@okie,
okie wrote:
Cycloptichorn wrote:I'm still waiting for an explanation from you, as to how you would balance the budget, cut taxes, and pay down the debt all at once. Specifically. What programs would you cut and in what amounts? What tax rates would you cut and in what amounts?
Cycloptichorn
It would be a long process, but could eventually do it by growing ourselves out of the hole.
Has this ever happened before, in the history of America?
Quote: Cutting spending would be at the top of my list, along with targeted tax cuts to stimulate the economy, which could at least maintain close to current revenues if not grow them.
How do you figure that tax cuts will maintain 'close' to current revenues? The definition of cutting taxes is that revenues are cut. Once again, can you point to any time this has happened historically?
Quote: One of my first targets would be a few federal bureacracies, such as Department of Education, Department of Energy, Department of the Interior, the Ag Department, and on down the list.
You would cut these entire departments? Or just the parts of them you don't like. Be more specific please.
Quote:
I would look at a federal hiring and wage freeze as well, no more automatic raises.
What about cost of living/inflation raises? This is essentially what private sector employees get; should public employees get that as well?
Quote:I would examine the federal budget and bureaucracy from top to bottom. We know it can be done, because Gingrich was successful in the 90's. The biggest factor however is a healthy economy that will deliver tax revenues from existing or lower tax rates. Raising tax rates will only bring further stagnation of the economy. I think we are already near the peak of the Laffer Curve.
Well, our economy grew for something like 40 straight years with a top tax rate almost double the current one, so the idea that we are near the peak of the (idiotic) 'curve' is ridiculous and unsupported by data.
I would remind you that without Clinton's tax raises, Gingrich's work in the 90's would
not have lead to a balanced budget in any way, shape or form.
Quote:To really get serious about this, I would seriously push the National Retail Sales Tax, which has the potential to unleash a tremendous burst of growth into a much more productive and competitive United States.
Mmm hmm. It also potentially saves the rich huge amounts, which is why I suspect you are for it.
Well, you've done more than any other Conservative here, but you still haven't really addressed the issue that you
cannot grow your way out of deficits and debts by cutting taxes. Can't be done and no economist thinks it can be. When you cut taxes you ADD to the deficit. When you cut spending you MIGHT be able to balance the budget at the new lower level. But then how would you address paying down the debt? It's over 10 trillion dollars now; we won't be able to service it without having hundreds of billions of dollars of extra revenue, which has to come from somewhere.
This idea that Conservatives have, that cutting taxes and cutting deficits and debts are compatible? It defies all logic and indeed mathematics itself. It truly is the Underpants Gnomes theory of economic activity - that we cut taxes, something 'magically' happens, and then receipts rise! It just isn't true.
Cycloptichorn