Published: Thursday, Jan. 3 2013 12:00 a.m. MST
It is so sad that the rich, over 400,000, will have to pay a tiny bit more
income tax. NOT.The strategy to stop any more downward distribution
of wealth is proceeding ahead at full bore. Having stopped any wage increase in
the last 30 years, the emphasis now is to stop the government from taking any
more money from the rich and giving it to the ordinary people. Do
they know something we don’t. Is America really dead and they’re
not letting us know. Their attitude seems to point to a lack of confidence on
their part that America will not be around much longer. Therefore don’t
invest, don’t expand, just gather as much as you can and get ready to run.
If only we could have a new birth of freedom, a new emancipation
proclamation, a new formula for distributing the wealth of human labor. Then we
could say to those opportunistic quitters, God Speed. And be better for their
Spending is the real issue. Obama's only proposal -- taxing the rich --
falls far short of solving the problem.Do the math. The CBO says
that the tax increases just signed into law will raise $600 billion over the
next ten years. On average, that's $60 billion per year. But our budget
deficit is $1.2 trillion per year. This means that the new tax rates provide
only 5% of what is needed to balance the budget.Our problem is
caused by over-spending, and it has been all along.
If we're not willing to tackle military spending, we're not serious
about spending cuts.
Yes DN the "deal is done" on taxes, no thanks to most of the Utah
congressional delegation. But really the deal is not done on taxes until we get
rid of the tax subsidies that allow corportation to pay little real tax, like GE
who has a plethora of accountants whose only job is to see that they find enough
deductions to eliminate federal income taxes entirely. We do need to revise the
tax code. And I am not sure that churches should not be asked to pay a
reasonable share on their contribution income offset by financial contribution
to legitimate charitable causes.
Cut military spending back to what it was in 2000, that plus the recent tax
increase cuts approximately 80% of the deficit.Increasing the cap on
Social Security would return the budget to the black.Doing the above
and cutting spending across the board by an additional 10% from the
sequestration and we are easily running in the black and the current debt is
able to be reduced by $500 Billion the first year, and increasing each year as
debt payments decrease and increased revenue can be put towards debt payoff.In approximately 10 years, the debt would be paid off and the budget
would be showing a positive revenue of $1.5 Trillion per year if no growth in
spending occurred in that 10 years.Imagine what we could accomplish
with positive revenue flow. Infrastructure improvements paid for up front and
tax increases without breaking the budget all while allowing a balanced budget
to go forward.
We spend 633 billion on the DOD alone. Canada spends 25 billion. So we can give
the DOD 100 billion and save the rest.
@Natedid you bother reading the editorial including the quote from Obama
they night the budget passed?
If the editorial position of the Deseret News is that spending cuts are needed,
it would be helpful if they'd offer some specific recommendation of cuts to
be made and justify them.
Blue's right. If they can't get past stiffing Big Bird to something a
bit more substantial, then they're exactly where the last GOP campaign
ended. Please give us something to consider.
Balderdash!! There will NEVER be a single dollar cut in spending. The ONLY thing
the fed's do is monkey around with the RATE of spending increases and then
think you are dumb enough to equate that to actual cuts. Now the military will
be cut to the bone because any good liberal hates any form of national defense
but the rest of the giant porker entitlement barrel will remain untouched and
even continue to grow. Liberals stay in power by giving hand outs so asking a
liberal to bite the hand that feeds him anin't gonna happen folks. America
is a has been and the election of 2012 wrote that in stone for the ages.
@spring street "did you bother reading...?"Of course. And
despite Obama's lip service to fiscal responsibility, the spending keeps
going up. Watch what he does, not what he says.
@Mike in Cedar City:"But really the deal is not done on taxes until we
get rid of the tax subsidies that allow corporation to pay little real
tax..."Corporations don't pay taxes. Only people pay
taxes. If corporations pay a 'tax' they add the 'tax' to
the cost of the produced goods and services thus passing the 'tax' to
the consumer. "And I am not sure that churches should not be
asked to pay..."That would be against the Constitution which
says: 'Congress shall make no law respecting establishment of religion or
prohibiting the free exercise thereof.'Taxing religions would
have the net effect of governmental involvement in religion.@Mark
B:"If they can't get past stiffing Big Bird to something a bit
more substantial..."Big Bird was just an example of where tax
dollars are wasted. Big Bird is wealthy enough to support him/herself. Dumb
Democrats assumed Mitt was attacking a gangly yellow bird when in fact he was
attacking frivolous tax expenditures."Please give us something
to consider."Cut bloated government expenditures.
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