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View Full Version : Gotta love the Daily Kos...



OnePimpTiger
01-30-2011, 10:53 PM
The very expensive tax cuts for the rich (http://www.dailykos.com/storyonly/2010/8/13/892503/-The-very-expensive-tax-cuts-for-the-rich)

http://images2.dailykos.com/images/user/6685/GR2010081106717_thumb_454x592_23659.gif

I know some of you will agree with their position on this...fair enough. Some feel people should provide for themselves and have a right to keep what they have earned while others feel some people deserve to be provided for by taking from what others have earned. That will always be debated.

What (I'm hoping) will not be debated is the completely incorrect logic expressed by the Daily Kos just below this graphic:


By the way, that plan on the right, the Republican one that Kent Conrad and Ben Nelson like so much? It adds $36 billion to the deficit.

How does not collecting income "add to the deficit"? In your personal finances, when you don't get a raise at work, do you call that increasing your debt? There is only one thing that "adds" to the deficit, spending. Will that ever sink in?

duane1969
01-31-2011, 09:42 AM
How does not collecting income "add to the deficit"? In your personal finances, when you don't get a raise at work, do you call that increasing your debt? There is only one thing that "adds" to the deficit, spending. Will that ever sink in?

This is a very significant point that most people who favor tax hikes either don't get or choose to ignore. The simple fact is that if we froze taxes exactly where they are right now, with no cuts or increases, the defecit will still rise because the government has given itself a checkbook full of blank checks and has no concept or care to manage it's spending.

I saw an article the other day that said that our government currently spends .78 cents of every dollar it takes in on Medicaid, Medicare, Welfare and interest on our debt. That leaves .22 cents per dollar to run our country on. It estimated that at our current rate of deficit spending by 2020 that amount will be down to .08 cents per dollar. If we think the finacial crisis is bad now...just wait 10 years.