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Originally Posted by dellinger63
Of course I would support a 700 billion cut but conveniently wording a 700 billion income tax raise as a cut doesn't make it so and some are smart enough to figure that out.
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Not that smart. When you have a set income level coming in, then you decide you don't need that amount of income any more (lets say 700-billion), yet you do not cut your spending by 700 billion in order to live at your new lower income level - you get in trouble.
Bush gave tax cuts, he cut the country's income, but those cuts were completely unfunded. Oh yeah, and two unfunded wars. That put us in deep, deep debt. We are in trouble.
So yes - the income tax
should go back to what it used to be, for the top 2% of wealthiest Americans, affecting only their income over $250K, because it will cut our America's budget deficit by 60%!
BTW - you do realize that both the Bush temporary tax cuts were set to expire at this time purposely, right? Figuring there would be a Democratic President?
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The credit cards must be taken away and cut up immediately!
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If only that was the rallying cry by the GOP during Bush's unfunded tax cuts and unfunded wars, that greatly put us into this mess.
BTW, I am in favor of a flat rate income tax. I am not in favor of a national sales tax at a flat percentage, because right now that percentage would have to be between 21% and 26% to provide us equal income. I don't want to pay that on food, cars, etc.