Poll:Tax cut: would you give it up so the federal deficit would drop?

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Scrooge2

Senior member
Jul 18, 2000
856
0
0
Most of our debt is held by the american public.
Yes it's true. The Federal Deficit is also called the "Public Debt." Though we do get loans from other countries, it is the public citizens that retains the debt for them.
 

zantac

Senior member
Jun 15, 2003
226
0
0
Originally posted by: charrison
Originally posted by: zantac
You mean the Bush "Tax Cut"? Of Course, seeing as how it is a loan and not a tax cut at all. To all the people that say they would rather have their money back, I bet you would be interested to see how much of "your money" came from a loan from communist China
Most of our debt is held by the american public.
And this tax cut is a debt to the american public.
 

charrison

Lifer
Oct 13, 1999
17,033
1
81
Originally posted by: zantac
Originally posted by: charrison
Originally posted by: zantac
You mean the Bush "Tax Cut"? Of Course, seeing as how it is a loan and not a tax cut at all. To all the people that say they would rather have their money back, I bet you would be interested to see how much of "your money" came from a loan from communist China
Most of our debt is held by the american public.
And this tax cut is a debt to the american public.
Not exactly true. You unfortunatly naive enough to beleive that if the money from the tax cut stayed in washington it would be put towards the debt. Unfortunatly that is just not the case.
The democrats are currently campaigning to repeal the tax cut so they fund their spending projects.
 

flavio

Diamond Member
Oct 9, 1999
6,823
1
76
Originally posted by: WinstonSmith
We should have saved lots of money. In Iraq. Well, the tab is what 100 billion +? Looks like we will see more than half a trillion on this fiasco in direct costs before this is over. I think we ought to have a tax cut, except for those who wanted this war. They ought to be taxed double. :p
damn straight!

 

charrison

Lifer
Oct 13, 1999
17,033
1
81
Originally posted by: flavio
Originally posted by: WinstonSmith
We should have saved lots of money. In Iraq. Well, the tab is what 100 billion +? Looks like we will see more than half a trillion on this fiasco in direct costs before this is over. I think we ought to have a tax cut, except for those who wanted this war. They ought to be taxed double. :p
damn straight!
And those that want tons of federal social spending, should be taxed double for it as well. THis is the problem with a large federal goverment. It is wasting money so that most people are upset with the spending it does.
 

zantac

Senior member
Jun 15, 2003
226
0
0
Originally posted by: charrison

Not exactly true. You unfortunatly naive enough to beleive that if the money from the tax cut stayed in washington it would be put towards the debt. Unfortunatly that is just not the case.
The democrats are currently campaigning to repeal the tax cut so they fund their spending projects.
I was talking about FY2K3.
 

charrison

Lifer
Oct 13, 1999
17,033
1
81
Originally posted by: zantac
Originally posted by: charrison

Not exactly true. You unfortunatly naive enough to beleive that if the money from the tax cut stayed in washington it would be put towards the debt. Unfortunatly that is just not the case.
The democrats are currently campaigning to repeal the tax cut so they fund their spending projects.
I was talking about FY2K3.
You think 2k3 would be any different?
 

jeremy806

Senior member
May 10, 2000
647
0
0
It's all nonsense.

If the governement does not cut spending, the tax cut does not mean anything, the only thing that is achieved is a re-arrangement of who picks up the tab. In that view, all tax cuts are mere manipulations to re-arrange the actual bill eater. However, to a certain extent, I would rather have a tax cut than a tax increase, at least with a cut there is a slim chance that spending may actually get cut.

By the way, the tax cut is not stimulating the economy, and neither are the continuous rate cuts that are destroying the poor (through inflation) and the old (because they are on fixed income).

Jeremy806

 

charrison

Lifer
Oct 13, 1999
17,033
1
81
Originally posted by: jeremy806
It's all nonsense.

If the governement does not cut spending, the tax cut does not mean anything, the only thing that is achieved is a re-arrangement of who picks up the tab. In that view, all tax cuts are mere manipulations to re-arrange the actual bill eater. However, to a certain extent, I would rather have a tax cut than a tax increase, at least with a cut there is a slim chance that spending may actually get cut.

By the way, the tax cut is not stimulating the economy, and neither are the continuous rate cuts that are destroying the poor (through inflation) and the old (because they are on fixed income).

Jeremy806

The first tax cut was mostly back loaded. The last tax cut was front loaded and has only been active a couple weeks. Give it a little more time before you call it a complete failure.
 

Ferocious

Diamond Member
Feb 16, 2000
4,584
2
71
That tax cut should have never happened.

Since I'm part of the middle class.....the tax cut for me was pretty much nothing.

Plus I'm fiscally responsible unlike our current government.
 

