Why we can't afford tax cuts

by SixofNine 80 Replies latest social current

• 

  Francois

  Balderdash. This is the same tired old leftist pap we get every time there is talk of a tax cut. "How we gonna pay for it?" "We can't afford no tax cut."

  You don't "pay" for a tax cut, nor is it proper to make reference to "affording" a tax cut. What you do is you don't allow that money-sucking octopus on the Potomac to confiscate all the money it wants from me and you and instead make it live within the means we give it through our represenatives and senators. It's called representative democracy. We tell 'em "this much and no more, we're keeping this much more money for ourselves - you go pound sand you profligate assholes."

  That's how you do it.

  francois
• 

  SixofNine

  You don't "pay" for a tax cut, nor is it proper to make reference to "affording" a tax cut.

  As the expert who wrote the above article (an expert who, btw, has an absolutely stunning record of being right where finances are concerned) pointed out, someone indeed does have to "pay" for a tax cut. Hence the numbers.

  Also, in fact there is no "leftist pap" to be found in the above article. Perhaps you should actually read it and learn from it Francoise. No, it won't make you a more creative writer, after all, the poor man is a financial issues writer, he doesn't get to say things like "you go pound sand you profligate assholes.", but it might make you a more accurate one.

  I know you fancy yourself a straight talker, Francoise, but you should learn on the knee of a man like Scott Burns. His straight shooting "wisdom" has to actually mean something and be based on facts.
• 

  jelly

  The problem with arguments like these is that both sides can put forth an honest argument so many people will eventually just see what they want. It is very true that high taxes will retard economic growth, and under some conditions a tax cut will act as an economic stimulus helping the economy grow (Kennedy, Reagan). As an economic conservative myself I am having trouble with this tax cut. What the government must do is cut spending, and then cut taxes. Not cut taxes, stop spending and then hope the economy grows out of the deficit. Seems like a little bit of the horse before the cart here.
  
  Terry
• 

  SixofNine

  The problem with arguments like these is that both sides can put forth an honest argument

  You make good points Jelly. However, when the problem gets this big, one hopes there would no longer be "sides", as one would hope that people would have enough intelligence to take the words "liberal" and "conservative" and shove them up their agenda enlarged assholes, eh?

  What the government must do is cut spending, and then cut taxes. Not cut taxes, stop spending and then hope the economy grows out of the deficit.

  I agree, they should at least be held to that standard with every budget put forward. However, I don't know that any credible source even speculates that the most robust of economies can "grow out" of a 49 trillion dollar hole. 3.8 trillion, perhaps.
• 

  Bendrr

  Six I don't dispute that our government, you and I actually, are way in the red.

  What I do take issue with is the term "we can't afford tax cuts". What we can't afford is to continue placing the majority of the tax burden on a minority of income earners. I'm not up on the current figures, I'm sure Francois is and hopefully he'll back me up, but last I heard the top 50 percent of income earners were paying well over 90 percent of the tax burden and the top ten percent carried 70 percent. What we can't afford is giving so many people a free ride on the backs of the rest of us.

  Mike.
• 

  Yerusalyim

  Some would argue that the economic growth of the 90's was made possibl only by the tax cuts of the Reagan Administration.

  You mentioned short sightedness...I see that on both sides of the aisle. The basic facts are that a tax cut today will not have effects until four or five years down the road, and longer.

  I was oppossed to the first tax cut...in general...I supported the most recent one...in general.

  The marriage penalty...done away with (hopefully for good).

  The death tax should be put away for good.

  We should go to a simplified tax plan, I would prefer one rate for all, but would settle for three tax rates.

  Eliminate tax loopholes and set one rate for everyone...dropping a lot off the bottom. Then the key is, ONLY SPEND what you take in...something both sides of the aisle have forgotten.

  A congressman from Alaska, a Republican, is proposing a 5% increase in the Federal Gas tax. Write your congressman and tell them to stop this measure. This hits working class families hard.
• 

  Simon

  Don't worry, you can always convert your dollars into Euro's ... it probably won't be too long before it reaches parity
• 

  patio34

  Well one possibility for the tax cuts is that it will in fact bankrupt the system, and then the social programs can be deleted (Social Security, Medicare), which is what some feel that is the goal of the current administration. Of course, it will be a disaster for many in the nation. And on the flip side, the argument can be made that we DO have a welfare state: for the rich.

  I don't understand the arguments that things can continue the way they are. The money has to come from somewhere. The states are in deep financial crisis now. The only way to cope is to cut services. Teachers are being laid off, government programs are being cut, mental health services are cut way back in my area.

  This is what the war and tax cuts are costing the average citizen. But not the rich.

  Simon, your point about the Euro is very important too, I think. If the Euro gains more power, the US may become a second-rate power and then maybe it'll stop its militarism, that is breaking the backs of Americans.

  Pat
• 

  patio34

  I forgot how to do the edit feature.

  Just one more point that the US is a democracy. It seems that Bush et al is not managing our government and our money very well. The administration is doing things that are blackening the name of my country in the world. It's causing my country to start going downhill in caring for its middle-class and poor and elderly citizens' needs in favor of caring for corporate interests and wealth for corporate America.

  I really hope the American people vote this administration out of office in '04 in favor of a candidate who will better care for the citizens' interests.

  It can happen is for more Americans to become aware of both sides of issues and read more than American news, and become more politically active.

  Peace to you all,

  Pat
• 

  ashitaka

  I really hope the American people vote this administration out of office in '04 in favor of a candidate who will better care for the citizens' interests.

  Me too. Anything is better than living in fear of an incompetant, brutal government made up of Good 'ol boys who care only about their own personal conquests, and their own pursuits of riches (ahem, Harbourton).

  ash