I don’t disagree with the idea of taxing the wealthy more as they receive an outsized benefit by those services provided……..but,
US debt has grown by 50% since 2019. We not gonna blame ridiculous spending over Covid and the subsequent inflation controlling interest rates at all?
Where do I sign up?
Have the democrats ever ended tax breaks?
Garbage economic propaganda.
Notably missing causes of debt that were caused by the DC uniparty: decades of endless overseas wars, military industrial complex pork, entitlement bloat from decades of open borders, corporate “too big to fail” bailouts.
Yes it has nothing to do with exorbitant spending. Democrats wonder why so much of the country finds them delusional.
I refer you to Article I, Section 7 of the constitution. All spending laws and all tax laws are made by Congress. A president can propose legislation but the Constitution states quite clearly that the House of Representatives has that duty first. Pesident Kennedy, Democrat, explained quite clearly in the 1960s that he wanted to lower the tax rate in order to increase tax revenue. Congress went along with that in law. It worked then, it worked before him, it worked after him. Look it up yourself, there are loads of examples of how lower tax rates result in higher tax revenue over many centuries. The problem is not and never will be on the taxing side, it will always be on the spending side. No matter how much tax revenue received, there is no amount that Congress cannot spend. Take every penny from whatever group you consider wealthy and it will solve nothing. Have you not noticed human behavior with the simple example of credit card debt? $5k in credit card debt month after month, and someone thinks if only they earned more that would stop. So they earn more and what happens? They spend more. The nice thing about being elected is you can promise handouts today to get elected and the consequences of that spending will not be felt until you are long gone. People behave based on incentives and disincentives. What exactly are the consequences of Congressmen deciding to spend ever more.
We’re missing some massive debt increase between #2 and #3.
Somebody please explain to me how tax cuts could prevent further increase in national debt. And please don’t say increased tax revenue leads to less debt because the maths don’t add up. Our debt is in trillions. Even if you put all billionaires’ assets together are only $5T. So even if we tax the rich 100%, it will won’t cover the $33T debt
And I’m still waiting for the legislation to repeal them but oh well.
9 comments
I don’t disagree with the idea of taxing the wealthy more as they receive an outsized benefit by those services provided……..but,
US debt has grown by 50% since 2019. We not gonna blame ridiculous spending over Covid and the subsequent inflation controlling interest rates at all?
Where do I sign up?
Have the democrats ever ended tax breaks?
Garbage economic propaganda.
Notably missing causes of debt that were caused by the DC uniparty: decades of endless overseas wars, military industrial complex pork, entitlement bloat from decades of open borders, corporate “too big to fail” bailouts.
Yes it has nothing to do with exorbitant spending. Democrats wonder why so much of the country finds them delusional.
I refer you to Article I, Section 7 of the constitution. All spending laws and all tax laws are made by Congress. A president can propose legislation but the Constitution states quite clearly that the House of Representatives has that duty first. Pesident Kennedy, Democrat, explained quite clearly in the 1960s that he wanted to lower the tax rate in order to increase tax revenue. Congress went along with that in law. It worked then, it worked before him, it worked after him. Look it up yourself, there are loads of examples of how lower tax rates result in higher tax revenue over many centuries. The problem is not and never will be on the taxing side, it will always be on the spending side. No matter how much tax revenue received, there is no amount that Congress cannot spend. Take every penny from whatever group you consider wealthy and it will solve nothing. Have you not noticed human behavior with the simple example of credit card debt? $5k in credit card debt month after month, and someone thinks if only they earned more that would stop. So they earn more and what happens? They spend more. The nice thing about being elected is you can promise handouts today to get elected and the consequences of that spending will not be felt until you are long gone. People behave based on incentives and disincentives. What exactly are the consequences of Congressmen deciding to spend ever more.
We’re missing some massive debt increase between #2 and #3.
Somebody please explain to me how tax cuts could prevent further increase in national debt. And please don’t say increased tax revenue leads to less debt because the maths don’t add up. Our debt is in trillions. Even if you put all billionaires’ assets together are only $5T. So even if we tax the rich 100%, it will won’t cover the $33T debt
And I’m still waiting for the legislation to repeal them but oh well.