Teabaggers strike again, cause another downgrade - Page 2 - TigerDroppings.com

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udtiger
LSU Fan
Louisiana
Member since Nov 2006
22416 posts

re: Teabaggers strike again, cause another downgrade




Source:

http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

FY 2008 and 2009 were a marked reverse of the budget trends through 2007 (the FY 2007 budget would have been the last budget passed by the GOP controlled Congress). Who was writing/passing budgets for FY 2008 and 2009?

Here's a hint...DA thinks her holding the gavel saved the US' credit rating.



This post was edited on 4/7 at 9:31 pm


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Tiger4
LSU Fan
Member since Jan 2009
8761 posts

re: Teabaggers strike again, cause another downgrade


quote:

That's assuming higher tax rates always = higher revenue which isn't necessarily true.

I read some where that Reagan reduced taxes and increase tax revenue, but I have not seen any proof. But believing an increase in taxes will cannot make a difference, is absurd. I have also heard that the fair tax plan will increase taxes as a whole, would that stop you from supporting it.






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90proofprofessional
LSU Fan
Member since Mar 2004
7942 posts

re: Teabaggers strike again, cause another downgrade


quote:

heard that the fair tax plan will increase taxes as a whole, would that stop you from supporting it

raising more govt revenues despite taxing people at lower rates because everyone's richer? what idiot would oppose that






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Tiger4
LSU Fan
Member since Jan 2009
8761 posts

re: Teabaggers strike again, cause another downgrade


quote:

raising more govt revenues despite taxing people at lower rates because everyone's richer? what idiot would oppose that
This statement does not make any sense.






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90proofprofessional
LSU Fan
Member since Mar 2004
7942 posts

re: Teabaggers strike again, cause another downgrade


that's the theory behind lowering taxes to raise revenue, in lay terms. what were you talking about if not the laffer curve





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Ponchy Tiger
USA Fan
Ponchatoula
Member since Aug 2004
22935 posts

re: Teabaggers strike again, cause another downgrade


Ok dude how about this deal.

We will agree to any tax raises you want but in return the budget must be balanced immediately. No more deficit spending under any situation. How about it, you game for that?






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CC
LSU Fan
Member since Feb 2004
13604 posts

re: Teabaggers strike again, cause another downgrade


quote:

Ok dude how about this deal. We will agree to any tax raises you want but in return the budget must be balanced immediately. No more deficit spending under any situation. How about it, you game for that?
Balanced according to whom? The CBO has consistently effed up the numbers so who are you going to trust?






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Ponchy Tiger
USA Fan
Ponchatoula
Member since Aug 2004
22935 posts

re: Teabaggers strike again, cause another downgrade


quote:

Balanced according to whom? The CBO has consistently effed up the numbers so who are you going to trust?


This true, I remember Clinton claiming to have balanced the budget and we all know it was just smoke and mirrors.






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Tim
LSU Fan
Texas
Member since Jan 2005
5999 posts

re: Teabaggers strike again, cause another downgrade


I really am going to laugh my arse off when this debacle crashes and burns due to all the deficit spending from the gov't...it's going to even be funnier with some of these geniuses on this board in the street begging for food...to think it was good with Pelosi having the gavel is such comedy...they all play the game, they take care of themselves and protect their turf...both sides of the aisle are doing nothing about the real deficit, it's a joke!!





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DA
LSU Fan
Member since Sep 2007
16251 posts

re: Teabaggers strike again, cause another downgrade


quote:

I really am going to laugh my arse off when this debacle crashes and burns due to all the deficit spending from the gov't...it's going to even be funnier with some of these geniuses on this board in the street begging for food...to think it was good with Pelosi having the gavel is such comedy...they all play the game, they take care of themselves and protect their turf...both sides of the aisle are doing nothing about the real deficit, it's a joke!!


I agree with you. It may still crash and burn, but it's clear one side wants it to happen, and the other side doesn't. I'm pulling for the latter group.

Who do the GOP and the wealthy individuals and corporations think will win in a race to the bottom? They have much much more to lose if it all cracks. They'll be in the same tent cities as the 99%.

