Mc Lovin is a Kool-aid drinker that won't hear the truth.
Bush has saddled the country with a 10 Trillion Dollar deficit that his great great grandchildren will still be paying on !!!
What do you do when you want to screw only the working people of your nation with the largest tax increase in history and hand those trillions of dollars to your wealthy campaign contributors, yet not have anybody realize you've done it? If you're Ronald Reagan, you call in Alan Greenspan.
Through the "golden years of the American middle class" - the 1940s through 1982 - the top income tax rate for the hyper-rich had been between 90 and 70 percent. Ronald Reagan wanted to cut that rate dramatically, to help out his political patrons. He did this with a massive tax cut in the summer of 1981.
The only problem was that when Reagan took his meat axe to our tax code, he produced mind-boggling budget deficits. Voodoo economics didn't work out as planned, and even after borrowing so much money that this year we'll pay over $100 billion just in interest on the money Reagan borrowed to make the economy look good in the 1980s, Reagan couldn't come up with the revenues he needed to run the government.
Coincidentally, the actuaries at the Social Security Administration were beginning to get worried about the Baby Boomer generation, who would begin retiring in big numbers in fifty years or so. They were a "rabbit going through the python" bulge that would require a few trillion more dollars than Social Security could easily collect during the same 20 year or so period of their retirement. We needed, the actuaries said, to tax more heavily those very persons who would eventually retire, so instead of using current workers' money to pay for the Boomer's Social Security payments in 2020, the Boomers themselves would have pre-paid for their own retirement.
Reagan got Daniel Patrick Moynihan and Alan Greenspan together to form a commission on Social Security reform, along with a few other politicians and economists, and they recommend a near-doubling of the Social Security tax on the then-working Boomers. That tax created - for the first time in history - a giant savings account that Social Security could use to pay for the Boomers' retirement.
This was a huge change. Prior to this, Social Security had always paid for today's retirees with income from today's workers (it still is today). The Boomers were the first generation that would pay Social Security taxes both to fund current retirees and save up enough money to pay for their own retirement. And, after the Boomers were all retired and the savings account - called the "Social Security Trust Fund" - was all spent, the rabbit would have finished its journey through the python and Social Security could go back to a "pay as you go" taxing system.
Thus, within the period of a few short years, Reagan dramatically dropped the income tax on America's most wealthy by more than half, and roughly doubled the Social Security tax on people earning $30,000 or less. It was, simultaneously, the largest income tax cut in America's history (almost entirely for the very wealthy), and the most massive tax increase in the history of the nation (which entirely hit working-class people).
But Reagan still had a problem. His tax cuts for the wealthy - even when moderated by subsequent tax increases - weren't generating enough money to invest properly in America's infrastructure, schools, police and fire departments, and military. The country was facing bankruptcy.
No problem, suggested Greenspan. Just borrow the Boomer's savings account - the money in the Social Security Trust Fund - and, because you're borrowing "government money" to fund "government expenditures," you don't have to list it as part of the deficit. Much of the deficit will magically seem to disappear, and nobody will know what you did for another 50 years when the Boomers begin to retire 2015.
Reagan jumped at the opportunity. As did George H. W. Bush. As did Bill Clinton (although Al Gore argued strongly that Social Security funds should not be raided, but, instead, put in a "lock box"). And so did George W. Bush.
The result is that all that money - trillions of dollars - that has been taxed out of working Boomers (the ceiling has risen from the tax being on your first $30,000 of income to the first $90,000 today) has been borrowed and spent. What are left behind are a special form of IOUs - an unique form of Treasury debt instruments similar (but not identical) to those the government issues to borrow money from China today to fund George W. Bush's most recent tax cuts for billionaires (George Junior is still also "borrowing" from the Social Security Trust Fund).
