We have record LOW TAXES....

Jarod

Jarod

Well-known member
Contributor
We are in a situation where we have a historically low Income Tax and historically high spending.

What is the solution?


I say its, cutting spending and raising taxes?

Anyone disagree? Untill the election, the Republicans have said the solution is to cut spending and keep the unprecidented low income taxes.


Does anyone agree?
 
I disagree. We have persistently high unemployment. We should neither raise taxes nor cut spending until we no longer have persistently high unemployment.
 
Jarod said:
What about the national debt?
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Deal with that when we no longer have persistently high unemployment. Our borrowing costs are at all time lows right now. We should be spending more than we are in the near term and raising taxes and cutting spending later.
 
Jarod said:
We are in a situation where we have a historically low Income Tax and historically high spending.

What is the solution?


I say its, cutting spending and raising taxes?

Anyone disagree? Untill the election, the Republicans have said the solution is to cut spending and keep the unprecidented low income taxes.


Does anyone agree?
Click to expand...

Actually, the GOP platform was (still is) keep the current rates and get rid of the loop holes, making the tax system far simpler, fairer and flatter. Then reduce spending to pay down the deficit. This combination would increase confidence and the economy would grow as a result.
 
Jarod said:
What numbers indicate persistently high unemployment?
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Unemployment is still higher than it's peak in 3 of the last 4 recessions. The recession ended 3 and a half years ago. That's persistently high unemployment.

fredgraph.png
 
Dungheap said:
Really? I question your truthfulness.

Be that as it may, was the Greek government paying historically low interest rates at the time? Because we are.
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Pretty much...
[h=2]The benchmark interest rate in Greece was last reported at 0.75 percent. Historically, from 1998 until 2012, Greece Interest Rate averaged 2.65 Percent reaching an all time high of 4.75 Percent in October of 2000 and a record low of 0.75 Percent in July of 2012.
[/h]
 
Jarod said:
Wrong AGAIN!, Ill start with President Obama who is willing to cut spending.
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PMP is so cut off from reality. He's still restricting himself to only those news sites that were predicting a Romney landslide.

I actually haven't heard even one Democrat who isn't willing to cut spending right now. Obama definitely is.
 
We are not broke and the debt is being paid down already. Let the Bush tax cut extention expire...$billions...end the wars....raise the rates on those over $150,000...close tax loopholes for the rich, leave the middle class alone. This whole bums rush to austerity will be a miserable failure if they succeed in pushing us to it and Obama bails on us. We'll have his back if he has ours. Fix the mortgage crises so people aren't being evicted. Get a jobs program working and fix our infrastructure. Get to work on renewable energy.
 
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