CADsortaGUY

Lifer
Oct 19, 2001
25,162
1
76
www.ShawCAD.com
Originally posted by: Ferocious
That tax cut should have never happened.

Since I'm part of the middle class.....the tax cut for me was pretty much nothing.

Plus I'm fiscally responsible unlike our current government.
I'm middle class and it will help me. Actually I could be considered lower-middle class and it still helps me.

CkG
 

tnitsuj

Diamond Member
May 22, 2003
5,446
0
76
Originally posted by: CADkindaGUY
Originally posted by: Ferocious
That tax cut should have never happened.

Since I'm part of the middle class.....the tax cut for me was pretty much nothing.

Plus I'm fiscally responsible unlike our current government.
I'm middle class and it will help me. Actually I could be considered lower-middle class and it still helps me.

CkG
I still have my first $300 dollar bribe check sitting iin my desk drawer. Strange thing is, after I submitted my taxes that year, the IRS came back and siad I owed them exactly $300, something to do with the refund.

 

CADsortaGUY

Lifer
Oct 19, 2001
25,162
1
76
www.ShawCAD.com
Originally posted by: tnitsuj
Originally posted by: CADkindaGUY
Originally posted by: Ferocious
That tax cut should have never happened.

Since I'm part of the middle class.....the tax cut for me was pretty much nothing.

Plus I'm fiscally responsible unlike our current government.
I'm middle class and it will help me. Actually I could be considered lower-middle class and it still helps me.

CkG
I still have my first $300 dollar bribe check sitting iin my desk drawer. Strange thing is, after I submitted my taxes that year, the IRS came back and siad I owed them exactly $300, something to do with the refund.
Strange thing - I owed less in tax-liability this year and I made more money (no new exemptions either) plus got my check too. :)

CkG
 

drewshin

Golden Member
Dec 14, 1999
1,464
0
0
much as i dont like bush, i like his tax cuts. i wouldve voted for steve forbes way back when if i thought he had a realistic shot at getting a flat tax approved.

of course, spending would also need to be cut - hopefully in the right places. my hope is that any social services/programs that get cut would get restarted by individuals/groups that would run as charities/non-profits and handle the money they receive much better.
 

LunarRay

Diamond Member
Mar 2, 2003
9,993
1
76
I still have my first $300 dollar bribe check sitting iin my desk drawer. Strange thing is, after I submitted my taxes that year, the IRS came back and siad I owed them exactly $300, something to do with the refund.
--------------------------------------------------------------------------------
Strange thing - I owed less in tax-liability this year and I made more money (no new exemptions either) plus got my check too.
*************

Well did you do your part to stimulate the economy? Remember, Attitude of the Citizen is very important..
If folks think prices will drop in the future they will wait to purchase... this will cause the start of the deflation spiral. So Spend, Laugh, Spend, Smile... all will be well... Greenspan said so... smile and spend..
 

DaiShan

Diamond Member
Jul 5, 2001
9,617
1
0
Yes, I would make 10 times what I got off on taxes on the stock market, this up and down (although it is getting better) is a bit unnerving, especially if you, like me, are young and have a more substantial ammount ventured on short term holds with higher volatility.
 

tnitsuj

Diamond Member
May 22, 2003
5,446
0
76
Originally posted by: LunarRay
I still have my first $300 dollar bribe check sitting iin my desk drawer. Strange thing is, after I submitted my taxes that year, the IRS came back and siad I owed them exactly $300, something to do with the refund.
--------------------------------------------------------------------------------
Strange thing - I owed less in tax-liability this year and I made more money (no new exemptions either) plus got my check too.
*************

Well did you do your part to stimulate the economy? Remember, Attitude of the Citizen is very important..
If folks think prices will drop in the future they will wait to purchase... this will cause the start of the deflation spiral. So Spend, Laugh, Spend, Smile... all will be well... Greenspan said so... smile and spend..
I'm not really spending all that much as I am saving up for a house. I put 20% away in my 401k, and most of the rest away in my savings account. The remaining ~1k goes to rent, food,insuranc, etc. So I guess I am not the ideal consumer...but so what. I don't owe anyone a nickel and I like it that way. I will have zero debt up until I have a mortgage.

 

SuperTool

Lifer
Jan 25, 2000
14,000
2
0
This just in: Russian GDP is growing 5.9% this year.
Russia has 13% flat tax.
My question is this: are the two related, or does Russian GDP have nowhere to go but up, since it's so pathetic to begin with?
 

JellyBaby

Diamond Member
Apr 21, 2000
9,159
1
81
Probably both. I've always thought it remarkable the U.S. economy has been able to steadily grow in spite of oppressive taxation at all levels. A 13% flat tax is not oppressive, though I'm not sure what other taxes Russia placed into law.
 

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