Obama: Cut the deficit by taxing the rich

[numonex]

mrstickball said:

oldschoolfool said:

I have to agree with this. I think everybody always want's to blame somebody else for what they dont have. Unless you won the lottery are had a bunch of money handed to you,don't you think those top earner's in America,payed there dues and deserve that money? I think they do. Life in general is'nt fair. If you want something bad enough,you have to work and work hard at what you want,no matter what. I'm not that rich and don't have alot of money,but I can't just get mad and blame all the people that have been successful in  the corporate world. If you raise taxes on small businesses and the wealthy,there just going to find some loophole and probably take there business oversea's. I think they tried that in New York and had to repeal that law,because they just keept leaving and there revenue actually went down. I could be mistaken on that,but I think I seen that on the news somewere.

Going further than that, the thing to note is that our collection rates - what America actually gets from our revenues - has stayed at the same level for the past 100 years. That was with an 92% tax rate on the top 1%, and a 33% tax rate on the top 1%. There is very little that Obama is going to be able to do by raising taxes.

America has a spending problem, not a revenue problem. When you bring in $2.6 trillion dollars, and spend about $4.2 trillion, you have to radically decrease spending, because there is no way we are going to bridge that $1.6 trillion dollar gap by raising taxes - that is, unless you wanted to destroy all wealth and income in the nation.

Off balance sheet spending on Military should be stopped. Military spening both on and off balance sheet would be trillions every year. The US spends too much on its military and maintaining its 200 Military and naval bases around the world. 

Trillions wasted fighting two wars in the Middle East for over 10 years and more wars will be fought over time to continue the never ending War on Terror. 

No wonder the US has no money for universal health care or providing education. With all the trillions wasted every year on military and War on Terror and keeping millions of people in jail or facing trial.  America simply can not afford to spend money on areas to improve the well being of its own citizens.