Is there anyone who believes we can raise taxes enough to balance the budget without destroying the economy?

Lol, not going to happen. Though this type of economics is well beyond almost everyone's understanding, much like quantum mechanics(particle theory), all the industrialized world is in the same boat, google up Japan's debt, so any way we will all same boat so no one is able to throw you a life buoy.

Sure, if we return to 1920-era tax rates. You know, when the rich were taxed at 95% and the poor, well, just about everyone was taxed 95%.

So, no, raising taxes alone is not going to do it. We do need to look intelligently at spending - especially military spending which I feel is way too high. We also need to look at fixing loopholes and finding other areas to reduce waste and inefficiency. Healthcare is a good example of inefficiency where an estimated 30% of each dollar spent is wasted.

All economies rely on the circulation of money. Manufacturing, farming, construction and service industries need money to be in the hands of consumers to buy their products and keep the jobs market buoyant.

It is a bit like a petrol shortage. so long as everyone is buying petrol as they need it there is plenty to go around. As soon as people start stockpiling they create the very shortage they were stockpiling against.

The same has happened with money whereby a relatively small number of people have been allowed to stockpile too much so there is not enough to go around. Taxation is one way the govt can put cash back in the hands of the consumer.

When you look at how the 2012 election went.

50% believe Yes, 50% believe No.

You are missing one essential element to the question.

Can we raises taxes to balance a budget - Yes, probably

Can we raises taxes to balance a budget AND pay off current debt - No, not likely

Then there are other factors.

Is the budget adequate to prevent degraded services?

Do we want a particular expense, added or removed, to the budget?

I'm glad to see you questioning! Keep on asking.

A nation that has been living beyond its means for so long will need to start payingdown its debt at some stage. If they do not, there isnotlikely to be much of an economy.

Raise the tax who has income more than 30000per month. and raise the company who has more than half million profit per year. It is becsude everyone need to spend money and make the evonomic better. sale tax should decrease to make people want tospend more money. increase thye import product tax .i believe not to destroy economy . it depend on whst kind of tax.

even if taxes are raised to 75 % for rich and 95 % for super rich debt burden will not come down by more than 2 % . much is much deeper than band aid solution

I do

A balance budget will bring growth on its own once the balance is real, 5 to 10 years.

Just think how people feel when they pay off their mortgage, they become rich in a small way.

Well its like that for a country and its physic.

The problem with debt is that not only do we have to pay the principal but also its gargantuan INTEREST on top of that.

All of you are familiar with how a mortgage works. that exactly how debt is also repaid.

High taxes actually helps an economy.