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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (145043)	9/22/2010 3:18:24 PM
From: Cogito	Read Replies (1) \| Respond to of 543067

>>All I feel certain about is that unless higher tax revenues flow into the federal government from somewhere, the country's indebtedness will become unmanageable and hurt every sector of the country and every demographic and for a very long time.<< I agree. What's unfortunate is that those who still believe that cutting taxes will result in higher revenues for the government are just numerous enough to make it nearly impossible to do what is necessary to actually increase them. No, I take back the "nearly." I'm not sure why people think that if you cut spending AND cut taxes, that will somehow balance the budget. Between the loss of revenue from the tax cuts and the loss of economic activity from the reduced spending, the deficit ratios would only get worse, it seems to me. I'm just using logic, though. I don't have a degree in economics.

To: Katelew who wrote (145043)	9/22/2010 4:24:34 PM
From: Little Joe	Read Replies (1) \| Respond to of 543067

"Because so much of the expansion and hiring is happening offshore." OK that sounds plausible. Any support for this idea? " All I feel certain about is that unless higher tax revenues flow into the federal government from somewhere, the country's indebtedness will become unmanageable and hurt every sector of the country and every demographic and for a very long time." There is no painless way out. I think the quickest way out would be to dramatically reduce spending, stop trying to artificially hold up prices and let them find their own level. and at least it will be over in a few years. I might want to add we should eliminate fractional reserve, the fed and go to debt free money. But we should do that even if we are not in a crisis. lj