Credit Debt Cures

John McCain wants to reduce taxes to cure the economy, will Republicans never learn?

The National Debt increases 1.49 billion dollars per day and "trickle down" economics has been shown to be a complete farse, why do Republicans always champion economic principles that don't work? It seems McCain, and other Republicans, are trying to bankrupt our country. regerugg... - Please look at a National Debt chart. par8hdma - I'm not suggesting increasing taxes on average Americans, but cutting taxes when the debt is increasing 1.49 billion dollars per day is stupid beyond belief. I believe taxes should be raised on the rich.

Public Comments

1. That's all they know. They still haven't figured out or just plain don't care to, that 'trickle down' Reaganomics barely trickles down to the middle class and not at all to the lower classes, but loves CEOs. They still believe Clinton caused this recession 8 years later and Ronald Reagan was responsible for the prosperity of the 90s even though he'd been out of office for years. Consistent, but wrong.
2. No, they ran out of ideas a long time ago.
3. When will democrats finally get it that we pay entirely too much in taxes?? Low taxes generate more tax revenue and pays off the debt faster. Yet you want to create a larger government that will cost us even more taxes? You people are insane.
4. Yep, it sure does. The problem is that most people have no idea how economics works. They would rather see $600 bucks in their pockets, even at the cost of gutting Social Security 20 years down the line.
5. Well, almost all economists agree that it was the Bush tax cuts that got us through the double whammy of the recession (that was inherited from Clinton, I might add) and the 911 fall out to the economy. It is the out of control spending - not tax cuts, that got us where we are today. I dont know what you are referring to when you say trickle down does not work. If you are saying that the Reagen tax cuts did not increase revenue, then you sir, are mistaken!
6. Are you saying you would like an increase in taxes? The government collects enough taxes already. They need to reduce spending, not increase taxes.
7. Every economic upturn has come after tax cuts. Kennedy and Clinton did this as well as many Republicans. Tax increases have never ever helped the economy.
8. Trickle down does work.....for the rich. So McCain will be no different then Bush.
9. Why has trickle down economics failed? From 2000-2006, the economy was surging forward (9/11 being the exception). During Reagan's years, the economy was surging forward. President Bush singlehandly fixed the Clinton debacles and gave us a sound economy. The evidence is overwhelming. Low unemployment, high stocks, high personal incomes. These are all evident during the past years. Only after the Democratic Congreess started did the economy slow down. In fact, the day after a Democratic majority was placed into power, the stock market tumbled over 200 points.
10. No. The problem is, Americans eat it up.
11. Well... I think we do need tax cuts... just not the ones he's proposing... How about we give a tax cut to the folks who actually need it, and will spend the money back into the economy ..'?? the MIDDLE CLASS ! McCain wants us to believe lowering the corporate tax from 35 to 25% is going to trickle down to us...and making the Bush tax cuts permanent, which is part of the problem, is going to help solve the problem... I don't know about you, but I noticed that most of the wealth in this country tends to trickle upwards.
12. It has been said many times: Democrats raise taxes...Republicans raise debt. I'm sure if John McCain wants to lose weight, he eats until he's ready to burst. That would follow his philosophy.
13. Well, the tax cut Bush enacted would have worked out well and the USA would be prospering if trillions of $ in deficits hadn't piled up because of the war in Iraq. You can not have you cake and eat it to. You simply cannot have war and prosperity. The Republican notion of continuing the war in Iraq and cutting taxes will put every American in the poor house.
14. Well, get the illegals out of this country. Illegal immigrants cost taxpayers about $1,000,000,000 a day. We could start here and that would be a pretty good chunk out of the debt. If only the left were not against it. Seems the left likes to blame but will take no action except throw more money away.
15. Since your average parasitical Democrat does not pay taxes, they have only a theoretical concept of the process. They'd rather sit at home waiting for the entitlement they've earned from the government for being a Democrat.
16. You are as wrong as you can be. You are denying recent history. Jimmy Carter killed the US economy while president. Ronald Reagan cut tax rates and started the US on an economic boom. The first President Bushed swore not to raise taxes. He did, we had a slight recession, he got voted out of office. Bill Clinton raised taxes. There was an economic boom that fizzled, with a recession at the end of his presidency. The current President Bush effected several tax cuts to stimulate the economy. It worked for seven years, despite major disasters...like 9/11 and hurricane Katrina. The problem with national debt is that Congress spends more money than taxes bring in. No matter how much money is brought in, Congress always spends more. With even a majority of tax-and-spenders as Democrats, they will only spend so much over and above what is brought in. The goal is to therefore not given Congress an unlimited amount to waste. The debt gets so high that it becomes an issue, and that is the only thing that curbs spending.
17. Democrats love giving their money to the gov't, don't they. As if we are all living in some collective. I could care less about the deficit. I still have to make my house payments, and God forbid...enjoy life a little.
18. And you think the Democrats have the answer? We are a country that cannot function on it's own anymore. There are very few products that are made in America and the Congress will not vote to heavily tax imports...so way too many companies jump ship to manufacture over seas. You can thank BJ Bill for letting all of the false hope of the 90's paper millionaires that have since went into the toilet. The years to come are back to reality and the people of the U.S. need to quit relying on credit cards and loans to "purchase" everything. So you can take stabs at Republicans all you want, but why haven't the Democrat Congress fixed anything yet? Do a little study on that and you'll see the government is only concerned of themselves...Career Politicians need to go. Term limits for any politician should not exceed what the President can hold...8 years.
