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How much is enough?

SmilinSilhouette

Registered Member

ExpectantlyIronic

e̳̳̺͕ͬ̓̑̂ͮͦͣ͒͒h̙ͦ̔͂?̅̂ ̾͗̑
That's marginal tax rate--or the tax applied to the last dollar of a persons earnings--just to be clear. We aren't talking 62% of a persons entire income. As far as the question in the OP is concerned, though, I'd just say that the current tax rate clearly isn't enough, given the nations debt troubles. Though, I'm on the fence about whether we should wait until unemployment numbers look better before raising taxes.
 

SmilinSilhouette

Registered Member
Really? My wife and I already pay around a third of our income in income taxes and we make less than $100K combined. That doesn't count sales, property, gas, etc., etc.

When does not spending what we don't have come into the equation?
 

ExpectantlyIronic

e̳̳̺͕ͬ̓̑̂ͮͦͣ͒͒h̙ͦ̔͂?̅̂ ̾͗̑
I don't think we can balance the budget with spending cuts alone, or at least it would be a disaster to try. A change to the top tax rate wouldn't effect you, though, in any case. I mean, we have all benefited quite a bit from our countries borrowing, and really should have been a lot slower to squander the Clinton surplus, but alas, eventually we are going to have to pay the piper. Simply cutting social security and whatnot really isn't going to cut it, and really why should we throw the entire burden of all this on the elderly and disabled and whatnot, and family members thereof? There are going to be cuts, and there are going to be tax increases. At least, if we want to deal with this appropriately.
 

SmilinSilhouette

Registered Member
Why do we have to spend $1,600,000,000,000.00+ more than we have? Why should I buy into "well, it doesn't hurt ME so why should I care?". I can tell you when the top rates increase so will mine. The "Clinton" surplus was not a result of Clinton, and it should be the taxpayers surplus.

Not to mention, lower taxes spur growth and increase revenue to the government.
 

ExpectantlyIronic

e̳̳̺͕ͬ̓̑̂ͮͦͣ͒͒h̙ͦ̔͂?̅̂ ̾͗̑
How are we supposed to pay off the debt without a surplus? Let's be realistic here. Taxes are the government's source of revenue. If you cut revenue every time it exceeds spending, you will never pay off your debts. That's just the cold facts.
 

Dekzper

Registered Member
Taxes are one of the government's sources of revenue. It also owns and operates the USPS and a lot of foreclosed farms etc.
What I'd like to know is how the government managed to get more than a trillion dollars in debt. Another question I have is this. The economy was sinking when the debt went to over a trillion dollars and it's still not good. Why didn't the more than a trillion dollars save the economy?
 

ExpectantlyIronic

e̳̳̺͕ͬ̓̑̂ͮͦͣ͒͒h̙ͦ̔͂?̅̂ ̾͗̑
We don't buy aircraft carriers by selling stamps. :)
 

SmilinSilhouette

Registered Member
@ Dekzper: $1.6 trillion is just what we overspent this year, not the total spending. And that is just for 2011 and doesn't include the $1.5 trillion we had to borrow the previous year. Total US debt is over $14,351,000,000,000.00

@ EI: When was the last aircraft carrier put into service? When is the next due? At what cost? How many could be purchased with just this year's deficit spending?(100?)
 

Dekzper

Registered Member
@ EI. People have become multi-billionaires selling software. If I had a business as massive as USPS - and a little imagination - I could prolly buy Bill Gates. :)
Also, a billion dollars - invested right - can easilly turn into a trillion. The Rothschilds proved that.

@ SS. I can't even begin to wrap my mind around that number! Also, I cant imagine that much money, the economy collapsing, and most of the world living in poverty. There is def something seriously wrong about that.
 
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