Quote:
Originally Posted by dippin
And none of those "cuts" will make anything more than a minor dent in the long term deficits the US faces. In fact, if the Bush tax cuts are made permanent like the republicans want, this won't even be enough to make up for that loss of revenue.
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We agree that the deficit in the U.S. is a big problem. We are spending far more than we should, based on our incoming revenue. The plegde by the Republicans will not be enough, assuming all promises are able to be kept, but
I think it is a start in the right direction.
When the government raises taxes, the government spends more. One problem of raising taxes is that it gives more of an incentive to businesses to send profits overseas (e.g. manufacturing overseas.) to avoid this cost.
I see the deficit as a problem of economics. The U.S. dollar is very weak right and we are continuing to exist as import economy.
Our tax system is corrupt and needs to be changed.