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• ripvanwinkle

  Posted on November 27, 2012 at 1:05am

  Yes, it’s true that raising taxes too high will reduce revenues, but with all due respect to the big brains like Wilkow and guest, a big reason we’re all ignorant is because all you big brains stink at teaching some basics.

  Forget supply side and demand side BS. Wealth, value, and job creation for both consumers and providers is all in the transaction itself, and the number of transactions.

  details: https://sites.google.com/site/joeplummer201209/home/economics101

  Short anwer: The government takes from both sides of every transaction, and when too much is taken,one side or the other simply walk away from the transaction.

  As for how to define how much is too much, look at the fact that federal revenues have been ~20% GDP for over a half century. Nothing screams idiocy like the inability of economists, pundits, and politicians to not recognize a fixed budget when it is staring at them in the face. Stop spending more than you have, and quit stealing from the fuure via deficits. It ain’t that hard to figure out.

  The big question that everyone seems afreaid to ask: why not just eliminate all concepts of deductions then make all forms of income of all types and sizes equal (low, high, personal, corporate, earned, unearned) and tax everyone at 10%? The business income tax is really a consumer tax, and I think the aggregate revenue would be 20% GDP. No, not even Steve Forbes advocated that type of flat tax.

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  • johnpaulkuchtajr

    Posted on November 27, 2012 at 3:03am

    Hey Rip,

    That’s it my man, STOP THE DEFICIT SPENDING.

    But the Republicrats are happiest when they are being led like sheep to the slaughter as they sign on to greater and greater deficits.

    It’s hard to imagine 310 million Americans waking-up one morning with a stupid look on their faces as they try to figure out why nobody is buying our worthless debt, the dollar has crashed and a gallon of gas costs $20.00, when you can find it.

    Simple plan to save this economy:

    1. Stop the deficit spending. Just STOP.

    2. Throw out the 64,000 page IRS reg book and institute the FAIR TAX.

    3. Allow US Corporations to repatriate profits currently held in overseas accounts back to the US for purposes of capital expansion. That’s injecting $1 trillion per month every month for 13 months directly into our economy.

    Think these three steps won’t do the trick?

    How’s the current plan working out for you?

    “Remember Benghazi”

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  • naughtycal

    Posted on November 27, 2012 at 8:07am

    Washington needs to be fired if any other business ran a deficit of 44% like D.C. it would be shut down. Americans need to quit investing in D.C. aka Tax Revolution we also need to stand firmly together in solidarity and protect those the system wish to make an example of……exercise the 2cd amendment and defend our countrymen against tyranny. Hopefully only a show will be needed to send the message that Washington has gone way too far.

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  • JRook

    Posted on November 27, 2012 at 10:50am

    One needs to understand what causes deficits and what they represent before deciding how to best tackle them. Let’s keep in mind that $10 trillion of the deficit was run up under Reagan, Bush Sr. and Bush Jr. and Bush Jr. left the PRESIDENT a $1.2 trillion deficit run rate. But with regard to the $10 trillion it represents past spending the was not funded at the time by adequate tax revenues. In cases where deficit spending is associated with an investment in education, infrastructure, technology and the like it should provide for economic growth and thus is good. But only if tax rates are held constant so that the additional tax revenue from the growth can be used to pay off the debt. And it is important to remember that the majority of deficit spending goes to defense contractors, infrastructure and IT companies, not to 15 year old welfare moms. The individuals who acquired wealth as a result of this spending should bear the burden of paying it off. Our children and grandchildren should not pay off the debt run up by the baby boomers. The annual deficit should be addressed with ACROSS the board spending cuts and adjustment to tax rates until it is balanced. The longer term deficit should be addressed with a VAT tax earmarked to pay it down. With those two actions the markets should respond very positively.

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  • NovemberTwentyseven

    Posted on November 27, 2012 at 12:23pm

    The President and the Democrats know that raising taxes won’t fix the problem. Republicans still think that Democrats want to fix the problem. Read fresh Political comentary at: http://smallcraftadvisorychronicles.blogspot.com/

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• grayling646

  Posted on November 27, 2012 at 1:03am

  That’s funny. They think someone wants to solve a problem.

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