Published: Monday, Sept. 30 2013 4:00 p.m. MDT
I bet those 800,000 government workers would care.
"we need one [government] that pays its bills and quits running up
debt..." I wholeheartedly agree. And the way to do that is to discard
Reagan's failed trickle-down economics and go back to the tax structure
that we had 50-70 years ago when the US economy was booming and the middle class
was healthy and growing. All tax rates were higher then, and the tax rates on
the highest earners was upwards of 80%.
Freonpsandoz, you are spot on. There would be no debt crisis were the old rates
in place. But it is a waste of time mentioning such here, alas.
how about if we just shut down the White House...for about 3 years?? BO can
spend his time on late night entertainment shows and the golf course. I guess
not much would change would it.
Freonpsandoz and marxist, do you also want to go back to the pre-1986
deductibility of personal interest? And eliminate the EIC? And restore other
deductions, tax loopholes/shelters/breaks that existed when marginal rates were
higher? I've read many claims that few taxpayers ever really paid taxes at
those high marginal rates, due to the myriad ways of sheltering income from
these rates. And thus those high rates never really harmed the economy (but did
cause some capital to be directed towards bad investments)Going back
to the old system might have great economic benefits. After all, if personal
interest on car loans were 100% deductible, people might buy a new car every
year or two to take advantage of the tax break.Are you really
advocating going back to taxing 20% (1960 rate) of the first dollar of taxable
income? That would be about $6000 tax on the first $30,000 taxable income in
Don't worry, the White House and the media are working hard to make sure
everyone notices...and blames the Republicans. Even though it is Reid and Obama
that have planned this shutdown for weeks now, maybe even months.
The Senate hasn't passed a budget in over 5 years. Nobody seems to be all
that worked up over that. In fact, how many people even know? And out of those
that know, how many realize how criminally stupid that is?Perhaps 5 years
from now we'll be talking about how the government has been shut down for 5
years and nobody really cares!
Freonpsandoz, MarxistAccording to a recent article by Forbes, the
top 400 wealthiest American's have a net worth of just over $2 trillion.
So even if you took every single penny they have, and taxed them at 100% after,
you still wouldn't touch the debt of the US. But please,
don't let common sense blind you.
Anarchy for sure! not! is there any way we could make this last for a
Too late. The stock market noticed.
The fact that many people may notice it has shut down is evidence that the
federal government has grown way too big.
families without a paycheck will notice.
@Social Mod Fiscal ConThe Senate passed a budget earlier this year. The
House had refused to go to the conference committee since the two chambers
passed different versions.
@FreonpsandozWe have a spending problem, not a revenue problem.If the income tax were raised to 100%, how much money would the
government get?Not a stinking red cent. Nobody would work for
nothing. As tax rates increase it destroys incentive. If you raise taxes high
enough tax revenues actually go down. Raise them to 100% and they go all the way
down to zero. The economy boomed when Reagan lowered the tax rate.
Under Obama the poor are hit the hardest. Black teen unemployment is something
like 37%. Poor working people are losing their full time status because of Obama
Care (how is that for compassion?).If you took everything away
produced in manufacturing, mining and agriculture there would be nothing left.
All wealth is created in these three industries. Obama thinks you can stimulate
the economy with government spending. Government consumes wealth, it does not
create it. Obama's plan will make things worse. Much worse.If
you want prosperity you have to obey the laws of economics. You cannot create
prosperity without creating wealth. Strictly follow the constitution and we will
get back on course. Our present government will not do that.
I will notice, and I'm pretty sure the rest of the 800,000 will as well. I
have a family to feed and a mortgage to pay. It's all fun and games to
those of you who this doesn't impact, but please remember those of us who
are not going to get a paycheck if this nonsense continues. And we aren't
all corrupt politicians or lazy government paper pushers.
I haven't noticed yet. Can I stop paying taxes? I bet not. But I bet that
even with the government shut down, we are still deficit spending. That is what
is really scary. I hope the Obamas can't take Air Force 1 for
any vacations during the shut down. I hope he had the foresight to go to
Washington before midnight. - Questionable. For a guy who really
wanted to be president, again, he doesn't seem to like being in Washington
Mr. Rock, we aren't talking about tax rates here. This thread is supposed
to be concerned with the shutting down of the federal government, starting
tonight. And, BTW, the Constitution does not contain anything about the
nation's economic system. Please concentrate.
Wouldn't it be great if we could just get the 49% Who pay nothing to start
paying their 40%! Takers vrs Makers! Time for a revolt......
Most of those 800,000 Federal employees are just ordinary working people who
have mouths to feed and bills to pay. They would care, their families would
care, and the people who need the services they provide would care.Now, if Congress and the President were furloughed, who would notice? It
isn't as if they are working people who actually serve a useful purpose.
I'd trade the whole lot of them for one day of keeping research going at
the Centers for Disease Control or one day of keeping Yosemite open.
While I agree with your general sentiment and questioning about life going on
untroubled because for one, people are uninformed, but the facts underlining
your argument is what is is truly troubling. Life WILL be altered for hundreds
of thousands because of this. But then again, for years now, life HAS already
altered for thousands as well do to the greedy actions of a Wall Street few, and
this past year, sequestration HAS affected many families. Why haven't we
talked about that? Most folks lucky to have kept their job this last few years
either aren't aware of the struggles of those affected by structural
changes in the economy, or could care less because their personal fortunes
haven't been affected. Why worry about that 10-15% of those affected, when
it's easier to focus on the 85-90% who seem to be okay?
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