This is a thorny situation, to be sure. One on hand, we have a serious deficit problem that will only be increased if the tax rates are not restored. On the other hand, people never react positively to a tax increase, despite the fact that the pre-Bush tax rates were in place when the economy was booming in the 90's. Former Reagan budget director David Stockman recently wrote an interesting Op-Ed piece on this: http://www.nytimes.com/2010/08/01/o...?pagewanted=1&_r=2&sq=apocalypse&st=cse&scp=1
Cutting taxes does not equate to decreasing income. That's something tax and spend liberals will never, ever, get through their thick skulls.
Of course it is! It's costing the Treasury 3.5 Trillion of the next 10 years. Lets hear your explanation of how taxes aren't government income.
Ok. I have 2.7 trillion dollar income and a 1 trillion dollar deficit. At the end of the year I have a 1 trillion dollar debt. All other things equal, I reduce my income to 2.5 Trillion dollars. I cut my spending to 2.3 trillion dollars, and I use the surplus from my spending cut to pay down debt. I have both reduced income and decreased debt. I understand that you are forgainst every tax increase or decrease out there, but what you fail to understand is that there are two sides to every equation.
That's based on a flawed model which assumes the same amount of economic activity with the higher brackets.
If the damn budget wasn't a trillion dollars we wouldn't have this problem. So they can kiss my ass with their tax raising selves.
Taxes are government income but increasing taxes decreases spending by consumers and businesses which mean less jobs and less taxes being paid, thus less government revenue. Cutting taxes stimulates spending by consumers and businesses thus creating jobs and producing more tax revenue for the government. It seems you have dropped all pretense of not being a liberal.
