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To: bjorn14

Point out that tax revenues are only 60% of what the government spends. That would require Obama to raise taxes 40% by his favored solution- not gonna happen. So a second Obama term would mean a continuation of a Japan style lost decade (lost two decades), and perhaps a slide into hyperinflation. No jobs, slow growth, declining wages, no problems solved.


32 posted on 11/03/2012 6:42:46 AM PDT by DaxtonBrown (http://www.futurnamics.com/reid.php)
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To: DaxtonBrown
Point out that tax revenues are only 60% of what the government spends. That would require Obama to raise taxes 40%

Actually, they would have to be raised by close to 70% (it's not simple addition and subtraction ... simple example ... if revenues were 50% of spending, taxes would have to increase 100%)

33 posted on 11/03/2012 6:48:55 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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