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Originally Posted by Brujah
A lot of wealthy sucking up in here, which makes for a nice distraction I suppose, but doesn't address the issue of paying the debt.
The debt already exists, so how would you get rid of it? Don't say cut spending, that doesn't address the existing debt but manages future debt. Everyone seems to be the political expert, on a daily basis, so do you have any solutions to it? How do you pay for expensive wars? The money has to come from somewhere.
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You get rid of it by tight fiscal responsibility first, cutting spending, waste and so on. You act like these aren't factors when they are THE factors. You have to stop the bleeding before you can heal the wound. Thats obvious common sense. You can't tax people and an economy into success. You can't tax people into job creation.
There is a relationship between tax rates and economic growth and investment. Denying that is purely idiocy. The question is "where is that magic line that can do the least amount of damage to economic growth while increasing tax revenues". There are also strong arguments for reducing taxes as a means to stimulate growth. Simplistic examples like the laffer curve make the simple point that when taxes are zero, government gets zero. When taxes are 100%, the government gets 0% (i.e. no business can operate). You can't just create taxes because you need money without consequences.
There was also a study recently by a university that showed that raising taxes almost without exception, never reduced any government deficits. The direct result each and every time is that government increases spending and very little revenue goes to deficits.
The single largest problem is that government is extremely inefficient with finances, never responsible and runs around spending money like a drunk 19 year old sailor in a bangkok whorehouse. And when it runs out of money, it just takes more from tax payers, rather than examining and modifying its spending habits. This is a government problem. Its not a democrat problem, a republican problem or a Bush or Obama problem. its a global issue for all governments every where.