@Cycloptichorn,
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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?
It has to happen that way. You will not reduce deficits or the debt in recessions wherein the economy quits churning out the tax revenues at a healthy level. That is why I assert that any deficit reduction policy must incorporate a healthy and growing economy.
Quote: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?
Again your ignorance shows. Tax revenues are not directly proportional to tax rates, because tax rates affect the economy. This is elementary, so you need to brush up on this , cyclops. It is similar to a retailer that makes a decision about raising his prices, he cannot assume that he will sell the same number of units at a higher price, that is utterly ridiculous, but that is exactly what liberals like yourself do here all the time. Surely you must know that Sam Walton built the Walmart empire by not raising prices to increase gross sales, but he instead reduced prices to the bare bone and made a fortune by selling much higher quanitities. The same principle applies to tax rates to some extent, not entirely, but part of that principle is always part of the equation. We have argued the Laffer Curve numerous times, but you still have not caught on to the principle of it.
And to repeat, JFK and Reagan both increased tax revenues by lowering tax rates. This is history.
Quote: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.
Perhaps not, for sure not in the case of all of them. But the Department of Education is one big one, it should go to local people, the people that care about their children, its time for the locals to pick up the slack, and besides, alot of waste occurs in Washington, and that can be eliminated by shortening the route of how the money finds its way into the schools. The cost of education is out of control, and it needs fixing.
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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?
No. The government is broke. How many ways do you need to be told, the government is broke, it cannot afford any more cost of living raises. Besides, not all private sector get raises regularly, no way.
Quote: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.
No, not the reason. I am for it because the IRS is a total disaster, and with the retail sales tax, we suddenly collect tax from illegals, drug dealers, and other criminals that operate under the radar. Rich people still would pay alot more tax. We can also exempt food, and also housing under a certain threshold. It would be simpler and we already have the infrastructure to collect the tax, as almost every state operates by collecting retail sales tax already. By taxing purchases instead of productivity, we place foreign goods on the same playing field with domestic, plus it places alot more money into peoples pockets to begin with. By eliminating taxes on businesses and productivity, not only our economy booms, but our exports would skyrocket, thus providing more jobs and growing the economy, it would be a domino effect in a postivie way.
Quote: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.
That is the only way to get out of debt. You will not do it with a shrinking economy. No sane person solves his household budget by spending more and working less. You have to combine more work with less spending, this is simple common sense, which I guess Democrats do not have?
Do you have any idea what they actually DO? Or are you just a fan of eliminating them, because you don't understand?