Soak the Almost Rich- grease up the 'fifth quintile', $100k-250k

[Quantum Windbag]

Tax rates for all earners (not just 'The rich,' ALL of them) are recklessly low, as evidenced by the skyrocketing deficits that replaced surpluses as soon as they were lowered.

It's really quite simple math here folks.

The tax revenues are low because people are not earning as much money, not because the rates were lowered.

It's both.

Revenues go up when people are making money, sure. But if you look at taxation as a constant, it's higher highs and higher lows at a higher rate; Lower highs and lower lows at a lower rate. It's not that complicated.

It's true that they went up after the 2003 tax cuts, but that's because the economy was doing well (on the surface, anyway). Now we're in a recession and revenues are down. After Clinton's first term tax hikes, revenues also went up every year for nearly a decade - Again because the economy was doing well.

Then the problem here is obviously that the government is spending too much. Glad we can agree.

 

[Cuyo]

The tax revenues are low because people are not earning as much money, not because the rates were lowered.

It's both.

Revenues go up when people are making money, sure. But if you look at taxation as a constant, it's higher highs and higher lows at a higher rate; Lower highs and lower lows at a lower rate. It's not that complicated.

It's true that they went up after the 2003 tax cuts, but that's because the economy was doing well (on the surface, anyway). Now we're in a recession and revenues are down. After Clinton's first term tax hikes, revenues also went up every year for nearly a decade - Again because the economy was doing well.

Then the problem here is obviously that the government is spending too much. Glad we can agree.

 

[xsited1]

No. Cuyo just believes that anyone who makes more than he does is RICH and should pay more in taxes.

Cuyo has a job?

Cuyo employs 4 including himself, and statistically Cuyo probably makes a lot more than you, but it's really not the point here. Cuyo has advocated *ALL* taxes going up. That is, if we are serious about a balanced budget... "Serious" except when it means tax hikes, isn't "Serious."

I doubt you make or are worth more than me, but whatever. Keep taxes where they are and cut government spending. Problem solved.

 

[Quantum Windbag]

Are you sure? Is that what I said?

You said raise taxes for everyone. You did not say reform taxes with a flat rate for everyone.

Soooooo... Unless I favor flat tax, my motivations are just plain wrong?

You're flailing.

The really interesting thing is that if we reform the tax code to eliminate the loopholes and tax breaks for everyone we would be able to cut taxes across the board and still increase revenue. Talk to me about raising taxes after we cut subsidies and loopholes.

 

[Quantum Windbag]

It's both.

Revenues go up when people are making money, sure. But if you look at taxation as a constant, it's higher highs and higher lows at a higher rate; Lower highs and lower lows at a lower rate. It's not that complicated.

It's true that they went up after the 2003 tax cuts, but that's because the economy was doing well (on the surface, anyway). Now we're in a recession and revenues are down. After Clinton's first term tax hikes, revenues also went up every year for nearly a decade - Again because the economy was doing well.

Then the problem here is obviously that the government is spending too much. Glad we can agree.

Gotcha

 

[Trajan]

Oh no, I meant tax increases can't be off the table. But of course defense can't either, being about half of what POTUS has control over.

and did I not say that I would not have an issue with the bush cuts vaporizing IF I felt we could trust them and most importantly we have a balanced budget amendment? dude.........

My bad.

While I think we should be paying off our debts when times are good (Ahem, Mr. Clinton), I'd be wholly against an amendment. Sometimes borrowing is the right thing to do, whether it's an individual buying a more efficient heating system, a business financing larger operations, or a government financing a war, crisis, investment in infrastructure, etc.

Look, without a budget amendment say, requiring a 3/4s vote , for raising taxes or borrowing etc. we are going no where, fuc it, I am keeping mine if I can.

sorry but I simply do not trust them, they cannot even agree now with allllll of the shit we have now and coming, no.

no tickey, no shirty.

 

[Cuyo]

Then the problem here is obviously that the government is spending too much. Glad we can agree.

Gotcha

Alrighty then. Good talk.

 

[Zander]

Historically, The Feds have been able to collect approx. 18% of GDP in taxes. When marginal rates were 70% they still only collected 18%. The problem is they spend 20%. DAH!