[quote]dhickey wrote:
Please read any book on economics. I can suggest a few if you would like. After that add up the the current defict with the trillions of additional spending Obama wants to implement. The make some sort of logical judgement on how much more you can squeeze out of the top 5% of americans that already pay almost 50% of all income tax.
By the way do some research on what happened when Bush cut taxes. I’ll give you a clue, they set records for revenue and collected much more than they ever forcasted. Again, if you are interested economics and are going to post in threads like this, at least do a little research.
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OK, factually Obama’ plan will borrow less money than McCain’s. That factually makes it closer to balancing the budget, with the added benefit of perhaps actually improving the economy.
and…
And as an economic expert, you of course realize Bush’s tax revenues would have been significantly higher without the reduction in tax revenues(tax cuts). As it is the biggest problem is that his tax revenues don’t pay for the tax cuts “generating” them. That’s a bad thing, and an entirely predicted thing. It’s not worth borrowing money from china that has to be paid back with interest if it isn’t going to stimulate the economy to produce enough revenue. One look at Bush’s revenue and real GDP should enlighten the most foolish of wingnuts including yourself. It is funny that you presented yourself as somewhat knowledgeable on economic matters, but as usual you don’t seem to know what you are talking about.
The point of course is we need more revenue, and obviously taxing less isn’t going to get you there. (see 2000-2008)