2007-08-14 14:34:48 · 18 answers · asked by arvis3 4 in Politics & Government ➔ Politics
Too many have drunk the Kool-Aid of "trickle down economics." The truth is, if we cut taxes for the wealthy, it doesn't improve things for everybody, and tax revenues don't go up after tax cuts for everybody either. That's like claiming you'll make up in volume money that you lose by selling individual units at a loss. Cutting taxes and going to war is an act of lunacy, and we can't even give Bush the benefit of saying that he didn't know he was going to go to war with Iraq, as there is ample evidence otherwise. The immense amount of money that America owes China (over 1 trillion US$ in debt) is a consequence of the Bush tax cuts.
2007-08-14 14:45:42 · answer #1 · answered by Anonymous · 2⤊ 1⤋
Considering Republicans have controlled the WH and congress for most of the past 8 years I don't think they are claiming tax revenue is sky rocketing.
Military spending has sky rocketed...
2007-08-14 21:41:13 · answer #2 · answered by Frank S 3 · 1⤊ 0⤋
Revenue is only half the equation. Expenditure has to be considered too. Just like your household budget - you may get a salary increase but if your expenditure is more than your new income you will still have to borrow.
Cut expenditure? Where? Pull out of Iraq? Jobs lost in armed forces and in armament industries - expenditure increases in welfare.
2007-08-14 21:40:08 · answer #3 · answered by jemhasb 7 · 0⤊ 0⤋
That's why the federal reserve had to add liquidity to the banks. Credit is just short of a natural disaster in this country. I heard that banks are denying everyone credit and finding any reason to say no because the debt ratio is HUGE. I haven't gone for a loan so I don't know for certain.
2007-08-14 21:42:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Because spending keeps going up. Besides the war---social programs continue to grow yearly. In fact, if a program is made to hold to the same budget as the previous year, politicians call this a "spending cut". If you think that this is a "republican" problem, you are sorely mistaken. Pork abounds on both sides of the aisle.
2007-08-14 21:40:45 · answer #5 · answered by Anonymous · 2⤊ 1⤋
Because we have an administration that passes multiple tax cuts while it spends 200 million dollars a day on a useless war, that's why. Hell, our government cares more about funding Iraqi bridges than American ones!
2007-08-14 21:51:47 · answer #6 · answered by Anonymous · 2⤊ 0⤋
welfare schemes from the pelosi/reid regime go right along with it
36000 carded no debated unrelated spending requests to the defense bill
21million for...no im not making this up..peanut storage.
hillarys attempt to throw millions at educating people to public service for free
the ridiculous attempts to nationalize health insurance.
the point here is there is no free lunch..someone always pays for it and thats where the borrowing comes in.
2007-08-14 21:43:05 · answer #7 · answered by koalatcomics 7 · 1⤊ 1⤋
it's the BS meter that is skyrocketing, they can't stop spending it's just tax payer money( and their children's children's money) it's like free. Come and get.....all their pals from the privatization scam, like Halliburton, etc.
2007-08-14 21:46:14 · answer #8 · answered by Anonymous · 1⤊ 0⤋
because spending has eclipsed any amount of revenue that we are able to collect
from neither a R or D
2007-08-14 21:41:47 · answer #9 · answered by Anonymous · 2⤊ 0⤋
We don't have to borrow money we choose to. Not being bartisan there but it's the truth. We can survive on our income alone but we choose not to, why do Democrats continue to borrow if you think it is partisan?
2007-08-14 21:39:32 · answer #10 · answered by eldude 5 · 1⤊ 2⤋