New York to Tax the Rich

[BT]

If the government can justify the need to raise income taxes then those taxes should be raised on everyone. And if the method is to allow the Bush Tax cuts to expire then so be it.

Shouldn't hurt the poor that much since everyone says the poor didn't benefit from the Bush Tax Cuts.

[BSB]

Well, I'm good with that. We have to work both sides of the street here. Cut spending, and raise revenue.


BSB

[Plane]

What if cutting spending did raise revenue?
A growing economy would be a nice thing to see.
How do tax increases grow the economy?

[sirs]

That does seem to be the big gorilla in the room, that of the exponential spending going on in DC.  How many times have we heard, from BOTH the GOP and Democrats that one of the worse things you can do in a recession and to inhibit a growing economy is raising taxes.  Yet that seems to be what everyone wants to talk about

Is it because its politically easier to do??  The cowards way to politics? 

There's a great line, that I think has been referenced before, and if so, it's worth repeating.  "There will come a time when you must choose between doing what is right and what is easy"

[BT]

What if cutting spending did raise revenue?

How would that happen?

[Plane]

What if cutting spending did raise revenue?

How would that happen?

     It is the same principal as planting more acreage.

You can plant more densely and farm more intensely on a fixed acreage but you get near the maximum possible productivity of the soil and you strain the soil, so that you gain only a bit more this year and loose the same next year.

   Or you can farm additional acres , and gain production without harming the land .


     If  businesses and individuals are already being taxed near their maximum ability to pay , then every bit more tax is money removed from productive ability and every bit less tax is money made availible to productive capability.

     Under which circumstance would a successfull business hire more persons?  If the tax is reasonable perhaps they hire four , taxes a bit lower might allow them to hire five.

       It is hard to dispute that high Taxation is contrary to employment , this is an easily proven point.

       So do you want to tax more people , or tax fewer?

[BT]

Umm so how does cutting govt spending raise govt revenue.

[sirs]

How do tax increases on everyone, especially "the rich" grow the economy?

[BT]

Separate issue.

I'm seeking clarification from plane on his hypothesis about govt spending.

[kimba1]

too much going on, no one thing will solve this.
tax everybody
get businesses to hire unemployed
lower medical cost and I`m not talking what patients payments.

this is just a start

[sirs]

Separate issue.

I'm seeking clarification from plane on his hypothesis about govt spending.

Ok, but I think we can manage to multitask, and address the issue I asked......How do tax increases on everyone, especially "the rich" grow the economy?

[BT]

It lowers the amount of deficit while at the same time lowering the money supply to thus lessening the hidden taxes of inflation on the economy.

[sirs]

That makes no sense from a business or personal standpoint.  The less money people have, by way of higher taxes, the less they spend, be it on necessities or more so, wants --> less sales tax revenues and decreased economic growth.  The less money businesses have, by way of higher taxes, the more they horde what $$$ they do have, the less they expand, the less they hire --> less income tax revenues and decreased economic growth

It's what both Republicans and Democrats have said for many an administration when it came to taxes and recessions

[BT]

I believe we a discussing primarily personal income tax. And i guarantee you inflation will take a bigger bite out of your spending power than the few points the average joe has to pay in additional taxes. Remember the rich benefited from the Bush tax cuts so the average joe shouldn't feel the bite at all.

And i just think it best if taxes must be raised and if their taxes raising is justified then every person who draws a paycheck should roll up their sleeves and help out. For the fairness.

[BT]

And what i am really against is this 99% vs the 1% bullshit. We are americans damnit and if the country is in trouble i expect 100% participation in helping to fix it. Just like how we came together after pearl harbor.