Re: Why Taxes are Going to Have to Go Up
- From: "Jerry Okamura" <okamuraj005@xxxxxxxxxxxxx>
- Date: Sun, 13 Apr 2008 08:43:39 -1000
"Rumpelstiltskin" <PleaseDoNotReplyByEmail@xxxxxxxxxxx> wrote in message news:l1h304t8iietj6tlsm09g3v00uvoiej4i7@xxxxxxxxxx
On Sun, 13 Apr 2008 06:24:25 GMT, "Lawrence Akutagawa"
<lakuNOSPAM@xxxxxxxxxxxxx> wrote:
"mg" <mgkelson@xxxxxxxxx> wrote in message
news:fts4l5$p69$1@xxxxxxxxxxxxxxxxxxxx
Some reasons that come to mind:Golly gee - I have a more simple, straightforward explanation....the
1. The U.S. government owes Social Security about $4 trillion. Indications
are that Social Security is going to need this money back.
2. The AMT tax time bomb. The middle class faces a huge tax increase
unless the AMT tax is repealed. The reduction in tax revenues from repeal
is expected to be between $800 billion and $1.5 trillion in federal
revenues over 10 years. If the tax is repealed the government is going to
need to get the money some place else.
3. The Iraq war. We have already paid about $500 billion for the Iraq war,
but total costs are estimated at about $2-$3 trillion.
4. The national debt is currently about $9.5 trillion and our deficit
spending is currently being financed largely by foreign countries (e.g.,
China) at low interest rates. It's probably also being financed by
printing-press money. The U.S. savings rate is the lowest it's been since
the great depression. So, the government can't borrow from it's citizens.
Common sense tells you this situation can't go on forever.
Democrats are going to win the presidency and both houses of Congress this
fall. No more need be said.
With all due respect, anybody who can't see the mess
the country has gotten into because of running up the
debt by not collecting enough taxes to cover the
spending they were doing and could plainly see, even
disregarding the meaningless war, by now, has to be
an idiot.
Or a Republican, there doesn't seem to be any
difference. Idiots and Republicans both think debt can
be run up to the skies with no consequences. Well,
here come the consequences, but like people who
can't pay off credit card debts they ran up because
they don't got no sense at all, the Republicans are
floundering around now, in this newsgroup and
elsewhere, pointing fingers everywhere trying to blame
somebody, anybody, else. Sorry, no sale.
That is a downright silly statement to make. Since WWII, when Roosevelt increased the national debt by a huge amount, there has been no serious attempt by ANY President or ANY congress to deal with the problem, and I have not heard anyone of the leading candidates who are trying to be our next President pledge that they would not increase the debt (but rather decrease the debt) "if" they are elected. The National Debt has become as big as it is today, because MANY President and MANY congresses, have spent more money that the government took in in revenue. And no one President or one Congress is going to solve the problem....it is going to take generations of dedicated effort to even put a dent in the National Debt. And as much as we complain like stuck pigs about the problem, as soon as someone sticks their neck out and tells us what programs they will cut or what revenues they will raise, there will be an instaneous outcry from us.....
.
- Follow-Ups:
- Re: Why Taxes are Going to Have to Go Up
- From: Al E. Crocodile
- Re: Why Taxes are Going to Have to Go Up
- References:
- Why Taxes are Going to Have to Go Up
- From: mg
- Re: Why Taxes are Going to Have to Go Up
- From: Lawrence Akutagawa
- Re: Why Taxes are Going to Have to Go Up
- From: Rumpelstiltskin
- Why Taxes are Going to Have to Go Up
- Prev by Date: Re: Strapped Homeowners Turn to Bad Loans
- Next by Date: Congress and the Energy Problem
- Previous by thread: Re: Why Taxes are Going to Have to Go Up
- Next by thread: Re: Why Taxes are Going to Have to Go Up
- Index(es):
Relevant Pages
|
