Posted on 02/12/2020 12:37:08 PM PST by Oldeconomybuyer
“I was around in the 1990’s so don’t BS me. Clinton raised taxes and the economy went to sh!t. Then in ‘94 Newt and the R’s took over and lowered taxes and the economy went up up up. That is what balanced the budget in the 1990’s.”
Ironically, it was one-time conservative John Kasich, who led Clinton, kicking and screaming to cut the budget.
I can still remember Clinton faking looking for cuts and announcing in a press conference that they could find no more (after defense cuts).
You are correct. It was Newt with Kasich as the House Budget Chair.
OIF veteran has it all wrong about the 1990’s. He and his deficit chicken hawk buddies can stuff their desire for tax increases up their < expletive deleted >.
Well excuse me for wanting to do something about the huge debt we are leaving to my children and future grandchildren. To determine a correct course of action to reduce this debt I look to what worked in the past. Increasing taxes and cutting spending seemed to work under Clinton.
If we look back further in our history, say the 50s, when the deficit and debt weren’t so out of control we have a tax rate of 90% on the highest earners.
Further our deficit and debt began to explode under Reagan in the 1980s. And what did Reagan do? Cut taxes to the lowest they had been since the 1920s.
I’m all ears if you have a viable plan to help balance the budget and pay down the debt. However, we have been cutting taxes since Reagan (with the exception of Clinton) and trying to grow the economy to get us out of debt, and IT HAS NOT WORKED.
All I know is RAISING income tax rates IS NOT THE ANSWER.
You are not all ears what you are is a hard headed fool. But I will try...In the 60's and 80's federal revenue ballooned because of tax cuts. Learn history before posting, PLEASE.....
I am ok with cutting spending so IMO you should stick with that.
The issue isn’t the tax rate, it’s tax receipts. They keep going up, but the spending goes up faster.
TheONLY places to cut, at this point, are Social Security, Miltary, and Medicare expenses.
Good luck getting that cut.
The only thing I can think of is to remove the cap on social security taxes, bring troops home, and pass a law that any tax revenue increases be dedicated to reducing the debt.
The good thing is the debt is currently paid at a low rate. That isn’t going to last forever.
And in the 80s, when tax rates were reduced to their lowest levels since the 1920s, the deficit and debt exploded! That is history.
Considering that you could cut all spending except for social security, Medicare and Medicaid, defense, interest on the debt, and we would still have to borrow to cover just those someone has to be the adult and tell the American people If you want these programs you have to pay for them. Certainly the democrats will not be the adults.
That’s why I believe conservatives should become the party of fiscal responsibility again by paying for the programs the majority of Americans want.
I agree we should remove the cap on social security taxes, and add a maximum benefit amount allowed. I would also change the Medicare law to double the Medicare tax to 2.9%. (When the Medicare law was passed it required the tax to only cover a third of the programs cost, the rest is by law covered out of general funds).
I think with those two changes we would be well on our way to some fiscal sanity.
It is not possible to raise income tax rates high enough to cover the government programs. There is an upper limit to how much can be raised with income taxes NO MATTER HIGH HIGH THE RATE.. That is why Republicans need to get behind protective tariffs NOW.
Tariffs and lower income taxes = prosperity and fiscal responsibility for all.
Dear financial dumb a$$. A book keeping ledger has two sides INCOME VS EXPENSES. Income ROSE in the 1980s which is a good this you fiscal idiot.
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