Taxes Avoided by the Rich Could Pay Off the Deficit

Started Aug 28, 2012 | Discussions thread
Chato
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Re: 2001 was pretty obvious
In reply to lownine, Aug 29, 2012

lownine wrote:

Chato wrote:

As for the idea that there are no new programs or expansions waiting in the wings to gobble up this new windfall...let me guess. A new "pledge" signed by politicians? Or maybe you're ready for a balanced budget amendment?

What with the budget being balanced and the CBO telling us that the entire National debt would be paid off by 2012.

That to is "obvious."

But of course, "my bad." I keep forgetting that events of over two years ago, let alone twelve, are ancient history, and we study that like we study the works of Thucydides...

Hey, if you're correct that the gap between revenue and expenditures could be bridged by taxes that are now owed under present law , but which remain uncollected, I say build a collection machine ten times bigger than the present one. Cheap? No...until you examine what it can deliver. THEN, it looks cheap AND brilliant. It's like the sales pitch for most efficiency gambits. "It pays for itself."

Of course, maybe the real secret is to let the air out of the urgency balloon by staying away from wars and Part D....among many, many other things.

The Democrats as a "Party" have become almost as pro corporate as the Republicans. Mr. Clinton, AND Mr. Obama both tried to implement Republican programs, and by doing so have hurt the Nation. But both of them were "common sense" Republicans who at least have an approximate grasp on reality.

Neither Clinton or Obama made any attempt to expand Social programs, that would cost the treasury money. Clinton handed to Bush a budget that was balanced, and which didn't have new Social programs. Mr. Bush handed Mr. Obama a budget with a 1.2 Trillion deficit, and little wiggle room to reduce it. And whatever Republican ideas that Mr. Obama pushed - were of course sabotoged by what passes for Republicans in Congress.

This essay that I posted simply points out the immense wealth that bi-partisan programs of Clinton, Bush and Obama have allowed the wealthy to acquire - And how easy and painless it would be to eliminate the deficit.

Now to show you how far the Republicans have drifted, when Kennedy back in the early sixties proposed reducing the marginal top tax rate from 90 to 70 percent, it was over the objections of Republicans who worried about whether such an abrupt rate lowering would create a deficit. Now, the only way the Republicans can think of to reduce the deficit is more tax cuts for these same stuffed with money rich, and to cut Social Programs which are not adaquite to begin with.

Dave
--
"Everyone who has ever lived, has lived in Modern Times"

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