Does America have a Revenue (Taxes) problem, or a Spending problem?
http://www.reuters.com/article/2011/08/04/us-usa-e...
http://en.wikipedia.org/wiki/2011_United_States_fe...
2009 IRS Tax >Update:
LIBERALS.. are you even looking at the Data I supplied?
Comments
Hi.
Mostly it is a spending problem. The thing is that if the taxes are lowered the income of the government would increase because the cake would get bigger.
We have both.
What you are not looking at this the fact that the tax credit that is supplied is NOT PAID FOR. meaning that for every dollar we credit them back is a dollar that goes towards the deficit.
No one said that taxing the rich was the ONLY way to go. But if your boat is sinking you have to stop the leaks. THIS IS A HUGE LEAK. In fact stopping the TAX credit would save us the same amount of money as cutting all of our social programs in the ryan budget.
What I find so interesting is while screaming about how bad spending is... non of you wan to get rid of one of our most wasteful programs... because the reason for these tax credit was so that the money would trickle down to the common man and would promote job growth.
Our current economic situations proves that the program dose not work. But instead of fixing something as easy as that you would rather take away grandmas medicare.
Also say your logic is flawless and it only keeps the government running for about 6 weeks. That is 6 weeks longer then with out it. That is 6 weeks we didn't go anther 3,820,000,000,000 in debt. And if you really cared about the debt and were not using it as a political tool. that would be a good thing.
No. It doesn't have either - - or maybe it has both, but they're not the most important problem.
America has a CAPITALIST economy that repeated falls into recessions -- business slumps -- that can linger indefinitely when they get too deep.
To get out of those business slumps, most US presidents from Franklin D. Roosevelt through George W. Bush and Barack Obama have run up big federal deficits. They've made sure that the government's revenues do NOT match its expenditures.
And by borrowing money from today's taxpayers (and essentially paying it to Wall Street investors who buy government bonds), they've used debt-financed spending to jolt recessed economies to life again -- by injecting cash and credit into them.
Republican and Democratic presidents do this not because they're trying to bankrupt tomorrow's taxpayers, but because that's one of the best ways of getting a stalled economy growing again. And they ALL do it -- ALL, or nearly all of them.
It's true that Republican presidents -- Nixon, Reagan, and GW Bush -- usually offer a different excuse for deficit spending than Democrats.
The Democrats pretend that the government must spend money it doesn't have to wage a "war against poverty."
The Republicans often prefer to go deeply into debt just to wage "war," period. Both Republicans and Democrats also tend to boost the size of the government spending by reducing taxes and cutting government revenues in times of recession.
That often looks crazy to the average American citizen, but it ensures that the government will spend more money than it takes it -- thus making a net addition to "effective" purchasing power in the economy, and helping capitalist demand come into balance with capitalist demand again.
In this way, the federal government through injecting borrowed money into the markets jump-starts "consumer demand," which supports about 2/3 of our economy.
This means that both Democrats and GOP work to ensure that revenues and spending do NOT balance. The fact that they don't balance isn't really a "problem" for either the Dems or the GOP. It's part of the design, part of what's supposed to get a stalled economy growing again.
We have a jobs problem. All the bluster about spending and revenue is a distraction from the more urgent need for quality jobs in the United States. Democrats apparently don't know how to create jobs and Republicans don't want to, so they changed the subject.
PLUTO C RAT: Your Moronic answers never cease to amaze me, and it's the same old tired drivel that NEVER has any data to support the sewage you are spilling out of your pie hole. You are nothing but a spoiled and failed Human being, that resents anyone that can live and flourish in the United States.
Although I do agree that the middle class does pay for more of the poor class's bills and taxes, because 40% of these couch dwellers pay NO TAXES AT ALL, I do BELIEVE ( the operative word here) the top 5% of the wage earners pay more than half of the tax bill for this country. We do have a class war fare problem as well as a spending problem, it is just aimed at the wrong people by propagandists such as yourself who are JEALOUS of the fact he is NOT RICH................................
Here is a Heritage Foundation chart (I know, I know. Those liberal bastards...)
2009-2011, tax revenue is below 15% of GDP. The lowest level since Eisenhower was in office.
That's definitely a revenue problem.
We have a spending problem, extra revenue does nothing to solve a government that can't set a budget and live within its means.
If you got a pay cut, or lost your job, would you have a spending problem, or a revenue problem? If you want to continue spending as before, you can either take your chances demanding more pay, or your job back (both unlikely), or reduce your spending to stay afloat.
More specifically, the US has a US richclass problem...
All are fully aware that only US working class pays the bills for supporting both US richclass and US poor class. And all are fully aware that only US working class pays the bills for supporting US poor class to the direct enrichment of US richclass. Moreover all are fully aware that US richclass creates and maintains a US poor class -- for the design purpose of exploiting US working class.
US richclass pay little to nothing in contribution -- while collecting nearly the total of US working class tax coffers into their private accounts. Naturally, here's how US richclass does it...
US richclass oppresses society by corralling all economic opportunities of the land, and exclusively withholding and apportioning those opportunities according to slave trade practices. As the result, a massive US poor class is by design created. US richclass legal industrial complex prepares a system of laws under which US richclass evade taxes, while US working class carry the brunt of tax liability. Then, the taxes that US working class pay is given over to US richclass corporates who provide “services” to the US poor (at huge exploitative profits -- for example, food stamps issued at US working class expense to feed the poor put exploitative profits in the pockets of US richclass food industry, and Medicaid issued at US working class expense to serve the poor put exploitative profits in the pockets of US richclass pharmaceutical and medical industries). Summarily, US richclass get richer than richer than sh@t just through the existence of US poor class, and directly at the expense of US working class.
Voila! That's why many US working class are so bent on destroying the US poor. So what if killing the symptoms doesn’t eradicate the disease? Can US working class be expected to be as sly and crafty as US richclass PHARMACEUTICAL INDUSTRY?
How badly does your back hurt -- and what's the cause of your back problems? You're not aware that upon your back you carry both the weightiest richclass in world history AS WELL AS their massive created poor class? It's a wonder you can gather up even another step under such a load...
@Here';s some data supplied for you. You'll need 3-D glasses...
http://www.usdebtclock.org/
@onegrtch...
"PLUTO C RAT: Your Moronic answers never cease to amaze me, and it's the same old tired drivel that NEVER has any data to support the sewage you are spilling out of your pie hole... Although I do agree that the middle class does pay for more of the poor class's bills and taxes, because 40% of these couch dwellers pay NO TAXES AT ALL, I do BELIEVE ( the operative word here) the top 5% of the wage earners pay more than half of the tax bill for this country."
GOT ANY DATA to support your drivel?
And thanks for agreeing with me. That must have been hard. I'll just point out that you agreed far more than you realize...
"That's why many US working class are so bent on destroying the US poor. So what if killing the symptoms doesn’t eradicate the disease?"
YOU'RE US working class doing exactly what I prescribed -- YOU'RE attacking US poor class.
Spending problem because tax revenue change but making a sound budget is what smart households do. We expect the government to do the same as smart households do.