Fail. Spending is the one problem underlying all the others, and it's not even mentioned here.
Fail. It isn't. If anything, you should be spending more.
You are wrong on so many levels that it's hard to know where to start.
First, he's talking about the government's level of spending. Not consumer spending. Government spending is the problem, not revenues.
Second, consumption does not fuel economic growth. Production does. You must produce before you can consume. Unhealthy consumption driven booms ignited by cheap, easy credit via the federal reserve always end in catastrophic collapse. See 2008 for an example.
What? Demand fuels supply. Not the other way around. No company is going to make something for which there is not market. Well I guess they could but they wouldn't be in business long (See Spray-on Hair). In OUR case there's no demand because there's no money to back purchasing power.
The crisis you refer to in 2008 had to do with sub prime mortgages. It had to do with Wall street bundling over rated securities and playing god with peoples homes. But more than that it had to do with our lack of large corporation over site. it had nothing to do with government spending unless you want to talk about the lack of regulatory spending.
Look, if the problem were that easy it would be solved by now, but it isn't and … it isn't. Our budget was balanced in the not so recent past and at that time our taxes were higher and our defense spending lower. Hmmm… think that could work again? Signs point to yes!
But you're right… kind of. Government spending for unnecessary wars is a problem. Governments lack of adequate income is also a problem.
Thanks for playing!
Fail is correct. The problem is the spending stupid!!
The higher earners have gotten the most tax breaks in the past few decades. Raise their taxes back up and lessen the pressure on the middle class so we actually have money to spend and help the economy.
This is the dumbest thing I've ever seen.
The problem is with spending, folks. Raising taxes is not the answer. Taxes siphon resources away from where the market would direct them, further stalling growth. Imagine how much purchasing power you would have if the government were downsized and the income tax were eliminated.
All you guys are only half right at best. We have a spending problem, and the major culprit for that problem (the american war machine) never gets mentioned…. We also have an revenue problem, and the major culprit there (the upper class and business) always seem to escape the noose when it comes time to pay the bills, and instead the burden gets shoveled off on people who can't imagine paying a penny more in taxes, because they are living paycheck to paycheck.
The way things are going right now, is really scary- because eventually many of the people currently paying the tax burden will wake up and realize that the money they pay in taxes doesn't go towards anything they actually care about. (some already feel this way, more will join them as more government services get shut down in favor of paying a debt that most people don't even seem to fully understand)
I hate to say it, One day the top 10% of wage earners will realize that they are carrying 90% of the tax burden and they might do something about it. And something might be a fair tax or some other thing that would increase the tax burden on the middle and lower classes.
Does anyone else feel like your reading the last 1/4 of 1984 anytime someone uses the middle and lower classes as a shield rather than addressing the issues?
You say the top 10% of wage earners are one day going to wake up and get upset about carrying 90% of the tax burden, but even in 2007 before the recession that just devastated our lower wage earners, the top 10% of wage earners controlled 83% of the wealth in our country. As the profits of larger corporations (in certain sectors, to be fair; retail on non-luxury goods has yet to recover) continues to see record numbers, jobs still remain elusive for the "rest" of the country.
On a non-numbers, purely common-sense note: are you seriously arguing that what's *really* wrong with this country is that all those rich people have it so very, very hard?
I WILL say, however, that we need to do some serious work on our spending. Our spending is *absolutely* out of control, and we're never going to be able to get our economy back in shape if we don't curb it. I'm definitely behind Shawn in that our spending on wars in countries that in no way threaten us is outrageous in the face of cuts to much-needed social programs at home, but we ARE going to have to suck it up and face some cuts as a nation.
On the other hand, spending cuts alone aren't going to take care of our very serious debt problem. We've got to raise new revenues, or close some tax loopholes where people can most afford to pay — up top. The key is that it takes SHARED sacrifice to get out of a mess like this.
I am not saying anyone has it harder than anyone else. I think it is an easy route to assume anyone who makes a lot of money has it easy and deserves to have more of their work reappropriated.
I certainly agree that war spending is out of control, while the debate of its necessity is an entirely off topic
So your idea of shared sacrifice only involves "up top" sacrificing, as they can afford it. My question is who is anyone to judge who can afford what?
I would argue there are millionaires who lost proportionally more than most at the bottom. Is their sacrifice less worthy than someone who has less? or less damaging?
What I'm saying is that most of the people on the bottom just don't have the money to give in new revenues. Their sacrifice will largely be in cuts to programs that support them. I'm willing to have a discussion about medicare, medicaid, and social security reform, as long as that's not ALL we're talking about in terms of fixing our federal budget. The rich right now have absolutely historically low tax rates, and the Bush tax cuts were sold to the American people as being designed to expire. They were sold to us as a way to pay the American people back for the surplus our budget was running. Now, the situation is entirely changed, and letting the Bush tax cuts expire would go quite a long way in alleviating the deficit. If the entitlement programs are all on the table, then at the very least, the Bush tax cuts should be as well.
Sharing sacrifice isn't just about the lower class OR the upper class. I'm just a little disgusted to see the debate framed like it is. The sacrifice on the part of the middle class and the poor is sometimes between whether food goes on the table or not. I understand that many people who are rich worked very hard to get there, but if it's between taking away somebody's food for the day or making someone put off the purchase of a yacht, I think asking those with more than enough to sacrifice for the greater good should come before asking people who don't have enough. I think, in the end, if we're going to fix this thing, EVERYONE'S going to have to give up SOMETHING, but I just ask that it actually be EVERYBODY.
Totally agree about the tax cuts, but I think as a nation we either need to accept the fact that we need less social programs or more revenue. It is a very simple and scalable equation. Forcing a balanced budget wont fix this problem, nor will extending the debt limit. We as a nation are all going to have to set aside our spider-man undies and act like adults. I believe sooner rather than later. The boomers are going to hit my generation harder than Charlie Sheen hits a line of coke.
My problem with your statements stems from the fact that someone, anyone would have more of a right to my time(because that's all my money is) than I do.
The worst part about any of this is I am the only one I know who will admit that they are fairly taxed. And as a small business owner I get hit with the big ugly all my income falls in one pot stick, but I overvalue not having to catch bullets with my chest and all ;)
Politics aside, don't you rage when it forces you to shut down?! I hate that! No I don't want to be reminded, I'll reboot you next week or so.
The problem isn’t “loopholes”, it’s spending. People keeping their own money isn’t ruining the economy.
But more generally, please don’t post political comics here. I go to political sites for politics. And this isn’t geeky at all, it’s just bullshit trolling (which is what Fark and Reddit are for).