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Reply to "US credit worthiness downgraded yet again"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Bidenomics. Spend money you don't have, promise people things you can't provide, flood the country with cheap, unskilled labor, then sit back as things implode. [/quote] We could easily increase taxes on capital gains, remove the cap on social security and slightly increase income taxes overall, and reduce our military budget to something sane and we'd never have a funding problem again.[/quote] You're only 1/3rd right. Cut spending on social security and Medicare/Medicaid too. Those eat up over half of all tax revenue right off the top. Of course for Democrats, it's almost always a tax problem, it's never a spending problem, except for military. Cuts across the board please. Nothing is safe, including SNAP benefits, housing programs, education, food stamps, and all other social programs. You can't tax your way out of spending addictions. [/quote] Our tax burden especially on corporations and the wealthiest is one of the lowest in the last 100 years. There is plenty of room to increase. And guess what? Gen Y is ready to do that.[/quote] Bull S. The amount of taxes we pay as a % of total GDP has remained remarkably consistent for nearly 50+ years: https://data.worldbank.org/indicator/GC.TAX.TOTL.GD.ZS?locations=US So how does the US ring up such massive deficits if the amount of taxes the overall country pays basically has remained the same for 50 years, give or take a minor few percent? THAT MEANS WE HAVE A SPENDING PROBLEM. But go ahead and keep increasing taxes. You'll turn the country into a sh!tty European country like the UK or the PIGS where economic growth will be anemic, wages and salaries stagnate, and there will be a slow, long-term drag downward for quality of life. Democrats......always trying to tax their way out of problems..it's never a spending problem. Yeah, how about you try to earn your way out of a credit card spending problem and see how well that goes for you without fixing your shopping addictions. [/quote] England's economy is tanking because they left the EU under Brexit. Pretty simple.[/quote]
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