02 Jan '13 02:46>
Originally posted by no1marauderOk, so you are holding your breath till you turn blue. Again faced with a total repeal of the Bush tax cuts (Obama tax rates) Democrats choose only to symbolically punish the rich for success, instead of real tax increases across the board, and spending cuts.
I admitted no such thing. The vast bulk of the benefits of the Bush tax cuts went to the rich. Like all such schemes over the last 30 years, some cuts were made for the working and middle class to make them politically palatable. They, coupled with the vast increase in military spending, busted the budget. Of course, the Great Recession caused by the fin ...[text shortened]... d to atrophy due to the myopia of Washington politicians would be both necessary and helpful.
Of course, under a progressive tax scam, scheme, the high earner pays the most, so benefits the most from any tax cut at any marginal rate. The high earner benefits at each marginal rate up to the highest. Others benefit only on the rates up to what they earn. Since they earn less, the reduced rate saves them less.
In a totally flat tax rate plan, every person would pay the same tax rate, but the high earner would pay significantly more money based on the high income, not on class envy.
I note you ignored probably the most important thing I said, so I'll repeat it. Get rid of ten year baseline budgeting. This allows too much demagoguery, as well as mischief as to what the deficit really is.
I agree that military spending is over the top. However totally eliminating the military altogether, would not balance the budget, and obviously a right sized military is a Constitutional mandate.
Interfering with the market and dictating that banks ignore mortgage underwriting is not. It doesn't even make sense. Neither do private corporations operating with a government imprimatur, and heavy influence in both houses of Congress.