What reason is there to undo the tax cuts?

Question

GDP has grown, unemployment is very low, jobs are being created and wages are on the rise. Federal tax revenue has grown dramatically - more than expected and faster than the CBO projected either with or without the tax cuts. So, even if you still think "only the rich benefited," that benefit didn't come at anyone's expense.

What reason is there other than the desire to "stick it to the rich" - not to help anyone else but simply for envy's sake?

Answer 1

pay for that damn war

Answer 2

First off, low jobless rate is great if the jobs that people have earn real money.
However, "the difference between the rich and the poor is getting bigger"
is working on both ends: Prices rise (albeit slowly, except for fuel) and real
wages haven't, or certainly haven't kept up with the minute inflation we've had
for almost a decade.

The largest growth sector in our economy is service jobs and low-wage
retail (e.g. Walmart), causing people to have fewer benefits which means
that their effective wages are lower.

The old manufacturing jobs of 30 years ago typically had much better
benefits and did not require the high level of education that high-end
jobs of today do.

Interestingly, the American car manufacturers complained that one of
the biggest labor costs they incurred was medical care - a cost that
their overseas competitors do not incur because they have essentially
socialized medicine.

And yes, the changes in Welfare laws have forced people to work for
minimum wage jobs to eat, but they don't have child care, so our children
are left alone more often and suffer the predictable problems in
social adjustment, medical care, and education scores.

So: Most people are able to purchase fewer high-end items. Interestingly,
low-end items (clothes) are getting cheaper as jobs go overseas following
cheap labor. If this was not so, the situation would be proportionately
worse. A large portition of the money the low end of our economy spends
therefore goes overseas.

This means that Americans, on average, are getting poorer. They are
paying more for the services, medical costs, etc. Our world competitors,
however, are not suffering with these issues... Or at least, not to the degree
that we are.

The effect of crippling the government by constantly cutting taxes or
spending all the money in a war that nobody wanted (and then not
adjusting taxes appropriately to cover for it) is that our country suffers
with progressively poorer education and our average citizen is less
competitive in the market place. More jobs going overseas, etc.

Also, more important researching happening elsewhere. We stop being
the dominant researcher, we stop being socially progressive so that our
people become more superstitious and less able to handle the world
as it changes ever more quickly.

In short, in everything other than military, we cease to be a super power.

Now, American business men are extremely agressive and very good
at eeking out a buck where others could not - we've been very good
at increasing our productivitity, which enables us to have a GDP that
generally increases (though it has slowed down dramatically) without
significant labor improvements.

Unfortunately, a country where the citizens are (on average) less and
less educated compared to the rest of the world, with a progressively
hungrier and hungrier population trying to preserve whats "theirs"
gets more and more hateful and paranoid. Their quality of life goes down
hill.

They spend a lot of time being scared of people who they think are out
to get them. There is just enough truth to the concept that others want
to destroy them to be self perpetuating. If I say that more people die
of flue every year then die of anything terrorist related, it falls on deaf
ears: Terror is compelling and self perpetuating.

That's ultimately what its all about. If we start losing in the world-wide
competition, our own quality of life goes down hill.

I guess, from that point of view, taxes are "patriotic". However, its
far easier to wave a flag and fire a gun than to pay into research,
education and keeping poor people alive.

Answer 3

Because the average family will have to pay about $2000 extra in taxes when the tax cuts aren't renewed. That's pocket change for rich Democrats like Kerry, Edwards, Kennedy, (you get the drift). So what's the problem there? The middle class will be clamoring for government assistance and the Democrats will be there to "save" you! Besides, the jobless rate is too low, let's get it back up to a more respectable rate for a socialist country.

Answer 4

well... first off... it's beyond naive to think that tax cuts or increases are alone responsible for the state of the economy... if economics were that simple, we'd all have our doctorates and just cut taxes all day long and have a "super-duper" economy!

the war alone has pumped BILLIONS into the economy that's been turned over again and again...

and revenue always increases as the population increases... especially after you factor in the war spending...

I think most don't want to "stick it to the rich"... they only want the rich to pay their share... most people don't pity someone that may not be able to buy that third yacht because their taxes went up 3 percent...

Answer 5

We are trillions of dollars in debt because of a war that does not serve our interests. Millions do not have health insurance. Jobs are going overseas. The cost of living is greater, but the minimum wage has not increased. Only the very Rich have benefited, and yes, at the expense of the rest of us.

Answer 6

What GDP growth? Economic growth under Bush is the worst it has been since Hoover in 1930. The stock market is no where near its record high after inflation is added in. The federal deficit has sored with no end in sight. Total federal debt is 4 times what it was 6 years ago. Energy prices are 55% higher after inflation than 6 years ago. Inflation is at its highest rate since the 1970's under Ford and Carter. You call that good?

And for the record I pay at a higher rate than I did 6 years ago because some work expenses are no longer deductible. Bush cut tax rates but raised taxes on anyone earning under $75,000/year by ending deductions.

Bush is an idiot and a fraud. He also has ignored our rights and freedoms in his seizing of power from a complacent Republican congress.

Answer 7

The national debt has continued to rise, a need to stop the rise in debt and reduce the debt if possible. You are going to pay and handing it down and down again is just prolonging the pain of paying the debt.

Answer 8

it is anti-intuitive but lowering taxes not only gives people more money but the government also. democrats are willing to use the robin hood argument to buy votes from simpler voters. this is why they encourage the more ignorant to vote. these "get the man" arguements always play to the un(or wrongly)educated.

Answer 9

To balance the budget and reduce the imense deficit.

Answer 10

yup george bush just wants more money to keep fighting a flippin war

Answer 11

WOW ALANA---AMAZING ANSWER!!! I would write more, but she said everything that I wanted to say. Beautifully written, and so true!