ExiledInIllinois Posted June 18, 2005 Share Posted June 18, 2005 Things would be fine... I might come aound to the thinking yet, we have a big bill staring at us. It is only a matter of time before the "shell game" gets exposed. Now if I can just figure out how to work less hours, do what I am doing, spend more and bring in more money. ?? Link to comment Share on other sites More sharing options...
John Adams Posted June 18, 2005 Share Posted June 18, 2005 Yes, I am happy that the economy is doing so well. It is doing so well in large part because of the tax cuts. The booming economy causes people to make more money and therefore pay more (nominally) in taxes, even at a reduced rate. There is no way to spin that into being a bad thing. I would rather make 1,000,000 per year and pay 300k in taxes than 30k a year and 9k in taxes, even though with the 1M$ salary I pay 291k more in taxes. I know that is an extreme case, but you get my point (i hope). So...despite the fact that the tax rate is greatly reduced. Despite the fact that the economy is improving, and people are making more money, you still insist that people are taxed more than ever. What would you recommend we do then? Cut taxes and increase revenue again? The bottom line is that somewhere there is a tax rate that maximizes revenues. We cut taxes and revenue went up. Lets cut taxes some more! 361531[/snapback] I've just got this crazy obsession with cutting spending, and am not so excited that the government has MORE to spend. Link to comment Share on other sites More sharing options...
JimBob2232 Posted June 18, 2005 Author Share Posted June 18, 2005 I've just got this crazy obsession with cutting spending, and am not so excited that the government has MORE to spend. 361561[/snapback] Oh. Dont get me wrong. I am very displeased with the spending of this administration (and ones before it). We spend WAY more than we should. Government is too big and too powerful. As reagan said, government is not the solution, government is the problem. But at some point cutting taxes will lower revenue. The fact that we cut taxes and raised revenue means that we are still drastically over taxed, and need to lowere the tax rate further to find that inflection point. Once the inflection point is found we can continue lowering taxes (and thus revenue) until we reach a comfortable point of government spending. Link to comment Share on other sites More sharing options...
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