Kick the can down the road:
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Kick the can down the road:
| Wed, 07-20-2011 - 8:45am |
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I was around and earning an income during the Reagan era. He worked with the legislature to do as you are proposing now. Rates were cut as were many exemptions. Within a short time, the rates were increased, but the deductions were not restored for the people, instead many new deductions were created for large companies with political influence.
Repeating this tax reform again after only a generation would indicate we have forgotten the recent past.
As a separate section to my post, and as a question to you. If incomes are going down, why eliminate the AMT? That was the only part of your post which didn't make sense to me.
I disagree. Had both Bush and Obama failed to act to increase government spending in late 2008 and in 2009, there would be *no* economy. To look for boom when the goal was saving our arses is a bit of a misdirect.
Tom is correct in his assessment. On prior spending, I'll quible some with Obama and Bush in how we spent the dollars, but they needed to be spent, and pronto.
Where we really have to pay attention is the rhetoric from the right. We've had 30 years of trickle down logic, and all we've gotten for the effort is a trickle. Tax rates at the highest levels are low and can stand increase, but as Tom suggests, I'd phase them in.
Cutting SS and Medicare should be a non-starter. We can do a lot more by shifting our health care model.
Obama believes printing money and giving it to people is the cure for our economic system. If that is the case, why not print a million a month per person and drop it in our mall? Wouldn't you love a million a month, wouldn't your neighbors. Imagine a million a month for every kid, wouldn't it be heaven.
You indicated not wondering about debt and mentioned the data isn't conclusive. This isn't the case. The result of too much debt is hyper inflation, followed by a collapse of most services. The pain would last long, and our country for generations would be impoverished.
The Republicans don't have clean hands on this. Unfortunately the Democrats have a blood lust for overspending, to the point it jeopardizes the future of our culture imo.
Google "eat the rich" (without the quotes) or search for the video on youtube. Skip the first minute or so, it's a pointless rant, just look at the numbers. We can't tax our way out of this mess.
Is this what you would do in your own house if your bills started to go up and your income went down?
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