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Originally Posted by SOREHOOF
Didn't SS pay out more than it took in in 2010? How is that solvent.
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http://en.wikipedia.org/wiki/Social_...ited_States%29
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The tax cuts create more revenue for the Govt. FACT.
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So you believe "trickle-down economics" works. A few decades of experience in this country says no, according to most economists. But some of you remain with that belief. I don't know what supports that, however. The facts don't.
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If you raise income taxes on the wealthy they pay less taxes. They didn't get wealthy by giving their money away. A lot of wealthy people pay no income tax. They stop showing income when the tax rates get too high. That is how they stay wealthy. Income Tax does not tax wealth, just income.
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You don't have to raise the tax rate. You cut the loopholes so private citizens and corporations - especially corporations, such as the top ten biggest in this country who pay zero taxes - stop paying no tax. Then you could probably even lower the tax rate for everyone, corporate and private.
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Do you want to seize property from the wealthy to make up for a lack of income?
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No. I live in a democracy, where illegal appropriation of property doesn't cross one's mind as a solution to anything.
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The Govt. is going to have to start spending within its means.
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The government should stop giving away our money to it's special friends, then crying broke.