These people are insane! The CBO just reported that if the federal government doesn’t get its spending under control and reduce the national debt we’ll be facing a serious fiscal crisis. You know, worse than what we’re already facing. So what do Democrats want to do? Why, spend more money we don’t have, of course.
Democratic leaders called on Wednesday for additional spending to boost the sluggish U.S. economy, setting up a fresh hurdle for bipartisan efforts in Washington to head off a government debt default this summer.
Democrats’ demand for new stimulus spending is at odds with the work of negotiators, led by Vice President Joe Biden, who are trying to find trillions of dollars in savings as part of a deal that would allow Congress to sign off on new government borrowing before the U.S. runs out of money to pay its bills.
Those talks, which resumed on Wednesday, have largely focused on spending cuts over the next 10 years. Senate Democrats want the deal to include more money for highway construction, a payroll tax cut and clean-energy subsidies to bring down the 9.1 percent unemployment rate.
“Get the recovery right before you get in this deficit-cutting mode,” Assistant Senate Democratic Leader Dick Durbin told reporters. “Get people back to work. Let’s start moving in that direction.”
Oh now that’s brilliant! Do more of what they’ve been doing for the past two and half years while expecting different results.
Tags: CBO, Dick Durbin, economy, fiscal crisis, more stimulus, national debt, spending
Hidden due to low comment rating. Click here to see.
Poorly-rated. Like or Dislike:
2 
7
It is interesting to assume that simply by raising tax rates, tax revenues would increase, but studies from both sides have shown that this does not actually happen.
When looking at tax revenues as a percentage of GDP, regardless of rates, it has been steady between 18-20% since the 1960′s.
http://blogs.marketwatch.com/fundmastery/2010/07/02/does-hiking-tax-rates-raise-more-revenue/
The wealthiest American’s are already taxed at a much higher rate than those who get everything for free from the government (nearly 50% of American’s pay no income tax). If in our infinite wisdom we increase taxes further on those who are wealthy and actually produce the jobs, then these same people will be forced to take corrective action to pass on these increased expenses to their clients (all of us) or move jobs overseas where people are willing to work for less.
Money will always go to where it is treated the best. No exception. You can give money to someone who doesn’t produce anything and they will quickly end up losing the money and giving it back to those who have given it to them in the first place.
As a business owner, I don’t care where my business resides. I will move overseas if taxes go too high…hmmm, it seems like this is already happening in America doesn’t it? We no longer have the auto manufacturers, we no longer make electronics, we no longer make textiles, we no longer make much of anything anymore.
Go ahead, tax the rich. Then find a way to blame the conservatives and capitalism when you find the costs of goods and services are rising, unemployment rising, earnings and benefits decreasing, companies go out of business or moving overseas.
Yeah, raising taxes on those that produce, like reverse Darwinism, that should solve your problems.
Well-loved. Like or Dislike:
9 
0
Hidden due to low comment rating. Click here to see.
Poorly-rated. Like or Dislike:
1 
6
We don’t have a revenue problem, the United States government has more revenue than any other time in our history! It is clear and obvious that we definitely have a spending problem! The US government right now is running on a budget that we can’t afford. We wasting our money on programs and entitlements that are going bankrupt! Our national debt is skyrocketing! And you can’t blame all that on Bush, because Obama has done more damage so far in his presidency than Bush’s entire eight year run! We need to balance the budget, stop taxing exports and not taxing imports, and make reforms to entitlement programs like Social Security and Medicare, in which debt and possible bankruptcy have a chance to be major problems. Every other American citizen follows a budget and knows they can’t spend over their limits. If we do spend over our limits we have to default on payments and face bankruptcy. Spending your way out of a debt problem has never worked, but by realizing the budget you have and abiding to it. That is how America has been running and that’s how it has to continue to run for it to continue to flourish!
Like or Dislike:
2 
1
Hidden due to low comment rating. Click here to see.
Poorly-rated. Like or Dislike:
0 
10
You really aren’t worth the time. You lost me at “given our revenue to the ultra rich.” Sorry, you’re too far gone to bother debating.
Well-loved. Like or Dislike:
7 
1
Hidden due to low comment rating. Click here to see.
Poorly-rated. Like or Dislike:
1 
8
I’m personally for dramatic spending reductions and lower taxation.
Any argument that taxes are the lowest in recent times is specious. My sales tax is higher than ever, my road tax, land line, cell phone, environmental (through services), utility taxes, capital gains, personal property business and State income taxes are as well. And I’m sure I forgot some.
Federal taxation tables since way back:
http://www.taxfoundation.org/publications/show/151.html
You can download a PDF of it too.
It’s interesting during the Carter years and then in ’82 during the Reagan administration.
Also check the rates in ’91, ’92 and then the retroactive Clinton kicker he gave us in ‘93.
Sheesh, when you add it all up, it sure takes away a lot of your spirit when you have seized over half of your earnings.
Like or Dislike:
2 
0
“Any argument that taxes are the lowest in recent times is specious.”
hrrrm. let’s see:
“Tax bills in 2009 at lowest level since 1950″
http://www.usatoday.com/money/perfi/taxes/2010-05-10-taxes_N.htm
“U.S. tax burden at lowest point in years”
http://www.upi.com/Business_News/2010/05/11/US-tax-burden-at-lowest-point-in-years/UPI-74091273594893/
You really sure that the claim is specious?
Like or Dislike:
0 
0
You know as well as I that your entire self is specious.
Like or Dislike:
0 
0
Oh look they take to third grade name calling when their point is disproved. THIS is exactly why nothing can get solved in this country. Thanks for pointing it out michigan.
Like or Dislike:
0 
0
It’s not that debate is so conveniently avoidable, andy, it’s just that we’ve heard this same old tired obfuscatory script before.
Somebody to the right of Raul Castro says ‘The government is spending too much money’ and the immediate reposnse from progressives or liberals pretending to be moderates is “Let’s tax the rich some more!”
Now…….politics of envy, class warfare aside, with $787 billion basically thrown down a hole, an unfunded
warkinetic military action in Libya and obligations like social security or medicare piling up, the million dollar question is Why on God’s Green earth should I assume that the government will somehow be more responsible or accountable with taxpayer money if we end up having to pay MORE? What have they done to justify that kind of blind faith on your part?Well-loved. Like or Dislike:
7 
0
“Why on God’s Green earth should I assume that the government will somehow be more responsible or accountable with taxpayer money if we end up having to pay MORE?”
Turn the question around- how much better will we be if we don’t tax the rich? Fortunately we have the last decade to answer that question. Bush dropped taxes on the wealthy and corporations and contrary to the right’s arguments they did not create jobs. On the contrary they stashed the cash and the economy stagnated and eventually crashed.
So since we know the rich will be feckless with the money I’m willing to give the government a chance. I get a hell of a lot better return on government action then I do by the wealthy padding their accounts.
Like or Dislike:
0 
0
I’m sure you do, you pantload….but I’m not basing my actions on what would please YOU
Like or Dislike:
0 
0
More third grade name calling after their point is shot down. These are the people holding the country hostage because they aren’t getting their way. Fantastic.
Like or Dislike:
0 
0
The Left could care less about deficits or debt. The CBO report shows pretty clearly that spending is the real problem NOT tax revenue. But the left wants us to return to the “1950′s” or 90% top tax rates. Every time Tax cuts have been enacted business has thrived and created more jobs.
Like or Dislike:
1 
0
Profits thrived. Jobs tanked. Get your facts right.
Like or Dislike:
0 
0