How big is a trillion???

[Hellcats]

By assuming tax cuts are the problem you have the mind set government is entitled to our money. Government has no money it's citizens money. Even if there was a revenue problem which there wasn't . It's the government's job to cut spending not increase it.

 

Again stick to a topic you understand.

 

I'll do my best :notworthy:

 

Taxes can't be cut if you want the debt down.

[Twotoplace]

By assuming tax cuts are the problem you have the mind set government is entitled to our money. Government has no money it's citizens money. Even if there was a revenue problem which there wasn't . It's the government's job to cut spending not increase it.

 

Again stick to a topic you understand.

I doubt if you have been following the tax debacle taking place in Kansas under the GOP governor and GOP state legislature. It's a script for a horror movie:

 

1. Give business owners huge tax breaks. This will spur more business investment in the state. All kinds of businesses, for example, will move from Kansas City, Mo., a few miles west to Kansas City, Kan.

 

Wrong. Hasn't happened. (And state spending, by the way, has been cut to the bone.)

 

2. Make up the lost business revenue by increasing the state sales tax -- in essence, transferring the revenue burden from business to the average citizen.

 

Correct. This has happened.

[Cardinals2745]

Total Credit Market Debt as a Percent of GDP

 

Neither has helped our country.

 

Total credit market debt to GDP is where to focus. The bubble is getting reinflated and we will have an even bigger collapse when the next President takes over.

 

 

To continue my point, look how high we are historically still with relation to even the beginning of the Great Depression.

 

We are nowhere near out of the woods, yet.

 

[ggclfan]

By assuming tax cuts are the problem you have the mind set government is entitled to our money. Government has no money it's citizens money. Even if there was a revenue problem which there wasn't . It's the government's job to cut spending not increase it.

 

Again stick to a topic you understand.

 

Also, people make a mistake assuming tax "rate" cuts means less income for the government. Often, a tax rate cut means a spur in economic growth and more income for the government. Also, when we hear about spending "cuts", it does not mean a cut like ANYONE else. The way the US govt defines it, if you increased spending by 3% one year for a category and then increase it 2% the next year, it is a 1% cut. Total lie. The spending still went up 2% the second year but politicians will scream we cut spending. If ANY BUSINESS did its accounting like the US govt, the executives at the company would all go to jail...seriously. The politicians make the Enron execs look like stand up businessmen...

[LIPTON BASH]

Also, people make a mistake assuming tax "rate" cuts means less income for the government. Often, a tax rate cut means a spur in economic growth and more income for the government. Also, when we hear about spending "cuts", it does not mean a cut like ANYONE else. The way the US govt defines it, if you increased spending by 3% one year for a category and then increase it 2% the next year, it is a 1% cut. Total lie. The spending still went up 2% the second year but politicians will scream we cut spending. If ANY BUSINESS did its accounting like the US govt, the executives at the company would all go to jail...seriously. The politicians make the Enron execs look like stand up businessmen...

 

Shhhhh that means you have to have taken an Economics class and not learn economics on media matters.

 

Tax cuts can spur econmic growth. Either by increased revenue from increase spending or earnings. It does mean government should also cut spending. Which some GOP members forget. But to say tax cuts are the problem is just nonsense. Government also needs to learn to spend with what they have.

 

Nothing drives me more nuts than people who act like the debt doesn't matter or people who don't understand the difference between the debt and surplus.

[Hellcats]

I doubt if you have been following the tax debacle taking place in Kansas under the GOP governor and GOP state legislature. It's a script for a horror movie:

 

1. Give business owners huge tax breaks. This will spur more business investment in the state. All kinds of businesses, for example, will move from Kansas City, Mo., a few miles west to Kansas City, Kan.

 

Wrong. Hasn't happened. (And state spending, by the way, has been cut to the bone.)

 

2. Make up the lost business revenue by increasing the state sales tax -- in essence, transferring the revenue burden from business to the average citizen.

 

Correct. This has happened.

 

According to a Congresional Research Group study, what is happening in Kansas is the way tax cuts have played out over history. While they may not be this bad the study found that tax cuts often decrease economic growth with business stashing their money rather than investing. Ironically tax hikes were somewhat responsible for spurring economic growth with businesses hiring and investing to attempt to decrease their tax liability.

The one thing the tax cuts definitely did was add to the ever growing income gap.

[Jumper_Dad]

Not completely related but also not completely unrelated either...in Greece today you are limited to a $66 withdrawal from your bank account...Greece is close to collapsing economically.

[Lawnboy13]

I'll do my best :notworthy:

 

Taxes can't be cut if you want the debt down.

 

Sure they can, you stop spending on wasteful programs and cut back the spending on others. However, politicians kick the can down the road without a second thought of the consequences.

[Cardinals2745]

while our country continues to argue which way is better

 

Our country has leveled out the total credit market debt to gdp ratio and are about to reinflate it. We never hit a true bottom.

 

Wait til we do.

[ggclfan]

According to a Congresional Research Group study, what is happening in Kansas is the way tax cuts have played out over history. While they may not be this bad the study found that tax cuts often decrease economic growth with business stashing their money rather than investing. Ironically tax hikes were somewhat responsible for spurring economic growth with businesses hiring and investing to attempt to decrease their tax liability.

The one thing the tax cuts definitely did was add to the ever growing income gap.

 

That's a new one (and pure garbage). Someone is trying to sell the idea that businesses hire and invest more when they have less money to do so (because of a tax hike) to decrease their tax liability...what?!?!? Seriously, say that out loud and try not to laugh. Any business person who thinks like that won't be in business very long.

[LIPTON BASH]

According to a Congresional Research Group study, what is happening in Kansas is the way tax cuts have played out over history. While they may not be this bad the study found that tax cuts often decrease economic growth with business stashing their money rather than investing. Ironically tax hikes were somewhat responsible for spurring economic growth with businesses hiring and investing to attempt to decrease their tax liability.

The one thing the tax cuts definitely did was add to the ever growing income gap.

 

This post is littered with so many false assumptions. Come on .

[ggclfan]

Shhhhh that means you have to have taken an Economics class and not learn economics on media matters.

 

Tax cuts can spur econmic growth. Either by increased revenue from increase spending or earnings. It does mean government should also cut spending. Which some GOP members forget. But to say tax cuts are the problem is just nonsense. Government also needs to learn to spend with what they have.

 

Nothing drives me more nuts than people who act like the debt doesn't matter or people who don't understand the difference between the debt and surplus.

 

Well....I actually have a Bachelors Degree in Economics so yes, I have taken an Economics class or 10 not taught by Media Matters:)...

[Cardinals2745]

We need to cut spending and increase taxes to balance the budget and reduce the debt.

[Lawnboy13]

We need to cut spending and increase taxes to balance the budget and reduce the debt.

 

If you feel more taxes is the answer, you're more than welcome to write an extra check to Uncle Sam to help reduce the debt.

[Cardinals2745]

If you feel more taxes is the answer, go right ahead an write an extra check to Uncle Sam to help reduce the debt.

 

I would make a deal with the IRS if they would guarantee a one-time payment for no more taxes for the next 3 generations of my family.