Quote:
Originally Posted by WesternCanadaKing
Well in that vein everyone who voted for Bush is just as culpable. You don't think the lowering of taxes while funding two wars on the other side of the world didn't contribute? How about Bush's own bailouts at the end of his term? I'm not 100% on this, but I think I remember reading that Bush increased government spending more than any other president up that point. Obviously he's not entirely to blame, Obama hasn't done much either, but to say the middle class and poor deserve to have their services cut for supporting Obama just doesn't make sense.
There is so much wrong with your post but this really stood out in not only its ignorance but also the arrogance. I don't understand why its such a problem to ask all members of the society to contribute more during times of hardship. The middle class and poor are going to pay no matter what happens.
|
If I remember correctly, only about 53% of Americans pay taxes.
Similarly, the old axiom that 20% of Americans pay 80% of the taxes is generally in the ballpark of truth.
If you're on the wealthy side, there's certainly something inherently unfair when your tax bill is in six figures and all you're hearing is whining from the jerkoff driving a Volkswagon beetle that you're not paying your fair share.
However, there does seem to be something wrong when you hear yesterday that General Electric made $14 billion profit and didn't pay taxes, basically still writing off losses from the last recession.
Nevertheless, Calgaryborn is correct in that the profit motive can't be stifled too much. If that happens, you're as good as dead.
As I said earlier, total USA debt, government, business and household, is actually declining and is in better shape as a percentage of GDP than many peers around the world. That's why markets aren't too wound up about this as of yet.
But government is paralyzed in the USA because the middle ground has disappeared and politics has been replaced by a religious mantra - on both sides - to some extent. Politicians could get this done - fanatics have a more difficult time compromising. And thats true on both sides.
Cowperson