"You didn't build that" - Obama

[richardhutnik]

badgenome said:

richardhutnik said:

And it is bull to say there isn't a revenue problem.  Your flat denial is absurd.  Now, you can argue there is a larger spending problem, but there is also a revenue problem.

Tax revenue is at a historic low when workforce participation is at a historic low... no way! That's unpossible!

Since you can't close the deficit by raising revenues, it is a spending problem. No amount of pointing to irrelevant numbers will change that.

Obviously also, businesses can't address running deficits either, by raising their prices.  And nope, you can't close deficits by having more money.  It is a maxim that people get rich by spending less money.

Ignore David Stockman saying tax rates are too low:

http://billmoyers.com/content/david-stockman-on-the-folly-of-anti-tax-crusades/

“Taxes are the price we pay for civilization,” Stockman says, borrowing a quotation from Supreme Court Justice Oliver Wendell Holmes. “What they’re saying today is foolish, it’s irresponsible. How can anyone believe with the kind of deficit that we have — a trillion dollars, year after year after year — that we can keep taxes as low as they are?”