It has become increasingly obvious that to balance America’s national budget, we must cut spending and optimize tax revenues. The challenge is to find the tax rate that will best yield the necessary revenue. Consider these obvious scenarios: A tax rate of zero percent would yield zero in revenues, while a tax rate of 100 percent would also yield zero in revenues because no one would work for nothing. Americans aren’t stupid. Clearly, then, simply increasing tax rates will not always increase revenues.
This economic reality spares no political party. When Democratic President Kennedy and Republican Presidents Reagan and George W. Bush reduced income tax rates, total tax revenues coming into the Treasury increased because, as JFK explained, “a rising tide lifts all boats.” When Democratic Presidents Carter and Clinton and Republican President George H.W. Bush raised income tax rates, total tax revenues fell. The same holds true for other types of taxes. Reagan’s capital-gains tax increase reduced revenues, while tax-rate reductions instated by Mr. Carter, Mr. Clinton and George W. Bush yielded increased revenues.
Economics 101 students have long understood this concept. In fact, even John Maynard Keynes himself, the Democrats’ high economic priest of big government, acknowledged that “taxation may be so high as to defeat its object.” In a 2008 presidential debate, when candidate Barack Obama was presented with these undeniable facts and asked why he would possibly still favor nearly doubling the capital gains tax rate, he replied, “… for purposes of fairness.”
Re: Puterbac News Network and Political Discussion Thread
Posted: Sat Apr 16, 2011 10:49 am
by 10ac
Filled up yesterday for 87 bucks. Fuckin' Bush...
Re: Puterbac News Network and Political Discussion Thread
Posted: Sat Apr 16, 2011 12:46 pm
by bluetick
Park that guzzler and save some gas for the rest of us.
10ac,
Hello
Re: Puterbac News Network and Political Discussion Thread
Posted: Sat Apr 16, 2011 12:53 pm
by sardis
So this guy is comparing right wing Chritianity with right wing Islamists?
Re: Puterbac News Network and Political Discussion Thread
Posted: Sat Apr 16, 2011 1:43 pm
by bluetick
Islamic fundamentalist doesn't necessarily mean islamofacist.
Re: Puterbac News Network and Political Discussion Thread
Posted: Sat Apr 16, 2011 6:52 pm
by Jungle Rat
110 Members!
HI TALENT!!!!
Re: Puterbac News Network and Political Discussion Thread
Posted: Sun Apr 17, 2011 4:22 pm
by Toemeesleather
check, is this on?
Re: Puterbac News Network and Political Discussion Thread
Posted: Sun Apr 17, 2011 6:38 pm
by billy bob bocephus
thanks, aTm - youse ok for a kay-det
Re: Puterbac News Network and Political Discussion Thread
Posted: Mon Apr 18, 2011 12:06 pm
by bluetick
Nobody wants to discuss the voucher system being pushed as a replacement for Medicare. Interesting.
Personally, I wish dems would quit dem-onizing the idea (see what I did there?). This could finally be the shove everybody needs to eat right and exercise and to quit smoking in the run-up to their golden years. Otherwise, elderly who are thick and smoking will likely need to do a reverse mortgage to finance their private health plan....that favors their private health provider as the beneficiary (sorry kids).
Yessiree - 4 pages of medical questions followed by a couple pages of estate and property pre-appraisals. Turning 65 will be a relief for some, and an absolute nightmare for others. No real winners, just different shades of how much you'll have to surrender nest-egg-wise to stay alive.
okay - the real winners will be private healthcare and the pols who are in bed with them...but you knew that already
Re: Puterbac News Network and Political Discussion Thread
Posted: Mon Apr 18, 2011 3:54 pm
by sardis
At least tick is progressing out of the denial stage and into acceptance that medicare can't continue the way it is...
Re: Puterbac News Network and Political Discussion Thread