Quote:
Originally Posted by Robbie
Wasn't referring to lowering income tax. I was talking quite specifically about corporate tax. It hinders business.
And yes, income taxes should be lowered too. The govt. is spending too much money.
And once the revenue base is expanded and the more than 30% of the workforce that isn't even trying to get a job anymore is returned to work with companies coming back...the revenue will increase to the Federal Govt.
It has done so EVERY time that taxes have been lowered.
Of course it didn't work with Bush spending it faster than it could come in.
And that is the problem.
The Bureaucrats in D.C. never use the extra revenue to pay down the debt. Instead they line their cronies pockets with new "programs" that increase spending.
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US debt is 100% of GDP. To halve it in 10 years needs a 5% cut in spending. Go find that money without increasing unemployment. Every lost job lower tax revenue.
Cutting taxes in the hope every gets back to work, is gambling. And once enough is made in the US to get 30% back to work. Prices will rise and consumerism will falter.
Agreed about governments being bought and paid for.