Spend money we borrow, put in new programs that are not paid for, but are ongoing.
Then, when someone says we must control our spending, lower our debt, the argument goes…
We can’t default, we are not talking about new spending, just paying for what we have already committed to
Isn’t that what you said Sen Warren?
The idea that there is an untapped fountain of money that is just waiting to be taxed is flawed. Higher taxes on anybody is going to create pushback.
The spending increases daily but the benefits of the spending aren’t increasing daily. We need a moratorium on any new spending.
Here’s something to think about…
“Most Americans, including nearly half of Republicans, support raising taxes on people making at least $400,000 while keeping the current tax rates for everyone else, according to a new poll from The New York Times and SurveyMonkey. ”
Consider it an investment in our future. And our grandkids futures.
Don’t tax the poor, that’s an exercise in futility.
I have no doubt they do. What they don’t realize or care about is other countries tax everyone at higher rates and many include a VAT and various high fees and special charges like on buying a car.
“…other countries tax everyone at higher rates…”
On average. There’s that flaw of averages again.
The blue line is key. Higher incomes pay more in taxes. Lower income receive more in transfers.
Liberté, égalité, fraternité
We could do better. And studies have shown we would all be better off, richer and poorer. Its not a zero sum game, as they say.