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They mean taxes are too low. 2 ways to make up a deficit: Raise taxes or cut services. They want the deficit fixed, and they want it done through taxes.
by gte910h 16y ago
They mean taxes are too low. 2 ways to make up a deficit: Raise taxes or cut services. They want the deficit fixed, and they want it done through taxes.
- anamax 16y ago> They mean taxes are too low. 2 ways to make up a deficit: Raise taxes or cut services. Interesting that you equate spending with services. The deficit is spending - revenues. The latter are only slightly connected to rates, especially the top marginal rate.[1] Are they looking to get more revenues from the 50% of the population that isn't paying much of anything or the 1-2% which is paying 40% of revenues? Which reminds me - while the top marginal rate has jumped around a lot, the "tax revenue as a fraction of GDP" hasn't managed to top 21% for very long and tends to stick around 18%. We're currently spending around 25% of gdp. Why will we be able to hit that with tax revenue? [1] The estate tax has never been, and never will be, a significant revenue source. The very rich don't die often enough and they engage in significant estate planning. The estates of the rich folks who died in 2010 weren't going to pay much in taxes because they did estate planning in previous years.
- gte910h 16y agoI'm not particularly interested in talking tax policy on HN as I view a great majority of it offtopic. If you'd like to hit reddit.com/r/politics, I'll talk till the cows come home.