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HUFFPOST SUPER USER
BeckyJustice
Stop the frickin Fracking. NOW!
01:17 PM on 02/14/2011
Does anyone know what impact it would have on the budget if they would increase the tax on the wealthy back to where it was before Reagan? Then bring our soldiers homw from all those foreign bases where they have been in some since WWII? Then do away with all the tax loopholes?

I'm not an economist, but it seems to me that would go a lot further toward balancing the budget than taking the little bit they have from the poor.
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HUFFPOST COMMUNITY MODERATOR
LaurieAnn
Generation Jones INFJ
01:23 PM on 02/14/2011
I'd like to see that very same thing happen. Sadly I think the wealthy have undue control of our government and they've got it operating for their benefit.
whochi
Liberals think 2 + 2 = Bush
01:23 PM on 02/14/2011
Zero.
No matter what the tax rates have been (90% in the 1950's to 28% under Reagan's last year), the government has taken about 18.3% of total GDP.
Right now due to the recession the receipts are under 17% but that has not stopped Obama from increasing government spending to over 23% of GDP with no end in sight.
The budgets that came out of the Pelosi/Bush and Pelosi/Obama era added 5 trillion alone to the national debt and did so in four years.
Repeal of Obamacare and cutting spending back to 18% of GDP would still run deficits but would go a long way to getting the economy back on track re job creation.
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HUFFPOST SUPER USER
BeckyJustice
Stop the frickin Fracking. NOW!
02:44 PM on 02/14/2011
First of all, the tax on the wealthy was 70%, not 90%. Reagan took them down to 50%.

Second, you really need to see where the deficit came from in the first place.

http://zfacts.com/p/318.html
Reagan increased the debt by $1.9 Trillion.
Then Bush brought that to $3.4 Trillion.
Then all that started collected interest for the next 17 years, and with compounding that grew to $8.2 Trillion by Sept. 30, 2010. Clinton, Bush II and Obama are not to blame for that interest, and without it, Clinton would have paid off most of the $1 Trillion WWII debt that Reagan scared us with to get elected. And Bush II (and his supply siders) would have run up only $3.8 Trillion — not $6.1T, which is what actually happened under Bush II.
01:16 PM on 02/14/2011
Get out of Afghanistan and Iraq, end foreign end, get out of Germany, Korea and Japan. That'll do it! Sounds drastic, yes, just like the cuts to the social safety net the Republicans and Tea Party will propose. It will be interesting if Obama is smart enough to say to the Republicans - OK Now tell us YOUR plan to cut the deficit.
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HUFFPOST SUPER USER
suds mcduff
we're not perfect, but they're nuts!
01:23 PM on 02/14/2011
Too many jobs in the MIC for that to fly....
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HUFFPOST SUPER USER
rgilley
Question Authority!
01:16 PM on 02/14/2011
the proposed cuts are "nowhere near where they will have to go to resolve our fiscal nightmare."



Perhaps the 700 billion in tax cuts Obama signed for billionaires would have gone a long way toward the deficit. But instead Obama has chosen to take down the working poor and middle class safety nets. This should clearly show that he is the most capitulating President in history, and if he actually Does hold Any liberal democratic values he hasn't the guts to stand up to the 2%ers he knows will get him re-elected.
We don't need a spineless President for another 4 years!!
01:15 PM on 02/14/2011
On your marks... get set... Go! And we are off and running with the Monday morning quarterbacks...
This user has chosen to opt out of the Badges program
01:14 PM on 02/14/2011
It is a start
01:23 PM on 02/14/2011
...of what?
01:26 PM on 02/14/2011
Trimming the fat
This user has chosen to opt out of the Badges program
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01:11 PM on 02/14/2011
Jesse James famously said he robbed banks -- not poor people -- because that's where the money is.

Love It!
01:19 PM on 02/14/2011
It's a famous line because it's good one. But it was Willie Sutton's -- attributed at least. Apparently it wasn't even his

http://www.snopes.com/quotes/sutton.asp
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HUFFPOST SUPER USER
big tom
01:20 PM on 02/14/2011
defence spending is where the money is,, next tax cuts for the rich ,then give backs for the oil industry.bingo balanced budget... lets start today republicans are on doard?
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HUFFPOST SUPER USER
Mabo
Conservative...dialogue welcome!
01:11 PM on 02/14/2011
And rabid spending on social issues WILL help balance the budget? I think that the past years have debunked that as well...
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BBackSoon
Hello, I must be going.
01:54 PM on 02/14/2011
What are your views on Taxes for the top 20%?
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GoodbyeBlueMonday59
"Being a Humanist means trying to behave decently
01:10 PM on 02/14/2011
The cutting has to start with ending the w ars.
Then get Defense down to a size that our
country needs. And it's time to end corporate
welfare.
01:26 PM on 02/14/2011
You run...I'll campaign and vote for you.
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digital
NOW is the time for a smarter & better future
01:09 PM on 02/14/2011
Paul Krugman says the exact same thing:

Do they favor cuts in either education or health care, the main expenses states face? No. Do they favor tax increases? No. The only deficit-reduction measure with significant support was cuts in public-employee pensions — and even there the public was evenly divided.

The moral is clear. Republicans don’t have a mandate to cut spending; they have a mandate to repeal the laws of arithmetic.

http://www.nytimes.com/2011/02/14/opinion/14krugman.html?hp
01:08 PM on 02/14/2011
Erskine is right. Medicare/Medicaid needs a look. Poor yuppies might have to take care of mom and dad at home.
01:10 PM on 02/14/2011
st00000pid comment.
01:16 PM on 02/14/2011
rebut with facts. or you're the one looking st00000pid.

http://www.cbpp.org/cms/index.cfm?fa=view&id=1258
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HUFFPOST SUPER USER
rgilley
Question Authority!
01:17 PM on 02/14/2011
And if mom and dad do not have any "yuppies" to care for them let them die right?
Afterall that IS the conservative way, the system just selects them for extinction.
We are a despicable people indeed!