If you assume we got the same revenues we did in 2008 in 2009, 2010, 2011, and 2012, there would be a total of about $1.2 trillion more in revenues over that time period. An average of $300 billion a year (2012 numbers are estimates).
Unfortunately, deficits over that same period total about $4.7 trillion. A factor of four.
You still going to tell us the problem is “not enough revenue?” There’s “stuck on stupid” and then there’s “molecularly welded to stupid.”
“The Bush tax cuts are the problem.” That’s the mantra. And yet somehow we generated record revenues under those rates, exceeding any during the Clinton years.
Get rid of all the Bush tax cuts across the board (middle class, too) and you bring in about another $370 billion a year. The CBO, under Obama’s spending plans, which specifically include keeping the $300 billion in middle-class tax cuts, has predicted no deficits over the next ten years smaller than $488 billion, and most are larger.
Don’t you get it? Repealing the Bush tax cuts will not save us. That's the math.
Getting people out of political office who think private wealth is a crime against humanity just might save us.
Current Events » in reply to By the way
Where are you getting that half trillion?
The whole thread (24 posts)
- Exactly how much has Obama increased government spending?
- Well. Three "Pinocchios" from the Washington Post.
- So, it's all about the "growth?" What about the actual amount?