Where is the US economy headed?

@okie,

Quote:

The money is gone, thanks to mostly Democratic Congresses.

Boy you wouldn't want to blame GOP Presidents and GOP Congresses as well, would you?

The ONLY fix is to raise income taxes to pay back the borrowed money from SS. Or you could replace income taxes with another general tax but you still would have to collect more money than the government spends.

2 Replies

@parados,

I said "mostly," parados. Of course, you conveniently read over that, didn't you? I do not absolve the Republicans of all guilt, but from over 50 years of observation of politics, I believe the Democrats are the biggest culprits of irresponsible spending. Incidentally, most Americans agree with me on that. I think it is fairly obvious to most people, parados.

Also, your statement that the only fix is to raise tax rates, that is absolutely silly. If you raise tax rates, it will only dampen the economy more, so that tax revenues could slump even worse. The equation has more than one variable. How many times does this simple point have to be pointed out to you before you grasp it? If your assumption was correct, we could simply raise the tax rate to 100% until problem was solved in a very short time, and everyone should know that would be silly.
http://www.rasmussenreports.com/public_content/politics/general_politics/october_2010/party_of_big_government_vs_party_of_big_business

"A new Rasmussen Reports national telephone survey finds that 51% of Likely U.S. Voters think it’s fair to describe the Democratic Party in Congress as the party of big government. Thirty-eight percent (38%) don’t think that description is a fair one."

3 Replies

@okie,

Quote:

I said "mostly," parados. Of course, you conveniently read over that, didn't you?

No, I didn't read over that.

And in fact you just confirmed what you are denying when you write this.

Quote:

I believe the Democrats are the biggest culprits of irresponsible spending.

1 Reply

@okie,

Quote:

Also, your statement that the only fix is to raise tax rates, that is absolutely silly.

When you can find where I said that okie, then you perhaps quote it. If you can't find it, then what is your usual crap.. Oh, that's right. you should apologize for lying about what I said.

2 Replies

@parados,

You are again twisting what I have said, which seems to be par for the course for you, parados. "Biggest culprit" is not a synonym of "only culprit." Republicans are also culprits or partly to blame for creating this entire mess or financial train wreck.

1 Reply

@parados,

parados wrote:

Quote:
Also, your statement that the only fix is to raise tax rates, that is absolutely silly.

When you can find where I said that okie, then you perhaps quote it. If you can't find it, then what is your usual crap.. Oh, that's right. you should apologize for lying about what I said.

Easy. Here is your quote:

Quote:

The ONLY fix is to raise income taxes to pay back the borrowed money from SS.

I think it is fairly obvious, parados, that when you say raise income taxes, you imply raising income tax rates, isn't that right?

I will be waiting for your apology when you are wrong, but of course you never do, so I will not hold my breath.

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@parados,

parados wrote:

(Post: # 4,394,461 ) The ONLY fix is to raise income taxes to pay back the borrowed money from SS. Or you could replace income taxes with another general tax but you still would have to collect more money than the government spends.

okie wrote:

your statement that the only fix is to raise tax rates, that is absolutely silly.

parados wrote:

When you can find where I said that okie, then you perhaps quote it. If you can't find it, then what is your usual crap.. Oh, that's right. you should apologize for lying about what I said.

0 Replies

@okie,

I never said you said "only culprit" okie.. Care to quote me or apologize like the decent human being you claim to be (Since you claim decent human beings would do that.)

2 Replies

@parados,

parados wrote:

I never said you said "only culprit" okie.. Care to quote me or apologize like the decent human being you claim to be (Since you claim decent human beings would do that.)

What is your game here, parados? Here is the truth about what you said, which you cannot deny, which shows I was correct.

parados wrote:

Quote:
I said "mostly," parados. Of course, you conveniently read over that, didn't you?

No, I didn't read over that.

And in fact you just confirmed what you are denying when you write this.

Quote:
I believe the Democrats are the biggest culprits of irresponsible spending.

0 Replies

@parados,

Actually, parados, I am almost to conclude you are not worth answering. Your arguments are illogical and intellectually dishonest. And it seems to be your consistent pattern throughout every thread I have encountered you on. Why should anyone waste any time on you here, that is the question?

