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pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
 ·Comcast
1 edit | reply to Titus Pullo
Re: Wow
said by Titus Pullo  :Whew. Can you explain to me how the government "collects more money with lower tax rates" -- What are their other sources of revenue? Go look at the amount of money the government collected in taxes from 1981 to today. You can even look at what happened when JFK pushed for lower taxes in the early 1960s. Look at all the years in which there were tax cuts and see how it impacted revenue. The principle that lower taxes brings in more revenue to the government is an irrefutable fact.
Now, even with enhanced revenues, whether by Reaganomics or some other means, it does not change the fact that no government can spend more money than it has. Had the Republican party not expanded entitlements, farm subsidies and education spending from 2001 to 2006, we could have enjoyed balanced budgets during that time.
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Only SHATNER is Kirk. | |
Titus Pullo
I came, I saw, I slept
join:2004-06-26
 ·Embarq
| That's only part of the picture; there's this little budget item called "Iraq."
Education spending and Entitlements? You mean No child left behind and enriching drug companies? Please  don't insult us all! It would appear to me that the current admin is taking Ronnie Raygun's nonsense to new heights:
From the White House: The Reagan-Bush Debt Explained
"The traditional pattern of running large deficits only in times of war or economic downturns was broken during much of the 1980s. In 1982 [Reagan's first budget year], partly in response to a recession, large tax cuts were enacted. However, these were accompanied by substantial increases in defense spending. Although reductions were made to nondefense spending, they were not sufficient to offset the impact on the deficit. As a result, deficits averaging $206 billion were incurred between 1983 and 1992.These unprecedented peacetime deficits increased debt held by the public from $789 billion in 1981 to $3.0 trillion (48.1% of GDP) in 1992." (emphasis added)
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"I am not young enough to know everything."
Oscar Wilde | |
pnh102
Reptiles Are Cuddly And Pretty
Premium
join:2002-05-02
Mount Airy, MD
·Comcast
| said by Titus Pullo :That's only part of the picture; there's this little budget item called "Iraq." The war spending is a small part of the budget. The Federal government spends about $2.5 trillion a year. So far, the entire Iraq war has cost $300 billion since 2003. Out of almost $7.5 trillion dollars, $300 billion is not a lot of money.
said by Titus Pullo :Education spending and Entitlements? You mean No child left behind and enriching drug companies? Please don't insult us all! How is it an insult to state the fact that this country is spending more on entitlements than at any other time in history.
said by Titus Pullo : It would appear to me that the current admin is taking Ronnie Raygun's nonsense to new heights: And again, you are not separating spending from taxation. Reagan's model of lowering taxes to increase revenues worked in the 1980s, and it works now. This undisputed, irrefutable fact does not in anyway absolve the Reagan administration and the then Democratic Congress, as well as the Bush administration and the then Republican Congress, from keeping spending under control.
Clinton was able to achieve a balanced budget in part due to a Republican congress. I am hoping that the same gridlock created in that relationship can also happen in this Congress, since Republicans, when left to their own devices, cannot keep spending under control.
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Only SHATNER is Kirk. | |
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