Posted on 07/06/2011 3:27:23 PM PDT by Windy City Conservative
When our cummulative government spending (which, as Milton Friedman showed is what government total taxation by all means is) is around 40-45% of GDP, raising any more revenue by increasing tax rates is impossible.
Look at the damned curve!
Therefore, any tax rate increases agreed to by Republicans will have two effects:
1) Lower economic growth, AND
2) Less tax revenue to the government.
This is economically stupid two ways. Plus it is politically stupid.
Deeply Stupid. Count on the RINOs to cave in to stupid.
Names of all Republicans (RINOs) who vote “Yes” on such nonsense. ID them for the TeaParty treatment...
They'll probably start a new "breathing fee". Of course the "poor" will be exempt.
It’s a little late, but here’s a good link. ...seems there’s a bit of a propaganda fight here and there over this news. ...told you all that they’d be sneaky.
Republicans agree to revenue increases: Senator Kyl
http://www.reuters.com/article/2011/07/06/us-usa-debt-idUSTRE7646S620110706
There is no way you can justify ‘increasing revenue’, yes, taxes, and then go after budget cuts. The spineless elites caved ONCE AGAIN.
OK, what about the millions of Americans that make 40,000 and pay NO income taxes? You willing to have them taxed. At least a little?
Actually, I would exclude the little old ladies that live off the dividends they receive. But I would apply the income tax to all. I paid it when I made less than 40K.
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