
Rave if you believe Obama wants America to go over the fiscal cliff and taxes to be raised on everyone
Deputy Chief
2012/11/27 21:58:44
Top Opinion
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RTHTGakaRoland 2012/11/27 22:03:01Obama's agenda is NOT helping our economy






















Not only does he want you to be down, he wants to kick you when you're down by imposing an ( impossible for most people to afford ) mandatory health plan. Does this sound like a fiscally intelligent man to you ? Obama has no clue about what makes this country tick, but boy he has no problem buying his group of welfare followers. I hate to see what America will be like after this crowd gets done moving 'Forward' ... right over the cliff.
With reelection, President Obama is holding most of the cards in this game. If the American people wanted taxes cut for the rich, Romney would have been elected.
The primary reason why our national debt is so high today is because of the tax cuts passed by Reagan and GW Bush. When Reagan took office, our national debt was only $930 billion. By the time GW Bush took office, our national debt was at $5.7 trillion, and by the time Obama took office that debt had grown to $10.6 trillion. When Reagan took office, the top tax bracket in this country was at 60%, and he lowered it to 28% in seven years. Clinton raised the top tax bracket to 40%, and the national debt only grew by $1.6 trillion in his eight years, and our debt was actually decreasing in parts of 1999 and 2000 because we had a budget surplus for those two years. From 9-30-1999 to 9-30-2000 our national debt only increased by $18 billion, and if Bush didn't cut taxes, our debt would have grown by about 33% in eight years, or by $1.8 trillion, so that when Obama took office our national debt would have been around $7.5 trillion.
"The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without appointment among the several States, and without regard to any census or enumeration."
Government representatives are ELECTED in our country, and it's up to them how our tax dollars are spent. Geopolitical considerations requires foreign aid.
I'll repeat myself one time only. Our ELECTED representatives determine how our tax dollars are spent, and the rate that those taxes are.
Just think if you were a millionaire in the fifties. The top federal income tax bracket from 1951 through 1964 was at 91%. That means you would get to keep $9 out of every $100 you made, and you're complaining about the tax rates or how they're spent today?
In 2000, revenues as a percent of GDP was at 36.93%, but after Bush tax cuts in 2003 they fell to 31.03%, at least 2% lower than at any year during Clinton.
http://www.usgovernmentrevenu...
http://articles.businessinsid...
What this country needs is to get revenues back to 2000 levels at 36% to 37%. In 2010 we were at 32.47%. Plus, spending has to decrease on everything, from the defense budget to Medicare. Tax increases and spending cuts are the only way to address the deficit.