- Aug 28, 2016
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But they don't all that matters is the increasing debt.You are lying to yourself. Decreasing deficits matter. You just aren’t fiscally responsible.it doesn't really matter as the debt still grew so IOW Clinton still spent more than government revenue.Deficits declined, that’s a big deal. By comparison they increased with Reagan, bushes, Trump... if they always declined debt would shrink as a percent of gdpSo what if deficits were lower? Overall spending increased and Clinton left a larger debt than he inherited.The first Bush raised taxes and then spending cuts lead to lower deficits during Clinton.It's all cumulative.And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.We've been running deficits almost every year since 1929Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...Even when the rich paid 70% the government never cut spending.And they pay drastically less in taxes. Tax cuts fuel big gov.It hasn't happened yet and the rich have owned our political system for 200 years.Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.All they know is the net.They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...Most tax payers have no clue what they actually pay in taxes.Tax payers will only pay so much before anger.But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.
Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.
Its an endless cycle that can only be slowed by decreasing the rate of spending.
You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.
People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".
When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".
The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.
I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.
Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people
If you give the government more revenue they will simply spend that too.
In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.
We are still paying for the deficits from 1929.
And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.
And don't try to minimize the effects of the tech bubble on revenues either.
Clinton just got lucky that that particular bubble didn't burst on his watch
You said increased taxes lead to spending cuts and they don't. All increased revenue does is give corrupt politicians more to spend and spend they will.
And like I said Clinton didn't decrease spending he benefited from the tech bubble and the additional tax revenues it brought in and he was just lucky enough that that bubble didn't burst until right after he left office.
You need to look at the whole picture not just the parts you cherry pick