Obama only started claiming tax cuts a couple of weeks ago. I have not read exactly what he means, considering that up until then he was promising tax increases. But an editorial in the Wall Street Journal described them as tax credits, not cuts. Just FWIW, I'm not to familiar with it yet.
Biden calls paying higher taxes a patriotic act Is this a joke?
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Obama only started claiming tax cuts a couple of weeks ago. I have not read exactly what he means, considering that up until then he was promising tax increases. But an editorial in the Wall Street Journal described them as tax credits, not cuts. Just FWIW, I'm not to familiar with it yet.
The problem with Biden's idiotic statement is that the government has a long track record of spending in excess of 100% of whatever tax revenues they get. Increasing the amount the government gets will only increase what they spend.
In any case, taxes should be designed to produce maximum revenues with minimal negative effects on the economy. As Reagan proved, lower taxes can produce a bigger economy that produces more tax revenues. The democrats like to call this trickle down economics. They seem to think sowing hatred against those who earn is the way to bring us together as a country.
To correct Biden, the patriotic approach is to foster a growing economy, which will provide jobs, opportunities and as a side effect, increased tax revenues.
In any case, taxes should be designed to produce maximum revenues with minimal negative effects on the economy. As Reagan proved, lower taxes can produce a bigger economy that produces more tax revenues. The democrats like to call this trickle down economics. They seem to think sowing hatred against those who earn is the way to bring us together as a country.
To correct Biden, the patriotic approach is to foster a growing economy, which will provide jobs, opportunities and as a side effect, increased tax revenues.
Look here: http://www.elitetrader.com/vb/showthread.php?s=&postid=2063933&highlight=factcheck.org#post2063933
This is the kind of blind partisanship I hate. Despite me giving you the facts and showing you where I got them, you still refuse to believe anything that may conflict with your right wing-bias.
This is the kind of blind partisanship I hate. Despite me giving you the facts and showing you where I got them, you still refuse to believe anything that may conflict with your right wing-bias.
As bad as the right wing is, the left wing will make your life a living hell.
Um, NOPE.
Reagan was a perfect example of government spending more than it took in. Under Reagan, certain payroll taxes even increased.
The budget mess left by Reagan forced his successor to break his promise of no new taxes. Under Clinton, the budget was finally "balanced". Steve Forbes and others predicted depression and disaster when Clinton raised taxes, but they were wrong.