That is only half true. no amount of revenue increases can balance the budget without massive entitlement reform. Obama's tax proposals bring in enough revenue, if everything remains the same, over ten years to cover a portion of one year's deficit spending. Hardly effective So heavily slanted that the rich pay the highest effective rates, and shoulder a larger portion of the tax burden than the percentage of national income they receive. Thems hard facts. You'd know if you'd ever look at the CBO numbers I posted 100 times. Agree.
You sure about that? You can cut for one. Then once cuts are made, you can look at a flat tax rate that will yield a balanced budget. You can......get this...... GROW THE ECONOMY! Something Obama clearly is having so much success doing. WOWZERS!!! So answer me this batman, how is close to 50% paying zero and even getting some back slanted again? Not following? I would love to see how you relate a person who keeps more of his money inherently makes some other guy "more poor." Please outline this policy for me. Go for it. A flat tax, tiered of obviously, could work extremely well given zero deductions.
I have said many times that both spending cuts and tax increases will be required to balance the budget. In fact I have said that the ratio should be about 30 percent tax increases and 70 percent spending cuts. This isn't my idea, it seems to be the prevailing thought among most of the serious economists I've listened to. Pride seems to be under the impression that we can balance the budget with spending cuts alone and it is mathematically impossible. It doesn't matter that the rich pay the highest effective rates, that is the way it is supposed to be. It isn't class warfare to ask the wealthiest to pay a little more. If you don't believe me go back and look at what the top marginal rates have looked like historically.
Umm, never said that. Go Fish. I said to raise taxes without any indication of a balanced budget or deal to garuantee a balanced budget is stupid. I stand by that. Never said spending cuts alone. SO shut up about that. However, you can grow your way into a balanced budget by creating more jobs. Though we all know Obama is not good at that so the rich must save us all.
It is really simple. Make it law to balance budget. Try to balance budget. Then you have a REAL number that is needed to get to said balanced budget.
No a flat tax would be terribly punative for workers on the lower end of the income scale. Money has an undeniable marginal utility.
Flat tax income level brackets with zero deductions. The Flat refers to your groups flat tax rate that you cannot get out of by deductions. But yea, a pure 1 number for all is stupid, I didn't mean it like that.
forgot to mention also that I did indeed look up your CBO numbers and you are correct. I was wrong. You have proven yourself to be an honest debator so I do not mind admitting when I am incorrect. was going to put it into previous post but forgot to do so.
