As is typical, there are a lot of words there, but no substance. Show me some numbers.songsmith wrote:Wellllll... we could always increase revenue by calling capital gains "income" and taxing them at normal income tax rates. We could increase revenues by returning to Reagan-era income-tax rates (Reagan was the best president ever, according to a Rockpage thread). We could increase revenues by eliminating tax breaks for favored industy and business concerns. We could criminalize lobbying by those concerns, and save the end-consumer lots of money, which would result in the middle-class buying goods again, increasing revenues overall. We could tax offshore profits at a much higher rate, keeping jobs in America, resulting in much higher revenue. We could tie a tariff rate to the rate that China props up it's currency, which would discourage exchange-rate profiteering, and bring JOBS back here, resulting in substantially higher revenue. If corporations are "people," we could tax them like people, by taxing their gross income at personal income rates, instead of what they CLAIM as profit, after the giant perks and bonuses... increasing revenue. We could do ALL these things, and more, and it wouldn't burden the working-class one bit, in fact, it would return the American worker to the status he enjoyed in the post-WWII era.
No, on second thought, let's bring the US workingman's wages down to pre-Depression-era levels, and compete with Third-World labor from their perspective. That way, we can have robber-barons and company stores again. Let's deregulate child-labor laws, break all the unions, and return to the "good old days" of wage-slavery and 7-day work-weeks. Then tax the workers more, not the "job-creators."
The right NEEDS that apocalyptic debt. Without it, they would have no platform for election. Why do you think you hear more about the debt than about JOBS from the right? Why do think they follow the insane assumption that making rich people richer will make us all richer, even when it's never happened before, and even as the rest of us shoulder the burden alone. Without the doom and gloom from the rightwingers, we'd all be doing the right thing: putting our economy back on track, not further enriching the elite class.
I have looked at nearly all those means of revenue and it doesn't amount to much when compared to the deficit. It has been shown that if you raise capital gains tax too high, it will actually result in a drop in revenues.
When asked whether he would support a raise in capital gains taxes even if it resulted in fewer revenues, IdiotObama replied "yes." Brilliant.
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