JBeukema BANNED

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  2. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    Hey JB, the Bush era tax cuts are projected to be 3.7 trillion over the next 10 years, with 700 billion of that for the rich guys. You wanna go find a pol on either sde of the aisle that will sponsor a bill to raise taxes on evrybody? Sure, you can do the tax hike on the rich, but you only get 700 billion out of an additional 10 trillion or so of new debt. I an't see how raising taxes is going to cut it.

    Cost of wars in Iraq and Afghanistan seem to be gettng larger after 2009, maybe you should get with the Obama admin for upping the cost there. Frankly I think that chart is total BS, healthcare and SS are going to go way up over the next 10 years and that doesn't seem to be represented. If you're going to tell me you really think ObamaCare will not greatly increase the nat'l debt, I'm going to tell you to get in touch with reality. Obama is going to cut 500 billion out of medicare? Suuuuure.
     
  3. sparky
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    sparky VIP Member

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    i don't see anything representative of all those evil welfare queens there JB.....
     
  4. Trajan
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    Trajan conscientia mille testes

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    Last edited: May 22, 2011
  5. Truthseeker420
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    Truthseeker420 Gold Member

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    Comrade? Why would you say that?
     
  6. Trajan
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    Trajan conscientia mille testes

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    when folks classify tax cuts as debt. you tell me?
     
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  7. Truthseeker420
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    Truthseeker420 Gold Member

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    Tax cuts mean less income which means more debt. It would be great if no one had to pay taxes and we could run the government on a credit card but that is not the reality.
     
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  8. sparky
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    sparky VIP Member

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    So the current debt cieling debate continues to orbit the two most prevelant elements that would put a dent in it,>

    A) taxing those who have the most $$$

    B) riening in the war machine

    not to mention the profiteering implicating A & B's collusion

    Ignoring this to demonize welfare queens as wealth distribution whores really reeks of people who not only can't do the math, but are allegied to a pack of lies prioroties handed down to them
     
  9. expat_panama
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    expat_panama Silver Member

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    That's a leftist fantasy land. The more wealth the bigger the credit line and the more debt. True for both nations and individuals. A lower income can happen with lower debt is when spending is cut.

    Debt is like money, it's wonderful but only when it's understood and managed.
     
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  10. expat_panama
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    expat_panama Silver Member

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    That plus the fact that revenue soared after the '03 tax-cuts:
    [​IMG]

    The reality is that spending increases made the debt bigger and tax-cuts made it not as big as it would have been.
     
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