19. I'm probably a little ignorant in this field but I don't see how increasing taxes helps the economy. About half of my paycheck is taken before I even get it (taxes and insurance) and then I have to pay my bills. After that I have enough money to go buy groceries to feed my family. That is at the current tax level so please explain to me how increasing my taxes will help me be able to spend more money and thereby helpt he economy out. If everyone is taxed in a similar manner noone would be able to go out and buy homes, cars, tvs, dvds, clothes, etc. By the way I'm very much middle class and my bills are nothing but your basics-no insanely high credit cards or anything like that. I would think that lower taxes and intelligent thrifty spending by the gvt. would work just fine. The key, of course, is to get someone in the office(s)-pres and congress- who will cut pointless spending and allow states to do most of the governing.
20. It is the Democrats who won't learn. The Bush tax cuts created trillions of dollars of new wealth, reduced unemployment to the lowest level in history (it still is, notwithstanding the credit mess -- which Bush had nothing to do with), and INCREASED tax collections by hundreds of billions of dollars per year. The Democrats keep complaining about tax cuts for "the rich"; they should be aware that before the Bush tax cuts, the top 10% of taxpayers were paying 60% of total tax collections; it is now 70%. The Democrats are threatening to kill the goose that has laid this remarkable golden egg.
21. Interesting, it seems you are not appraised of a little bit of US history most people fail to learn. The US government has been deficit spending since about the 1840's. People started complaining about it then, and now our national deficit is so enormous that we can't even make the interest payments if we raise taxes and cut spending. One thing keeps our country from colapsing from the massive debt. The fact that inflation keeps lowering the value of the money we owe. Unfortunately it also lowers the value of the money we earn. If you look at John McCain's voting record you'll see that he voted against the Bush tax cuts both times. This was because they didn't come with spending restrictions to keep us from spending more than we earn in tax revenue in a year. The one time in our recent history we didn't spend more than we made in national Tax revenue was under Bill Clinton and a Republican Congress! That includes John McCain who voted for Bill Clinton's ballanced budget. Unfortunately, politically speaking, this is a death knell with Republican voters who only want to see more money back in their pockets, they don't care if any social services are available to the needy in our country. They would gladly do away with medicare, medicaid, welfare, and social security in exchange for $500 to $600 more in their pockets every year. They would also gladly spend untold amounts of money to keep us safe from "them". What the heck, we can charge it against our future generations just like our ancestors have been doing to us. Its all a big decades long Ponzi scheme, and in the big picture a very bad idea. The only question is which generation will be stuck holding the bag when this pyramid collapses. Is this the generation that is willing to pay more taxes and get less from their government?
22. EVERY democrat candidate since the history of elections promises to raise taxes and democrat citizens from Sea to Shining Sea praise and adore this effort. But when George H. Bush raised taxes a "freckle" the liberal idiots went bonkers on him for lying, from him saying, "No new taxes." One error, minor as it was, ruined his entire reputation. Yet we GIVE, GIVE GIVE money to whores, drug thugs, failing school systems, failing government programs, endlessly tossing money down the toilet because liberals think throwing MORE money at something fixes it... You WAIL LIKE A COCAINE WHORE NEEDING A FIX... about Bush spending 1 trillion dollars on a war (attempting to make it sound like it was spent THIS YEAR ONLY) which you ALWAYS FAIL to admit Bill Clinton cut the military budget so much during his 8-year HIGH... That MOST the money was to GET OUR MILITARY UP TO PAR IMMEDIATELY by providing armor that was CUT FROM THE F-ING CLINTON BUDGET... Then the democrats promise a national health care system with a cost of an initial $800 BILLION DOLLARS - IN IT'S FIRST YEAR... (Hint to MBA lemmings: The government is always 40% short on their F-ing budget proposals.) Bush blew 1 trillion in 6 years and the dems propose to blow $800 Billion (for starters) on a health care system we already HAVE - that needs FIXING> EARTH TO F-ING DUMMIES!
23. Your Candidates are proposing a trillion dollars in NEW spending and New Taxes to pay for it. How it that economicly sound? We need to cut discretionairy spending to the bone marrow. When people, including the rich, have money in their pockets they spend,save or invest it.That grows the economy and creats jobs. I just bought a car. The following people will benefit, Dealer employees Bank employees Auto workers Tire makers plastics workers wiring workers truckers oil workers glass makers fabric workers and more. Each of them spend,save or invest and that touchs other peoples lives just as my purchase did. That's "trickle down",also know as Captalism. It's worked for centuries. Congress and it's spending habits is what hurts the system.
24. The gap between poor and rich is too wide today. A sound community must be more balanced. Taxes should be reduced from the poor and increased on the rich. Especially income taxes. The problem with the rich is that they become rich, make additional income through interests and will never spend the money they have because of tax reductions, so it never goes down to the poor, who could also be contributing to society. Let's talk about class issues: http://www.pbs.org/moyers/journal/02292008/watch2.html