“Taxing the Wall Street trades makes more sense to me than anything else they are proposing.”
Where do you think that money comes from? Our economy as a whole! The largest employer of American workers are the small business owners, correct? Where do the small business owners get their money to run and maintain and grow their businesses? From larger companies and people who INVEST in Wall Street.
You don’t want them to rob Peter to pay Paul, now you want them to rob Peter slightly less, but it’s okay because they are now going to rob Patrick too!
When you say “Wall Street” who do you think you are talking about? I have a 401K through my company which works that income through Wall Street - you are taxing ME (along with almost ever working person out there) again. So, you didn’t rob Peter and Patrick, you just robbed Peter twice.
Again, we CANNOT tax our way out of this situation. We have to GROW our way out! And you are right, cutting the credit card doesn’t solve the problem - that’s why I said we have to have more income! The US government does not make money - they collect it - period! We need to GROW what they can collect!
They will start taxing the Roth IRAs and/or just start confiscating 401ks.
nothing would surprise me any more.
Hmmm. Cut taxes in order to get business growth. During this recession we lost around 3.5M+ jobs. Adding 700k jobs per year will still take 5 years just to replace the lost jobs. In the meantime, the existing debt payments continue. Until somebody proposes a reasonable alternative, the idea of a VAT on financial instrument trades, specifically for paying down the debt, is fine with me.