Did you know the only way to get out of debt is to raise taxes?

Question

http://img178.imageshack.us/img178/3230/natldebtchart20062tc9.gif

That will put into perspective who needs to be president next also.

Answer 1

Yes, so if you compare the two candidates' plans, you can see who will do best at getting us out of debt?

Affects of John McCain Tax Plan (Average change in Federal Tax)

Bottom 20%  minus $20

Second 20%  minus $123

Middle 20%   minus $282

Fourth 20%   minus $512

Top 20%       minus $2826

Top 1%        minus $31,628

Top 0.1%     minus $190,653

Affects of Barack Obama Tax Plan (Average Change in Federal Tax)

Bottom 20%   minus $617

Second 20%  minus $959

Middle 20%    minus $969

Fourth 20%    minus $753

Top 20%        plus $7748

Top 1%         plus $133,715

Top 0.1%      plus $789,241

http://www.taxpolicycenter.org/publicati...

Answer 2

Cutting spending on our bloated military budget helps too.

Answer 3

McCain's plan to develop,utilize,and refine our own resources would stop the flow of money going out,create extensive job opportunities,and thus spread the taxation out over a whole lot more wage earners. He's a brilliant man with great ideas I find to be quite workable.

Answer 4

I thought we could just borrow some more money from the CHINESE

Its like Bush asking his parents for money or McCain asking his second wives family for money they never earned it so the do not know the value of it

Answer 5

Forget taxes for the moment.  Republicans have presided over out-of-control government spending since 1968 (except for a real national hero, Gerald Ford, who exercised the veto like a sledge hammer on government spending).  Yet you still hear Republicans of every stripe claiming that we need to elect them because Democrats will cause out-of-control government spending.  I can't figure out which is more amazing:  That Republicans say this, or that people actually believe it.

Answer 6

The most effective way to get out of debt it to maximize the GNP.  Sometimes this means doing the counter-intuitive thing of lowering taxes.  Sometimes this means increasing spending.  It's never a cut & dried answer.

Answer 7

Did you know that more jobs=bigger tax base?..with Obama's plan to raise taxes on the very companies that supply jobs it will cut our tax base as these companies will downsize or move out of the country to compensate for higher taxes. Raising taxes is a no win for everyone. Cutting spending & more jobs is the answer not raising taxes.

Answer 8

My new background.

Answer 9

How about if we tax everyone 100% of everything they make, then we'll all be rich!  On flaw in this plan tho, if people know that no matter how hard they work all of their hard earned money will be confiscated by a bloated and corrupt bureaucracy.  If you really want to increase the revenue to the treasury, you need to have an incentive for people to work harder.  Let them keep more of the money they earn.  It was tried by President Kennedy when he cut the top income tax rates and the money poured into the treasury.  It was tried again under Reagan and Bush II.  If you look at how much came into the treasury it went up every time it's tried. The problem we have with our Debt is domestic spending, every time we actually increased our take for the treasury our royal political class goes on a vote buying spending spree (democrats and liberal republicans alike).

Answer 10

You are a FOOL. That is like saying the only way to balance your checkbook is to force your boss to give you a raise.

The way to get out of debt is to STOP OVERSPENDING!

Answer 11

"Forget taxes for the moment. Republicans have presided over out-of-control government spending since 1968 (except for a real national hero, Gerald Ford, who exercised the veto like a sledge hammer on government spending). Yet you still hear Republicans of every stripe claiming that we need to elect them because Democrats will cause out-of-control government spending. I can't figure out which is more amazing: That Republicans say this, or that people actually believe it."

Both parties do it no doubt buts it's way they do it that'ss the difference. Oh sure the republicans will increase the national debt, however most people really could give a fig less about that. Taxes under democrats tend to be highers because they want to pay for social programs that the people who are taxed don't get mind you. And the easiest answer is too cut the programs...if we cut aid to africa,east europe,police actions,welfare programs too the absolute bone, and any number of pointless projects...all began under democrats mind you. Then we could actually pay our debt off in a few years. You don't need to raise taxes.