Whoa. I didn't say anything about cutting spending, I said cutting TAXES. Pay attention. Republicans don't cut spending, they just cut taxes (income) and borrow money to cover the losses, creating a deficit. When was the last republican that posted a surplus and paid down the National Debt? Who? OK, Say you have a 2.7 trillion dollar income from taxes. If you cut 500 million, then you have to borrow 500 million and then add that to the National debt. Cutting income without cutting spending is THE recipe for debt. We waste $billions servicing the interest on that debt. We must either raise enough taxes to cover our expenses or cut expenses. The republican idea that we can just cut taxes and it will force government to cut spending has failed miserably. It failed under republican congresses ad they are pushing it now so that it will fail under a democratic congress. What fluff? :lol: It's a debate. You argue your side and I'll argue mine.
What you said was: Which is poppy cock. You can certainly cut income and debt at the same time by cutting spending by a greater degree. Your entire argument assumes spending is uncontrollable. Your argument also assumes the same amount of economic activity regardless of taxes.
Conventional Keynesian economics suggest this. However, at what point is the national debt so large that increased spending becomes a detriment to our economy instead of stimulating it? Most democrats seem to believe no matter how large the debt is (currently $13.5 Trillion) further stimulus spending is needed.
When has that been done? What republican has reduced the debt? No, it assumes that republicans will choose not to control it, despite cutting taxes. That's already been proven. Who has controlled spending since Bill CLinton posted the last surpluses and paid down the debt? So you assume a skyrocketing economy will come along and solve all our woes? No wonder your formula seems so good to you.
The stimulus spending is to get the economy moving so that industry will start spending the hoard of cash it is sitting on and total recovery can follow. Stimulus spending was never about addressing the national debt.
Does stimulus spending during a slow economy always trump the national debt no matter how large it is? Are you for Obama's most recent $50 Billion stimulus proposal?
Exactly. Bush's Jobs and Growth Tax Relief Reconciliation Act was passed in May 2003. The act cut individual rates, capital gains, dividends, and estate taxes. Revenue increased at a healthy pace. The problem is spending.
Well, it didn't work. Businesses will not start spending until they have confidence in the economy and they are not getting any right now. Tax increases, unknown costs related to Obamacare and the likelihood of more massive spending has them sitting on their hands. If the Dems retain control in November I have 2 words for you: BUY GOLD!!
Obama always opposed the Bush tax cuts. Now he wants to re-name it the Obama Tax Cuts for the Middle Class. What a sham. What a con artist. He thinks Americans are so stupid they will not see through him and accept anything he says, but he is wrong. This bold-faced attempt to plagiarize Bush will just hurt him and cause his approval ratings to drop even lower.
