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Why do liberals think the answer to the economic problems in this country are to raise taxes?
Think about it, if you raise taxes, especially on the job producers, it hinders their ability to hire more workers, and to give their current employees raises. In fact when you raise their taxes, many times in order to cut costs they have to lay people off.
Take for example of what Reagan did in the 80's when he cut taxes, the tax rate was cut, but the tax revenue went up. The reason that tax revenues went up in the 80's was because more people were paying into the system. People were making more money moving them UP into a higher tax bracket, and because there were more people paying into the system, revenues went up.
SO, having said that, wouldn't cutting taxes be the answer to stimulate a down economy?
Also in addition to cutting taxes, cut the wasteful spending and start eliminating these social programs that are costing us trillions of dollars. Give people incentives to work instead of sitting on their butts expecting a hand out. Let's reward hard work, not punish it.
BTW, Ford Perfect. I DO pay my taxes, I am a hard working truck driver who works his tail off to provide for my family, and how much money I make in a year is none of your business or anyone elses. What I have a problem with is our president who wants to punish those who are being successful. Cut taxes and cut the wasteful Govt. spending.
Hey Rex, if that's so then WHY is the unemployment rate in this country so high? We have a president who's demonizing private business. I know quite a few small business owners around where I live where they are looking at going out of business because they can't afford to stay in business, and Obama Care passing is a big part of it. I just recently switched jobs, and was working in construction where the unemployment rate in the construction industry nationwide is almost %30. If you want to stimulate an economy, put more money BACK into the hands of the consumer. BTW with Obama care having been passed, to pay for it, we will ALL be paying higher taxes and I'm sure a VAT tax before long as well.
11 Answers
- ?Lv 61 decade agoFavorite Answer
They don't. They are socialists and Marxists who believe in big government. They don't believe a thriving free market economy is good. Let's face it. Barack Obama has resentment for the successful and powerful. That applies to individuals, businesses and nations. His presidency is all about bringing then down, and redistributing their wealth to those he believes deserve it.
- 1 decade ago
That question is so absurdly ignorant it is comical. An all too typical false claim by a weak, desperate Republican.
The following are indisputable facts:
1. Not one single American paid a higher tax rate this year than last.
2. The average tax return is larger this year than last.
3. Many Americans, 200 million approx., actually paid lower taxes this year.
Anyone who denies these 3 bare facts is delusional and not capable of coherent thought. Therefore engaging in reasonable conversation would be a waste of time... Which I'm afraid this answer will prove to be: A waste of my time ;)
PS. Please don't fall back on the predictable, "Our grandkids will have to pay..." because you cannot tell the future. Furthermore, taking a measured, systemic, long-term approach to fixing the economy, such as the Democratic President is doing, will yield to more economic growth and hence more revenues. When people make more money after Obama fixes Bush's mess they will pay more in taxes... Not a higher tax percentage rate, but a higher sum total overall.
- ahandle101Lv 71 decade ago
Because even if you give a company, say $185 billion, there is no guarantee that AIG won't just spend it all on executive compensation and still bleed money.
Just because raising taxes is bad for an economy doesn't necessarily mean that giving the rich more money will stimulate the economy. That's the real answer to your bottom question from an independent.
As to the original question, raising taxes is necessary to pay for the additional spending that they want for some reason or another. Would you rather they continue to borrow from China or devalue our currency by printing more of it? Raising taxes is not about economic stimulus (no matter what spin the left puts on it), it's about trying to get the budget closer to balancing. At least that's the opinion of this independent.
- Anonymous1 decade ago
Cutting taxes would stimulate the economy, but it would also destroy this country by widening it's debt by not covering the lost tax receipts.
Tax revenue went up under Reagan, but it only covered 1/3 of the tax cut.
Read a book junior, and don't start with "Think about it" because we've read about it. Try reading "The New American Economy" by Reagan loyalist Bruce Bartlett.
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- DerekLv 71 decade ago
"Take for example of what Reagan did in the 80's when he cut taxes, the tax rate was cut, but the tax revenue went up. The reason that tax revenues went up in the 80's was because more people were paying into the system"
And it left us with $2.8 trillion in debt because the revenue didn't meet his increased government spending.
- Ford PrefectLv 71 decade ago
my taxes are lower than with Bush...so your argument runs off like water off a duck's back.....really man, my taxes are lower....are you stupid or just uninformed? Do you even make enough to pay any taxes? Did you even make out the proper tax form.....you know you can have it done for free if you meet certain earnings guide lines
- 1 decade ago
Why do conservatives think that returning tax levels to where they were during Reagan's presidency going to result in the end of mankind as we know it?
You cannot reason with hysteria like this. You can only mock it.
- 1 decade ago
We get to stop the wars.
None of the strong economies in the world run ever any war at that time.
War is the sign of weakening of any strong economy