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richardhutnik on 03 August 2011
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mrstickball said:
richardhutnik said:
osamanobama said:
Baalzamon said:
HappySqurriel said:
Without considering inflation, the likely rapid increases in spending due to unfunded liabilities, or the inevitable increases in interest rates, the US government is on track to spend roughly $40 trillion over the next 10 years while adding $15 Trillion to the debt ... and they can only cut $1 trillion made up mostly of accounting gimicks, and promise to cut $1.2 trillion more that will (most likely) never be implemented or will made up of accounting gimicks

Exactly, the whole thing is just a joke.

but dont you know the people who only pay 50% of the United tates tax burden need to pay their fair share, we need to make it 60% or 70% or more, its only fair. we need a balanced aproach, right

In other words, RAISE taxes on those who have less money and cut for those who have more?

...Or recognize that the biggest earners are already paying their fair share (the top 1% pay 60% of income taxes), and that we have a spending problem, not a revenue problem.

Is it possible that maybe, just maybe, wealth and income has shifted so that the top have gotten an increasing percentage of the share, while the middle class and lower has gotten the same or less?  What do you think the tax structure and who pays what in taxes is like this, when income has remained flat or declined for the middle and lower classes, AND you want to maintain basic government services?  You do realize that past decade incomes have DECLINED for the average American, what the top few percent have seen very large increases in income, right?

As far as not a revenue problem, taxes as percentage of GDP is under 15% on the federal level.  This at a decades all-time low.  Saying revenue is a problem isn't only saying that taxes need to go up, but the economy stinks and there isn't enough money coming in.   Apparently tax cuts haven't been the answer either for stimulating job creation and getting things going where they matter either.