And yet all they clamor for is lower taxes and a blind eye. They are already getting all the benefits, even in a slow economy. Senseless in my view.

Pay the damn bills, then we can discuss tax reductions.









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kingbob
LSU Fan
St. Amant, LA
Member since Nov 2010
13947 posts

re: Teabaggers strike again, cause another downgrade


quote:

I'm pulling for the latter group.


The numbers seem to suggest that your side is the former in your example.






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DA
LSU Fan
Member since Sep 2007
16251 posts

re: Teabaggers strike again, cause another downgrade


Will you agree that we need serious cuts and increased taxes to address the debt?





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Bestbank Tiger
Tulane Fan
Landmass
Member since Jan 2005
18453 posts

re: Teabaggers strike again, cause another downgrade


quote:


All you have proved is that taxing the top 1% at a 100% tax rate will not balance the budget.

You have not proved that an increase in taxes cannot reduce the deficit. Maybe you mean a reduction in spending is more feasible. I agree.


What that means is if you don't cut spending you have to raise taxes on the middle class.

What do you think making middle class paychecks smaller will do to the economy?






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kingbob
LSU Fan
St. Amant, LA
Member since Nov 2010
13947 posts

re: Teabaggers strike again, cause another downgrade


quote:

Will you agree that we need serious cuts and increased taxes to address the debt?


I will agree that massive cuts are needed. I believe that simplifying the tax code with a flat income tax rate for everyone regardless of income would be best (somewhere between 15-20%). No deductions (save charitable donation) would be allowed. I think these simplifications of the tax code, paired with chopping up entire departments and merging of redundant bureaus and agencies, and entitlement reform would be what it would take.






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kingbob
LSU Fan
St. Amant, LA
Member since Nov 2010
13947 posts

re: Teabaggers strike again, cause another downgrade


Does David Copperfield post on TD, because I think he just made DA disappear.





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MFn GIMP
LSU Fan
Owensboro, Kentucky
Member since Feb 2011
8301 posts

re: Teabaggers strike again, cause another downgrade


quote:

I read some where that Reagan reduced taxes and increase tax revenue, but I have not seen any proof. But believing an increase in taxes will cannot make a difference, is absurd. I have also heard that the fair tax plan will increase taxes as a whole, would that stop you from supporting it.


I don't oppose higher taxes, in fact we probably do need to increase revenue through eliminating deductions/credits and making sure everyone pays something. But only after we cut spending massively. I was simply stating that higher rates don't always equal higher revenue, especially if we are still on the right side of the Laffer curve.



This post was edited on 4/7 at 10:37 pm


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NC_Tigah
LSU Fan
Member since Sep 2003
48264 posts

re: Teabaggers strike again, cause another downgrade


quote:

All we have to do is go back to the Clinton tax rates for people making over $250K and the budget would be balanced.
I know you're being sarcastic, but it baffles me that in light of "the 1%" here paying more taxes by both amount and percentage than our Euro Socialist counterparts like the Brits, someone would not call out the left's penis-envy class-warfare rhetoric for what it is.

Afterall, what's the deal with Clinton rates as applicable only to >$250K?
Why not, "all we have to do is go back to the Clinton tax rates" . . . period.
If we want to return to Clinton, why leave 75% of his tax increases in the cupboard?


Bothers me in terms of rational tone and logic.








This post was edited on 4/8 at 5:52 am


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WhoGeaux
New Orleans Saints Fan
Member since Apr 2011
432 posts

re: Teabaggers strike again, cause another downgrade


Foxnews article

Another article on the downgrade. Apparently this agency dropped the ratings just before the big boys last go around.






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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
21165 posts

re: Teabaggers strike again, cause another downgrade


quote:

All we have to do is go back to the Clinton spending rates and the budget would be balanced.
Fixed!






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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
21165 posts

re: Teabaggers strike again, cause another downgrade


quote:

Not completely true, an increase in taxes will reduce the deficit.
Not enough to make any significant difference. Even if you all AGI >$1,000,000.






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