He claimed about half the deficit was from the tax cuts, that seems to be an "impression". Debt to Social Security and Medicare will be dominated by the voting power of the people who demand it as they retire. You can grizzle about it but that debt is likely not going away.
So you can look at dealing with it. That involves paying down debt and deficits now while these people are still working for the next 7 years. As they start retiring they will be less and less paying taxes and more and more drawing on government revenue.
I don't think the point is for tax cuts to the rich to buy votes but to get campaign contributions, to far out advertise the Democrats. If someone has say 5 times the money they have 5 times the TV ads.
There are no tax cuts since they just made a deficit. Say you are paying off a car and the finance company tells you that they are cutting your payments in half but you still have to pay the same amount with extra interest. In what way did they give you a cut?
Every cent of the tax loan has to be paid back by someone, their descendants, by immigrants, or by defaulting. The invisible hand of the market won't change that, it's just going to give people an atomic wedgie when the interest on the debt is due.
Maybe the rich are going to do an Atlas Shrugged when the debt gets too high and move to the Cyman Islands.
Current Events » in reply to Deficits
are you saying Maxspeak is wrong?
The whole thread (35 posts)
- here's your tax cut/loan
- you should ask Maxspeak about some more things (n/t)
- re: you should ask Maxspeak about some more things
- you don't understand the terminology
- P.S. For a good time, look up Greenspan's background. (n/t)
- By the way...
- Tell ya what. Why don't you explain it to me?
- you don't understand the terminology
- re: you should ask Maxspeak about some more things
- And that money was buried in the backyard in coffee cans?
- Interesting number. Where did he get it? Or, if you prefer, what are his "references?" (n/t)
- you should ask Maxspeak about some more things (n/t)