Former Bush Junior Treasury Secretary Paul O'Neill recounts how Dick Cheney famously said, "Reagan proved deficits don't matter." Cheney was either ignorant or being disingenuous - it would be more accurate to say, "Reagan proved that deficits don't matter if you rip off the Social Security Trust Fund to pay for them, and don't report that borrowing from the Boomers as part of the deficit
2007-10-04 03:49:09
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answer #1
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answered by Anonymous
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A lot of Republicans are not happy with the spending.
Its strange that you single out Republicans for not serving in the military when only about 1% of the general population serves at all. (300,000,000 in the country with a military of 1.2 million. About 1% of the population when you consider people that get out.) So realistically, you could only expect about 1% of all congressmembers to serve.
A lot of those Democrats are from the draft military that doesnt have a lot of relevence today.
Regan won the cold war, he did that by busting the USSR's budget. To do that he had to strain ours.
Today Bush II has a war. Wars cost money. Clinton did not really have a war to fund.
Also, Democrats do have values problems, but they usually not held accountable for them. How many times were Democrat KKK members elected and Democrats are supposedly the party of tolerance?
Basically, both parties play politics. Thats their game. Neither is honest. Honesty is not part of thier job. Faking things is.
2007-10-04 10:55:44
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answer #2
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answered by mnbvcxz52773 7
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While the Democrats are hardly the sqeeky clean party of principle (I'm looking at you, Ted "I killed my girlfriend and ran" Kennedy), you make a valid point about the Republicans.
It seems that whenever there is a scandal involving homosexuality, it is not some democrat "Queer lover", it is always some straight-laced ultra-conservative Republican who always has his foot in those "family values" programs which are really more like anti-homosexual propaganda. I guess the people complaining the loudest are the ones with something to hide.
And their economic hypocrisy is so far from their foundations from luminaries like Barry Goldwater that calling them "conservative" is an almost comical mislabeling
And their stance on war is nice and all for the generals looking for medals, but for the soldiers who are facing eternal deployments, possible maiming or death, and broken families, it probably doesn't seem like such a big adventure to them.
2007-10-04 10:47:17
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answer #3
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answered by Anonymous
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The sex scandals are far from a republican issue- plenty of democrats have done as much or worse than the republicans in this realm- the difference is that when a republican does it, republican voters tell them to take a hike.
Massive spending isnt a republican president issue as much as it is a congressional issue. Reagan and Bush 41 had DEMOCRAT congresses who spent like drunken sailors (no offense to drunk sailors) only Bush 43 had a republican congress that lost its way but the democrats are trying to spend just as much on earmarks and such so dont act like a saint.
Also, most military men and women vote republican like it or not
2007-10-04 10:46:32
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answer #4
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answered by Anonymous
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I am definitely not a Republican, but there are many scandals in the Democratic party too. There are also many Dems that have not served. Both parties have their issues.
2007-10-04 10:43:19
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answer #5
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answered by Lisa M 5
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Because you stayed up past your bed time and got confused while doing your 2nd grade homework. Next time go to bed when mommy tells you, and say your prayers.
2007-10-04 18:39:20
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answer #6
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answered by Anonymous
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Because the money spent on war goes right back into the pockets of Republican criminals and "Family Values" is just a term made up so they have something to scare the religious right with.
2007-10-04 10:46:46
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answer #7
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answered by Anonymous
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Do you really believe all this s***. Give me a break and try to ask intelligent questions please. Nobody on either side is pro war and neither side has many saints on them. Peace
2007-10-04 11:00:11
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answer #8
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answered by PARVFAN 7
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You need to get your facts straight. Reagan actually decreased the debt tremendously, Bush did not do much to hurt it, Clinton drove it way higher and lied about it, this Bush actually helped it until the war started taking a toll. So don't just spit what you read on zfacts.com.
2007-10-04 10:44:46
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answer #9
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answered by McLovin 3
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Because laws are for other people, not for them.
2007-10-04 10:50:59
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answer #10
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answered by Anonymous
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