Replies: 14
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Commissioner [942]
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Posts: 2479
Joined: 6/2/11
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The U.S. and probably the rest of the developed world
Aug 11, 2012, 1:53 PM
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is in the economic mess we are in because we, as human beings, want it all. And our preference is to want it all for nothing or close to nothing.
The highest tax rate:
in 1932 was 63% in 1963 was 91% in 1964 was 77% in 1986 was 50% in 2012 is 35%
I'm not advocating higher taxes for the rich, for the middle class or for the poor to start paying taxes. What I am saying is that we can't have it all. We can't have "Lamborghini" Federal programs without paying for them, in some way. Somebody has to pay.
I have a feeling that the Fall campaign for President will evolve around all this.....Taxes AND Defense, Medicaid, Medicare, and Social Security. And frankly, it's about time.
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Rock Defender [54]
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Medicaid, Disability and Welfare need SERIOUS reform
Aug 11, 2012, 1:59 PM
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They are going to bankrupt our country.
I am looking for any candidate that will do somethign about these programs.
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Commissioner [942]
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Medicare and Social Security need reform too. Don't you
Aug 11, 2012, 2:00 PM
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agree?
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Zealot [793]
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Oculus Spirit [83133]
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And public floggings for the people who vote for them***
Aug 11, 2012, 6:01 PM
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null
Message was edited by: josephg®
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Heisman Winner [111709]
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Heisman Winner [111709]
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Re: your stupidity wasn't missed the past 2 weeks.
Aug 11, 2012, 8:25 PM
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wait, you said Medicaid, my bad.
That whopping 10% we spend on disability, medicaid and welfare combined must be bankrupting us.
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Legend [15749]
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I don't understand your comment. The combined
Aug 12, 2012, 4:54 PM
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spend on Medicare, Medicade and Social Security represents about 42% of the federal budget. Where are you getting your numbers?
This mindset that any program is "too small to worry about" is crazy, and certainly does not apply to the entitlement programs. Anything that we can cut should be cut. I don't care if it has a $4,000 annual budget.
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110%er [6155]
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What we need to do is quit "saving" the rest of the world.***
Aug 11, 2012, 2:12 PM
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Oculus Spirit [83133]
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I'm almost ready to agree but so much is happening
Aug 11, 2012, 6:00 PM
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In Africa and the Middle East as far as new govts emerging, and foreign aid to these countries is part of the war on terror.
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Orange Blooded [4098]
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Oculus Spirit [97751]
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Re: The U.S. and probably the rest of the developed world
Aug 11, 2012, 5:33 PM
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While you have a point, there is no current tax rate or a series of past tax rates that can cure our debt problem. If we kept that 91 percent tax rate we would still have a debt crisis now. Our GDP would not be close to what it is now so the revenue would not be there anyway.
We have a spending and specifically an entitlement problem. Spending has nor been cut in my lifetime and the people are as much to blame as anyone
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Commissioner [942]
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Most economists will tell you that we can't solve our debt
Aug 11, 2012, 7:18 PM
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problem by spending cuts alone. They say we need some combination of spending cuts and tax increases. Certainly the steep tax cuts we have been provided over the past 50 years says we have room for some tax increases to contribute to the elimination of our debts. There is no doubt that the many tax cuts we have had have contributed to our debt. Even if we cut government spending alone, that would negatively impact GDP, just as tax increases would. Either way, it is going to be painful. But, the debt problem will not be solved without a combination of both entitlement cuts and tax increases.
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Oculus Spirit [97751]
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I agree. Taes will have to go up. But I'll be ###### if
Aug 11, 2012, 8:37 PM
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I will pay more taxes before someone makes some serious cuts. When Congress shows me they're ready to make serious spending cuts, THEN they can come to me and ask for some serious taxes. And I'm talking something in the range of a 2 to 1 or 3 to 1 ratio, because that's what it will take.
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All-In [40938]
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Replies: 14
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