DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - U.S. Debt Tops $14.3 Trillion for First Time

**D6Ri5u13** · 04-21-2011, 05:46 PM

The problem is there are no "trillionaire's" out there to tax. Now under Obama's plan he wants to tax those making over 250K per year. In the 250K bracket you're going to have lots of small business people who are the driving engine of this economy.

If the pubs would agree to tax the over 500-600K crowd this would be out of the realm of small business aka sub-chapter S corporations.

Right now the federal government could take everyone's wealth--including your paycheck and estimates show that would amount to only 2.7 trillion dollars--which doesn't even put a dent into this 14.3 trillion dollar deficit much less 53 trillion in unfunded liabilities.

Therefore, the only way to get this budget under control is to cut everything--with no sacred cows--that both parties cherish on the chopping block. And that-is-for certain--going to be the biggest problem.

No matter how much money the federal government confiscates from others--they will always find a way to spend thatTheand borrow much more.

"When go vernment is big enough to give you everything you want--it will also be big enough to take everything you have."--Thomas Jefferson

The Bush tax cuts need to expire, period, and not just on the top tier. THEN reform the tax codes, simplify them, lowering tax rates, but increasing revenue, as loopholes are closed completely. Increase capital gains taxes. Lower corporate taxes, once the special loopholes are destroyed, so that the advertised rates ARE the effective rates. The time for lying about the real tax rates should finally be ditched.

04-21-2011, 05:46 PM	#27
D6Ri5u13 Join Date Oct 2005 Posts 561 Senior Member	The problem is there are no "trillionaire's" out there to tax. Now under Obama's plan he wants to tax those making over 250K per year. In the 250K bracket you're going to have lots of small business people who are the driving engine of this economy. If the pubs would agree to tax the over 500-600K crowd this would be out of the realm of small business aka sub-chapter S corporations. Right now the federal government could take everyone's wealth--including your paycheck and estimates show that would amount to only 2.7 trillion dollars--which doesn't even put a dent into this 14.3 trillion dollar deficit much less 53 trillion in unfunded liabilities. Therefore, the only way to get this budget under control is to cut everything--with no sacred cows--that both parties cherish on the chopping block. And that-is-for certain--going to be the biggest problem. No matter how much money the federal government confiscates from others--they will always find a way to spend thatTheand borrow much more. "When go vernment is big enough to give you everything you want--it will also be big enough to take everything you have."--Thomas Jefferson The Bush tax cuts need to expire, period, and not just on the top tier. THEN reform the tax codes, simplify them, lowering tax rates, but increasing revenue, as loopholes are closed completely. Increase capital gains taxes. Lower corporate taxes, once the special loopholes are destroyed, so that the advertised rates ARE the effective rates. The time for lying about the real tax rates should finally be ditched.
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