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Reply #27

In the discussion thread: Why Libertarianism Doesn't Work [View all]

Response to ProSense (Reply #26)

Sat Dec 31, 2011, 11:47 PM

27. So where are those popular tax hikes? Lets see them.

The math here is simple, debt is higher than GDP. That means if every cent made by everybody in America in a year went directly to the debt, it wouldn't be enough to pay it down. If there were no interest accruing, and current expenditures causing it to grow, then it would be manageable over a 20 year period with a 5% tax increase to everyone. (or more focused on higher earners, as you prefer) But with the current spending and interest, it will take even more to reign it in over a 20 year period, and those high taxes will be politically ugly. Nobody is going to be happy with them, especially visualizing their money being handed to wall street bankers and unnecessary wars.

edit: And what I just wrote ignore the fact that Americans getting together on anything over a 20 year period is a total fantasy. The minute somebody gets in who needs to win a political popularity content, he will "temporarily" get rid of them, and like Bush tax cuts, it will be politically infeasible to get them back.

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ProSense Dec 2011 OP
TheWraith Dec 2011 #1
Poll_Blind Dec 2011 #25
Sarah Ibarruri Dec 2011 #2
Betsy Ross Dec 2011 #7
Sarah Ibarruri Dec 2011 #8
Sarah Ibarruri Dec 2011 #9
hifiguy Jan 2012 #49
Sarah Ibarruri Jan 2012 #50
JDPriestly Dec 2011 #11
Sarah Ibarruri Dec 2011 #12
dawg Dec 2011 #3
Sarah Ibarruri Dec 2011 #10
abelenkpe Dec 2011 #4
ProSense Dec 2011 #14
deacon Jan 2012 #36
onehandle Dec 2011 #5
PowerToThePeople Dec 2011 #6
quaker bill Dec 2011 #13
ProSense Dec 2011 #15
quaker bill Dec 2011 #19
ProSense Dec 2011 #21
freshwest Dec 2011 #17
izquierdista Dec 2011 #16
napoleon_in_rags Dec 2011 #18
ProSense Dec 2011 #20
napoleon_in_rags Dec 2011 #22
ProSense Dec 2011 #23
napoleon_in_rags Dec 2011 #24
ProSense Dec 2011 #26
LineLineLineLineLineLineLineReply So where are those popular tax hikes? Lets see them.
napoleon_in_rags Dec 2011 #27
ProSense Jan 2012 #28
napoleon_in_rags Jan 2012 #34
ProSense Jan 2012 #38
napoleon_in_rags Jan 2012 #39
ProSense Jan 2012 #40
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ProSense Jan 2012 #42
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MH1 Jan 2012 #46
napoleon_in_rags Jan 2012 #47
Night Ripper Jan 2012 #29
ProSense Jan 2012 #30
Night Ripper Jan 2012 #31
ProSense Jan 2012 #32
PeaceNikki Jan 2012 #33
deacon Jan 2012 #35
hughee99 Jan 2012 #37
TheKentuckian Jan 2012 #43
ProSense Jan 2012 #48
Quartermass Jan 2012 #44
ProSense Jan 2012 #51
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