All these unfunded entitlements are designed to destroy the US so Socialists can take over... I wonder if there is anything that can be done about that?
Rich people move money away from taxable vehicles. If you cut taxes, rich people will make money more fluid. Rich have 3 choices to put there money for example 1) Muni bonds(tax free)Municipality creates project, revenue neutral 2)pay taxes(give to government, government give to China or seniors, or welfare. 3) Invest in business.( produce or sell product..ie create taxable goods) hire employees( each worker pays taxes) Park cash flow in local bank(bank lends out at 10 to 1 ratio) Seems like number 2 has least impact
You are wrong.. Bush tax cuts increase the revenue, his problem was his spending mania. When Gingrich balance the budget in the late 90's, was due he cut spending on Defense (by 250 billions) Tax revenues in 2006 were 18.4 percent of gross domestic product (GDP), which was actually above the 20-year, 40-year, and 60-year historical aver_ages. The inflation-adjusted 20 percent tax revenue increase between 2004 and 2006 represents the largest two-year revenue surge since 1965-1967. In 2003, capital gains tax rates were reduced from 20 percent and 10 percent (depending on income) to 15 percent and 5 percent. Rather than expand by 36 percent from the current $50 billion level to $68 billion in 2006 as the CBO projected before the tax cut, capital gains revenues more than doubled to $103 billion.
You are 100% right on this! Most people here on ET dont even know what socialism is.. The new Health Bill is not socialist compared to what the rest of the world have.. We will have a Health Exchange, also there is no "public option" in the bill.. But It's unconstitutional to force people to buy insurance and that will be a problem in the future, also the spending and taxes will increase. But it's also unconstitutional to invade other countries for nothing or pay taxes and we do that every year.
Hey tools on the left, you do realize you have optional on your side of the argument? There is something to be said about the quality of people you associate with. The singularly contemptable loser, who thinks he knows something, didn't even understand the basics of the bill before spouting off his usual tripe, all our personal costs are about to go up to pay for this POS bill. To make an argument about passed-on cost is plainly stupid. Personal bankruptcy in such a sob story... well I guess failed traders should start to cry in front of congress about their personal tribulations. I'm sure Obama would cut them a back room deal for their vote. can you believe some fucktards use misspelling as an attack? Let me guess, these same empty minds support the reform bill...
Yes, and when all those with money leave (and I certainly don't mean those in this thread who threatened it!), who will fund your programs? Oh wait, you don't care about that, right? California here we come!
That's easy, let the tax cuts expire, cut wasteful millitary spending and rest will take care of itself. All these 'social' programs contribute far less to the deficit than all the 100million a year radio hosts want you to believe.