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Reply #18


Response to mostlyconfused (Reply #15)

Tue Dec 18, 2012, 03:58 PM

18. Well, now we're talking about paying off the debt....

According to the President, eliminating the Bush tax cut (4% increase) will raise 700 billion in revenues in 10 years (http://www.cbsnews.com/8301-18560_162-7032813.html).

Which means a 40% increase on the top tax rate to a rate similar to the pre-Reagan rate of 79.6% would yield 7 trillion in 10 years.

Which means a 58% increase to 94% (the rate the Greatest Generation thought was best) would yield over 10 trillion dollars over the next 10 years.

And then we can institute a STET tax, close corporate welfare loopholes, and bring in revenue from tariffs, etc.....

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democrattotheend Dec 2012 OP
PoliticAverse Dec 2012 #1
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mostlyconfused Dec 2012 #12
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mostlyconfused Dec 2012 #14
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mostlyconfused Dec 2012 #15
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grahamhgreen Dec 2012 #18
dkf Dec 2012 #26
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democrattotheend Dec 2012 #23
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