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re: Ryan tax plan would cut taxes on rich and RAISE THEM on middle class - WaPo
Posted on 3/28/17 at 9:56 am to redfishfan
Posted on 3/28/17 at 9:56 am to redfishfan
quote:The deficit between revenue and expenses is too high to address by singularly raising revenue or reducing spending. Both are required. This is where our two party system would work great if we weren't so polarized. Dems advocate for raising revenue to reasonable required levels while the Reps keep spending in check.
So instead of reducing our expenses our plan should be take more money from people that produce.
Instead, Dems often advocate to increase revenue while not reducing spending and Republicans like the reduce revenue and raise the military budget (one of the largest cost drivers)
Posted on 3/28/17 at 10:01 am to Tigerdev
quote:
Instead, Dems often advocate to increase revenue while not reducing spending and Republicans like the reduce revenue and raise the military budget (one of the largest cost drivers)
It is possible to increase revenue without increasing taxes. Like rolling back awful regulations that cost companies millions. They could be hiring more people and building more buildings with that money. That would produce jobs and create more revenue.
Posted on 3/28/17 at 10:29 am to Tigerdev
quote:
The deficit between revenue and expenses is too high to address by singularly raising revenue or reducing spending. Both are required.
How do you propose we raise revenues? Just increase the tax rates? Particular at the top? When the top Marginal Tax Rate was around 90% the tax revenue was still about the same as it is today as a percentage of GDP. Just raising the tax rates doesn't necessarily mean you are going to get the increased revenue you are expecting. As rates have fluctuated wildly the revenues collected have remained relatively flat.
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