originally posted by Johnny2127
Actually not true. Revenue is higher now than 10 years ago. Hence its pretty easy to see that spending is the issue. Plus corporate tax rates are
the highest in the industrialized world, so if your idea is to tax them more, you can watch even more jobs leave.
Tax Revenue in 2000: $2,025 Trillion
Tax Revenue in 2010: $2.165 Trillion
Tax Revenue Peak in 2007: $2.568 Trillion
Govt Spending in 2000: $1.789 Trillion
Govt Spending in 2010: $3.721 Trillion
SOURCE: Tax Policy Center
Yes, spending has more than doubled. Govt is too bloated. No way around that. Always best to look at the facts before posting assumptions. With
your way of thinking, govt should continue on their spending binge and we should more than double taxes. Of course this would only get us to break
even, and we wouldn't pay off any of the $14 trillion in debt. Govt is the problem, not the solution.
Response by Flatfish:
I would fully expect a gradual increase in tax revenue if for no other reason than to account for continued population growth, wage increases and
inflation in general. The same could be said for a gradual increase of expenditures or liabilities as baby boomers retire etc...
What I do find intriguing is the fact that you utilized government spending data for the years 2000, ( Clinton era spending levels) and 2010, ( 11
yrs. into the illegal Iraq war and in the middle of a desperate attempt to recover from a recession caused by Bush era policies and tax cuts for the
From the same source cited in your response, you might want to take a look at the chart which reflects corporate income tax as a share of the GDP from
1946 thru 2009. www.taxpolicycenter.org...
You will notice in this graph that in 1952/53, corporate income tax made up approx. 6.2% of the GDP while in 2009, it had fallen to 1% or less.
The Business Insider has 15 very interesting graphs that illustrate quite well, not only the growing gap in wealth distribution in America, but also
the growing gap in the distribution of our tax burden. Check it out here;
You can't "squeeze blood from a turnip" and the same is true when it comes to squeezing taxes from those with no money. Like I've said before, taxes
have to be collected from where the money is and not from where it isn't. So I guess, all the ultra wealthy have to do in order to avoid being taxed
on their massive wealth is to turn loose of some of it. Problem is, their greed would never allow it.
edit on 17-12-2010 by Flatfish
because: (no reason given)