reply to post by ProfEmeritus
Your definately don't realize that we are in a 10 trillion dollar debt. Are debt has gotten so bad that we have to raise taxes.
This is because the last 8 years we have not paid any bills.
The estimated population of the United States is 304,933,911
so each citizen's share of this debt is $33,905.26.
The National Debt has continued to increase an average of
$3.45 billion per day since September 28, 2007!
We have a 13 trillion dollar GDP.
Where is McCain going to get the money to pay for his plans or to stay in Iraq?
He will have to borrow us into oblivion in order to say he didn't raise taxes.
As a business owner, I would rather make $450,000 instead of $500,000 so my kids and grandkids will not be born as debt slaves because we don't pay
our bills as a country.
Any business owner knows he doesn't have to pay taxes on his/her income. They can make a million dollars a year and then pay themselves a $150,000
salary. This means this person will make less than $250,000 when they pay taxes but it's not what their business earned.
The way the US Treasury makes up for this is through borrowing from social security.
So, the poor people that some are complaining about actually keep the nation running because business owners can get around paying taxes on how much
there business makes.
Things have gotten worse under Bush because he didn't pay for anything.
I'm all for cutting taxes but you have to control spending.
Bush paid for nothing.
WASHINGTON — George W. Bush, despite all his recent bravado about being an apostle of small government and budget-slashing, is the biggest spending
president since Lyndon B. Johnson. In fact, he's arguably an even bigger spender than LBJ.
“He’s a big government guy,” said Stephen Slivinski, the director of budget studies at Cato Institute, a libertarian research group.
The numbers are clear, credible and conclusive, added David Keating, the executive director of the Club for Growth, a budget-watchdog group.
“He’s a big spender,” Keating said. “No question about it.”
When adjusted for inflation, discretionary spending — or budget items that Congress and the president can control, including defense and domestic
programs, but not entitlements such as Social Security and Medicare — shot up at an average annual rate of 5.3 percent during Bush’s first six
years, Slivinski calculates.
That tops the 4.6 percent annual rate Johnson logged during his 1963-69 presidency. By these standards, Ronald Reagan was a tightwad; discretionary
spending grew by only 1.9 percent a year on his watch.
Discretionary spending went up in Bush's first term by 48.5 percent, not adjusted for inflation, more than twice as much as Bill Clinton did (21.6
percent) in two full terms, Slivinski reports.
We have to raise taxes after Bush because we are tapped out when it comes to borrowing.
The poor actually pays the bills in this country and this is why the Treasury borrows from Social Security.
A person like Steve Jobs can be paid a dollar a year and be worth billions. He only pays capital gains tax and it's ways to get around that with a
You can buy bonds based on securities and there will be no capital gains tax because your not selling anything. You can keep moving your money around
to avoid capital gains tax.
So we have to raise taxes in this enviroment. We have to pay the bills.