(December 21, 2012 at 10:11 am)5thHorseman Wrote: It's called timing, Capn. Certain things work well at certain times. If the tax cuts go out, it will come at the cost of many low-middle earning americans who are the real spenders in the country and cannot afford higher taxes right now. If their spending power is lowered, revenues are lowered, it's self defeating. There are times where taxes can be raised with little effect on peoples spending habits.
The reason there is no agreement is because the Democrats only want a tax rise on the wealthiest - who CAN afford it. The Republicans think that if there is going to be a tax rise, more people(lower earners) should get it too, but at the moment it doesn't make sense because it'll lower revenues and the debt will rise further.
I think that is all shit. Everyone is America could live with less money. We can't run an economy infinitely with the idea that we need to just spend and spend and spend. If we don't do something about our deficit, we are going to go over a much larger cliff in the future. Also the middle class in this country are ridiculously wealthy compared to 90% of the world. The idea that they can't afford this is absurd.
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