@slkshock7,
Quote:
As for your question on tax hikes, please give me a break. Per the CBO, the millionaire's tax proposed by the Dems will raise $450B over ten years. Meanwhile we're facing a $15T deficit. It would take decades to reduce the deficit on the backs of millionaires alone.
We have a 15T debt. Our Deficit is about a trillion a year at this point. This is mostly due to tax receipts which have been severely depressed due to the recession - NOT due to an explosion of spending under Obama. You are correct, though - the problem cannot be solved by taxing the rich alone.
slkshock7 wrote:You've actually well proven my point on the Dem definition of compromise. Dems like you state "The quickest and most effective way to reduce the deficit is obviously tax hikes on millionaires ... don't you agree?
I don't agree with that in the slightest. Tax hikes on millionaires, while appropriate, don't do enough. The truth is that we need tax hikes on EVERYONE - and it's also appropriate for all Americans to share in the sacrifices necessary to close our budget gaps.
I have long held the position that we should return to the Clinton tax rates, for all brackets. This would raise an additional 3.7 trillion dollars over the next decade, and would do more to close our budget gap than any other action we could take.
Quote:What did you say? "Broadening the tax base"? BS...that'll never work. It's obvious to the most casual observer that tax hikes are the only solution. It's only because of your stubborn uncompromising attitude that you refuse to see that nothing will work except for tax hikes."
'Broadening the base' is fine, as long as the net effect is higher revenues. When Republicans talk about it, however, it's always in conjunction with lowering rates to levels which would NEVER be covered by base broadening. That makes those of us on the other side of the fence suspect that the point is really just to let rich people pay less in taxes. When I see Ryan proposing a budget that does exactly that, and then refuse to name the deductions they are going to limit or eliminate in order to pay for the lower tax rates, it only confirms those suspicions.
The truth is that right now, we need to raise taxes somewhat off of their current historical lows, while reigning in spending. We've done the latter to a certain extent, and credit for that goes to the GOP Congress, who has done a good job stopping spending from increasing these last few years. But it's not enough and won't be enough to get us out of the hole we are in.
As a Liberal, I like a larger government that does more to help those in need. I don't want to see spending cut. In a perfect world, I wouldn't be calling for spending cuts. But we're not in a perfect world, and we all need to look past our ideological preferences and settle on something that works. Freezing domestic spending, cutting military spending by 10% for the next two years, and allowing the Bush tax cuts to expire would balance the budget in just three years. Small changes to medicare and SS would allow those programs to remain solvent for many years to come. THIS is what compromise looks like - both sides of the fence agreeing to certain things they don't want, in order to provide a path forward for our country.
Cycloptichorn