Politics
Out of context: Reply #10436
- Started
- Last post
- 33,772 Responses
- ukit0
Yeah, I don't think that story is accurate. The plan was always to repeal only the tax cuts on $250k +. Which may explain why they have retracted it:
http://www.talkingpointsmemo.com…
http://news.yahoo.com/s/nm/20100…
At the end of the day though, it's not a crazy idea to repeal the tax cuts - or rather, allow them to expire, since they were never intended to go beyond 2011 in the first place. There was an interesting analysis the other day on how the deficit is basically caused by three things, Bush social policies (tax cuts and Medicare expansion), the Iraq and Afghan War, and the effects of the financial crisis (ie, lost tax revenues and govt response). And if you look at it over time the tax cuts rise to become an even greater share of the financing gap.
This is the problem, Americans vote for tax cuts they can't pay for, a war they don't need, then they turn around and protest deficits created by...the tax cuts and war they voted for. At some point, you need to realize you can't have your f*cking pony and we need to get serious about fiscal policy in this country. Guess what, America ran just fine during the 90s when the tax rate for high earners was 39% instead of 35%.
- I approve this message.waterhouse
- Nicely done.Mimio
- Posts like this get no conservative response. Ever.DrBombay
- it's not the tax cuts we don't pay for, it's the expansion of govt, entitlements, and social programs.johndiggity
- How exactly do you pay for a tax cut?DrBombay
- The leftist way - increase spending. Blindly.********