Sunday, September 19, 2010


I've been reading the debate over on the Big Picture blog in
the comments about tax rates. Should they raise taxes, or just for
the "rich" people. I strongly believe that people will work less at higher tax rates. I know I don't work more for more money at my current tax rate. (Meaning
my real job that I make my salary for I'll work as hard as it takes, if someone offered me money to go to a rig and work I wouldn't even though I have in the past)

But I don't think our problem is a receipts problem that needs new taxes
but a spending problem. You can look at the above table, and see that with the tax cuts revenue decreased $145 billion from 2000 to 2004, spending increased $503 billion. Even with this glut of spending (Iraq, Afganistan, bloat) by 2007 the
deficit was only $160 billion and decreasing by $70B per year. If not
for the crash, we'd be in surplus now. So no new taxes.

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