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Originally Posted by joeydb
The spending being too high is not the backwards way to look at it. It's the only way. What do you do (or would you do) when your own personal budget is in the red? You can't hit up your employer for more money at will, so you cut spending until you do earn more. You optimize what you spend, eliminating frivolous things and less efficient returns on your money.
What you said in your direct question to me is false. You are assuming that people will work just as hard even though they are taxed more, receiving less profit. That is false. THAT is also the reason that employers move jobs outside the country in the first place. Spending needs to be CUT, like it or not.
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The country had a certain amount of income (taxes)
Our representatives decreased that income (cut taxes - twice)
At the same time, our representatives did NOT cut spending. In fact, they not only kept spending at the previous level, they increased it.
Now we are getting deeper in the hole every day.
Those tax cuts are expiring. If the majority (population-wise, people affected) of those tax cuts are extended, and a very small percentage of those tax cuts are allowed to expire, our trillion-dollar deficit will become very small, very quickly.
Yes or no, Joey? Are you in favor of that, or not? Here is something to help you decide:
And if you don't want to do the above, please list what spending you would like to cut out of our budget, (the spending that should have been cut intially, when those tax cuts were enacted during the past decade), that will result in the same huge 1/3 deficit cut, just as quickly?
Quote:
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What you said in your direct question to me is false. You are assuming that people will work just as hard even though they are taxed more, receiving less profit. That is false. THAT is also the reason that employers move jobs outside the country in the first place. Spending needs to be CUT, like it or not.
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No, it is not false. It has nothing at all to do with people working or any assumptions. It is simple math - increasing our income back to the levels it was, before the temporary tax cuts. Nothing else changing, with spending at the current level.
And yes, prudent budgeting ("spending cuts") is a good thing, too.