Quote Originally Posted by RICHYD4U View Post
I don't understand this debate of raising taxes?

Raising taxes would do nothing to help us get out of the trillions of dollars we are in debt...its like a drop in the bucket compared to how much money our government spends right now. The simple fact is that regardless of the tax levels, we are spending out of our "you know whats"....and now matter how much you try and tax the rich, unless you drastically cut our spending....we will continue to accumulate massive debt.

-Rich
I think this national debt is a big problem.

About ten years ago I found myself extended way beyond my means. Credit cards, house payment, utilities, insurance. car payment, every month I was streached to the limit. So I got a part time job 3 nights a week and withing 18 months the credit cards, car, and home equity loans were all paid off.

I could not have done this without the income. I could have missed the house payment and moved into a tent in the park, but my wife would have took the children and moved on, so that was not realistic.

So we are in the same situation. The debt is high and we are not going to cut the debt by taking in less money. Simple math shows that less money coming in means less money paid on the debt.

We do need to control spending but that is not going to get us out of this debt alone. We had budget surpluses in the 80's with a tax schedule that was not intolerable and a strong economy.

So if we can generate more income in a fair and equitable manner to earmark towards the debt, coupled with very controlled spending, perhaps we can manage ourselves out of this debt.

If we can eliminate this debt, the national budget would increase by 30% on interest savings alone.

Don't confuse the debt with deficit. The deficit is the short fall each year and the debt is the shortfall that has accumulate over many, many years.

The biggest argument now is that any tax revenue increase will stall the economic growth. This would not be good for employment and the current economy struggling out of a resession.

So I think it is a good idea to raise revenues although we may wait until the economy is on strong footing. I for one would be very happy to make a small sacrafice to get us out of this debt quagmire once and for all. Then we should look at the balanced budget amendment.

In the meantime lets get out of Afganistan and Iraq. Bin Ladden has been caught. Pakistan is no friend and we can save billions and billions getting out now. Spend that money paying off the debt and building or military back up. That would do the most to strengthen the USA.