1 Reply

@okie,

Quote:

If you raise tax rates, it will only dampen the economy more, so that tax revenues could slump even worse.

There's zero evidence that this is true, and history doesn't show that this is true. But you come to this answer because you are STARTING with the conclusion - That you pay too much in taxes already - and you cast about for evidence to support it. That's a bad habit.

You aren't looking at the situation objectively, but instead only considering the argument that you want to have answered; namely, a way for you to justify paying ever-less in taxes.

Cycloptichorn

1 Reply

@okie,

Don't listen to me okie. Your side can do a fine job of bankrupting the country while blaming everyone else.

1 Reply

@Cycloptichorn,

Cycloptichorn wrote:

There's zero evidence that [If you raise tax rates, it will only dampen the economy more, so that tax revenues could slump even worse] is true, and history doesn't show that this is true.

False! History does show it is true by showing that lowering taxes raises revenue!

Quote:

http://www.freerepublic.com/focus/f-news/2051527/posts
Highest and lowest Income Tax Rates 1971 to 2010
...
1971-1981: minimum = 14%; maximum = 70% [CARTER 1977-1981]
1982-1986: minimum = 11%; maximum = 50% [REAGAN 1981-1989]
1987-1987: minimum = 11%; maximum = 38.5%
1988-1990: minimum = 15%; maximum = 33% [BUSH41 1989-1993]
1991-1992: minimum = 15%; maximum = 31%
1993-2000: minimum = 15%; maximum = 39.6% [CLINTON 1993-2001]
2001-2001: minimum = 15%; maximum = 39.1% [BUSH43 2001-2009]
2002-2002: minimum = 10%; maximum = 38.6%
2003-2009: minimum = 10%; maximum = 35%
2009-2010: minimum = 10%; maximum = 35%[OBAMA 2001-2010]

http://www.whitehouse.gov/omb/budget/fy2009/pdf/hist.pdf
Year.......FEDERAL RECEIPTS FINAL FULL YEAR OF TERM
1980......$0.517 trillion [CARTER]
1988….…$0.909 trillion [REAGAN]
1992.......$1.091 trillion [BUSH41]
2000......$2.025 trillion [CLINTON]
2008......$2.521 trillion [BUSH43]
2010.......$2,931[OBAMA] (current estimate for year not end of term)

1 Reply

@ican711nm,

Read your numbers ican..
Clinton raised taxes from 31% to 39.6%
Revenues under Clinton went from 1.091 to 2.025, almost doubling in 8 years when taxes were raised.

In no 8 year period where taxes were lowered did revenues even come close to doubling.
Reagan - up about 20% over 8 years
Bush43 up about 25% over 8 years.

If anything, you numbers show that increasing tax rates increase revenues MORE than decreasing taxes ever can.

1 Reply

@parados,

Quote:

If anything, you numbers show that increasing tax rates increase revenues MORE than decreasing taxes ever can.

... and this is the point where sane people say, 'well, duh!' We don't need any fuzzy logic or stupid theories of how people react to taxation to satisfy the basic equation, that higher rates of taxation increases tax revenue collected. I mean, this is exactly what you would predict would happen based on the simple math of the equation.

Cycloptichorn

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Why is it that the US economy (Democrat controlled since 2007) has
gotten worse even after president Obama began ruling this country?

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@parados,

parados wrote:

Don't listen to me okie.

Okay, and you don't have to listen to me either, parados. Listen to Democratic president, John F. Kennedy. Watch the whole thing, and listen closely.

2 Replies

@parados,

Quote:

but you still would have to collect more money than the government spends.

Is that possible?
I dont ever remember a time where the govt had money they refused to spend.

2 Replies

@okie,

I tell you what okie.. Let's go back to the tax rate under JFK. Can you agree to that?

1 Reply

@mysteryman,

I am referring to not borrowing from SS funds. To balance the general fund the government would have to take in more than it spends since it currently is spending the $200 billion SS surplus.

0 Replies

Where is the US economy headed?

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