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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (107650)7/15/2011 11:01:50 PM
From: TimF1 Recommendation  Read Replies (1) of 224750
 
My specific cuts would be to cut all money we are currently spending in Iraq and Afghanistan.

So your only cutting an area representing a small and declining percentage of federal spending.

My specific revenue increases would be a return to the Clinton era tax rates.

Even ignoring the economic harm of tax increases, and the increase in incentive to avoid or evade taxes, it doesn't produce nearly enough revenue. And its not something you can make up by increasing taxes even more, as you increase rates you get less and less extra income for each additional percentage, eventually (sooner if your considering the long run effects which we should, since the problem isn't just current budget balances, its primarily about the future) you start reducing revenue by increasing tax rates.
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