Is $900Billion new debt fiscally responsible?

[matt0611]

Well then I'm sure you have a hard time taking basically every other industrialized nation on earth seriously. Taxes in the United States are extremely low compared to other similar countries, being about 9 points below the OECD average.

http://www.taxpolicycenter.org/briefing-book/background/numbers/international.cfm

Now you're getting it :thumbsup:

I find it hard to take their level of taxation seriously.

 

[Darwin333]

I'm very comfortable with not renewing the tax cuts on anyone, but so long as we're running a deficit to cut taxes, cutting them on the rich is about the least worthwhile 'use' of those deficit dollars available to us. If we're trying to stimulate the economy, that's a very poor way to do it. Tax cuts for the middle class are more effective stimulus because they are more likely to recirculate the money.

I agree but at the end of the day, at least speaking solely about the tax cuts for the rich, we are still arguing about a few small percentage points of our current deficit.

Its like arguing about trying to bail water out of the Titanic by hand after it hit the iceberg. It would have had virtually no effect at all.

 

[fskimospy]

Now you're getting it :thumbsup:

That's fine and all, but to not take every industrialized nation on earth seriously is not a very adult position to take.

 

[Darwin333]

My opinion is to always lower taxes at our current level of federal revenue (which is extremely high) until its down to level I find acceptable.

If people think we really need to spend money on something (such as unemployment benefits) we need to find that money from somewhere else, not taxes (because they are too high) and not borrowing (because the deficit is already too high).
Its pretty simple.

Knowing that you think that raising taxes at our current level of revenue makes sense makes it hard to take you seriously.

You wouldn't like the results if you got what you wish for. Unfortunately, I think there is a much better than average chance that you will find out for yourself.

 

[matt0611]

That's fine and all, but to not take every industrialized nation on earth seriously is not a very adult position to take.

To clarify, I think their taxes are even more horrendous than ours. Though I would say I "take their country seriously ", whatever that really means to you. The amount of taxes they pay is way too high IMO. If thats what they want its fine with me though.

You wouldn't like the results if you got what you wish for. Unfortunately, I think there is a much better than average chance that you will find out for yourself.

Oh yes I would. You probably would not though. You think we're going to have less taxes in our future though? Wow, I'd love to have some of what you're having. I sure hope you are right about that.

 

[chucky2]

I'm fiscally conservative, I'm certainly not for higher taxes on anyone, however, the Government has a massive spending problem, not a tax receipts problem. We should be keeping the same, or raising, taxes on everyone.

That being said, raising them on anyone is pointless until the Government shows they've reigned in their spending problem.

I think there's a good amount of people in this country, on both sides, that would be OK with taxes raised on them if they knew for sure that additional tax money was going to pay off the deficit. We all know that is not going to happen, so no one is in favor of raised taxes.

Government needs to put up or shut up...and since they're made up of who they are, they're not putting up. Simple as that.

Chuck

 

[Throckmorton]

My point is that some say that is exactly what the oil companies are doing. Drilling the oil and then leaving it in the ground until its worth more. So why not use your idea but collect rent from now until whenever that time is? Its like someone paying you rent on a house you haven't built yet just so that you don't rent it to someone else. WIN


Do a little research. Figure out how many wells, test wells, capped wells and non producing wells have been made off the coast of the US, hell just US waters in the Gulf and tell me what the odds are of a catastrophic incident like the BP spill happening. The Deep Water Horizon was one of those one in a million accidents and there are common sense things we can do to further reduce the risk. Modern day oil drilling is extremely safe, about as safe as moving and offloading a ton of tankers in the same waters.

Reread my post because you missed my point.
"Another risk is that a huge oil spill happens and drilling oil here gets completely banned in response to public opinion. Of course that didn't happen this time."