Debt Limit Deal: Almost 100% of the burden will be borne—via spending cuts—by the poor and the middle-class.

[Mr. Big Dog 10,747]

Does anyone think that just taking away the Bush tax cut on any making over 250 thousand will solve our problems?

Of course not. But it would help a good deal towards deficit reduction.

[Mr. Big Dog 10,747]

if they did nothing, we'd have a default...

Yes, and and if they don't pass authorizations and appropriations, we don't have a military - and no pesky military contractors . What I mean by "nothing" is just leave the federal government on autopilot - don't change anything. No more AMT fixes, no more doc fixes, no more extending tax cuts, no new loopholes, no extending loopholes, etc. Just leave all this stuff as is and we'd be deficit free in less than a decade.

Edited August 2, 2011 by Mr. Big Dog

[luckytxn 2,265]

Does anyone think that taking away the Bush tax cuts for all will fix the deficits?

[one...two...tree 2,762]

Does anyone think that taking away the Bush tax cuts for all will fix the deficits?

That and get our troops out of Iraq and Afghanistan and in less than a decade, we'd start seeing a surplus like we did under Clinton, you know, before Bush drove the economy into the ditch.

[Mr. Big Dog 10,747]

Does anyone think that taking away the Bush tax cuts for all will fix the deficits?

I think that would be a responsible path to pursue. It's just not gonna happen. Nobody is going to raise tax rates. On anyone. At best, there will be some agreements on tax spending - where revenues get raised while tax rates remain what they are. They might even pull a trick out of the hat and lower rates while raising revenues by eliminating tax spending. That might not be the worst outcome.

[luckytxn 2,265]

So pretty much the beotching is useless about the Bush tax cuts and that what I have been saying all along about cutting spending is all we have left is the right course. Thanks.

[I AM NOT THAT GUY 5,715]

Ron Paul: These purported budget cuts are not real budget cuts

True. Next year, this package only cuts $21 billion. Three-fourths of the cuts happen after 2016. I wonder who picked that date?

[웃 910]

So pretty much the beotching is useless about the Bush tax cuts and that what I have been saying all along about cutting spending is all we have left is the right course. Thanks.

I don't see what's so big about raising taxes a few tenths of a percentage (well, 3 full percent)....That is not a big increase...I'd like to see 50% rates!

[luckytxn 2,265]

I don't see what's so big about raising taxes a few tenths of a percentage (well, 3 full percent)....That is not a big increase...I'd like to see 50% rates!

We know what that Socialists want huge tax increases and redistribution of wealth. That is why there is a fight going on to block any tax increases because it is taking us down the road of no return.

[luckytxn 2,265]

True. Next year, this package only cuts $21 billion. Three-fourths of the cuts happen after 2016. I wonder who picked that date?

Yes and this year only 7 billion of cuts. They do get their huge deficit spending though this year and just in time for the election spending season upcoming. The ones that voted should start to see their coffers filling up soon.

We know they picked a date that seemed far off so that inflation would seem to eat into worth of the dollars that will be used at that time. Inflation is the hidden tax and the one that hurts the middle class the most of all.

[웃 910]

We know what that Socialists want huge tax increases and redistribution of wealth. That is why there is a fight going on to block any tax increases because it is taking us down the road of no return.

The Bush Tax Cuts + the Wars he got us in will have added $10 trillion to our national debt by 2019....These 2 items will account for about 50% of our national debt.

It should be clear who the spenders are and why we are in this mess by then....

See the budget and the national debt when Clinton left office....Look at the CBO projections of where Bush SHOULD HAVE left us in 2008 ($5.6 trillion total surplus....when he first took office each year the CBO projected hundreds of billions in surplus and each year the surpluses were supposed to get LARGER).

Edited August 2, 2011 by Lord Infamous

[luckytxn 2,265]

The Bush Tax Cuts + the Wars he got us in will have added $10 trillion to our national debt by 2019....These 2 items will account for about 50% of our national debt.

It should be clear who the spenders are and why we are in this mess by then....

See the budget and the national debt when Clinton left office....Look at the CBO projections of where Bush SHOULD HAVE left us in 2008 ($5.6 trillion total surplus....when he first took office each year the CBO projected hundreds of billions in surplus and each year the surpluses were supposed to get LARGER).

And Clinton done good and I have praised him many times here but how did he do this? After the Cold war when Bush Sr. was still in office he started the peace dividend that meant we started to slash the military in half down to 18 divisions. 18 divisions was deemed the minimum we needed to honor our treaties and protect us. The process was well underway when Clinton came into office.

Clinton decided that he wanted more cuts and deemed 10 divisions were enough. It was brutal but it did give us a surplus that he used. I applaud him for getting us a deficit but it did leave us possibly exposed dangerously.

We can slash the military now but to do so when we have troops in over a hundred countries and fighting two wars and a secret war in Libya is folly. We need to bring all troops home now. Blame Bush all you want but it was congress that gave him the blank check. They are even more guilty for this.

The crime is that the politicians know we have a certain amount of income coming in but insist that we spend more than that. There is no need to increase our government spending at this time. Let us get the house in order and then lets talk. As it stands now we are going to crush the middle class that no amount of Fed spending can cure.

[Obama 2012 1,714]

The Bush Tax Cuts + the Wars he got us in will have added $10 trillion to our national debt by 2019....These 2 items will account for about 50% of our national debt.

It should be clear who the spenders are and why we are in this mess by then....

See the budget and the national debt when Clinton left office....Look at the CBO projections of where Bush SHOULD HAVE left us in 2008 ($5.6 trillion total surplus....when he first took office each year the CBO projected hundreds of billions in surplus and each year the surpluses were supposed to get LARGER).

It's like some alien being has taken you over and made you obsessed with something that should not be obsessed about. Especially when your argument holds no merit in the grand scheme of things.

The ONLY factor in government that matters is SPENDING in relation to revenue. Again, we took in more physical dollars than EVER in 2007 ( of course you'd say this is impossible with the Bush Tax cuts in effect ) yet our budget deficit was still high. What does that tell you? It's the SPENDING. SPENDING. SPENDING.

[The_Dude 1,142]

loss of jobs. loss of business. markets crashing, etc.

It's not a new concept.

You really should go back and take economics and accounting 101.

So have you enrolled yourself? You might want to sign up for English 101, I think that is where they teach irony.

[Ban Hammer 13,491]

Yes, and and if they don't pass authorizations and appropriations, we don't have a military - and no pesky military contractors . What I mean by "nothing" is just leave the federal government on autopilot - don't change anything. No more AMT fixes, no more doc fixes, no more extending tax cuts, no new loopholes, no extending loopholes, etc. Just leave all this stuff as is and we'd be deficit free in less than a decade.

and florida wouldn't be sucking up more tax money than they put in link