Standing against big government and for the people!

Democrat Debt Solutions: Tax the Rich, Spend More Money

As the national debt finally passes the $16 trillion mark, are Democrats serious about addressing deficit spending?

Several Democratic delegates and supporters that Reason TV spoke with at the 2012 Democratic National Convention said that Democrats care deeply about the debt, but when it came to offering solutions, they said that serious reductions in government spending would actually be counterproductice. Instead, many suggested increasing public works spending to stimulate job growth, despite the fact that President Obama's first stimulus still hasn't moved the economy above 8 percent unemployment.

They also defended Obama's proposal to raise taxes on anyone earning more than $200,000 a year, even though this won't even come close to closing the annual budget deficit.

Rating:

Currently 5/5 stars.
1
2
3
4
5

Get Embed Code

Tags: 16-trillion, debt, deficit-spending, democrats, election, More…government, obama

Comment

You need to be a member of Patriot Action Network to add comments!

Join Patriot Action Network

Comment by Demetri Sarinopoulos on September 10, 2012 at 12:05pm

I graduated from HS in 1957. I remember the Dem party shouting then:TAX THE RICH! As a low income person, I thought What a GREAT IDEA! In 1964 I quit the Demorat Party and became a Barry Goldwater Republican. Somehow, we must design something that shows the same old Dem BS is just that:BS. Rich had a great chart but we need to put it in Bubba's lingo and/or Ebonics:

Percentiles Ranked by yo adjusted money you got	Yo money whar it starts getting ripped off	Percentage of Federal Personal Income Tax you ripped off
Top 1% fat cats*	$343,927	36.73 per cent
Top 5% fat cats	$154,643	58.66
Top 10% fat cats	$112,124	70.47
Top 25% fat cat	$66,193	87.30
Top 50% Fat cats	$32,396	97.75
Bottom 50%, US po folks	<$32,396	2.25
Note: AGI is Adjusted Gross Income Source: Internal Revenue Service * This percentage is misleading. Consider yo earn 1000000000 potatoes, yo pay about 37% of that which is a lot mo taters than 50% of a lot less taters. Got it? That just ain;t that many folks up that in da top!!!

http://ntu.org/tax-basics/who-pays-income-taxes.html

Though obama has admitted it ONCE, . . Taxing the Rich will Retard and/or Stop Economic Growth.

Comment by Bill Blevins on September 8, 2012 at 5:45am: I keep hearing Obummer say he didn’t know how big the mess things were in when he ran for office in 2004. This tells me he was too dumb to run or get elected. I would bet the farm Mitt knows just how big the mess is and how to fix it

Comment by Debrajoe Smith-Beatty on September 7, 2012 at 7:45pm: Phil I share your dream.

Comment by Phil McConathy on September 7, 2012 at 3:33pm: My dream matches R. Ray Morford's. To wake up on November 7th and hear the sweet words of President elect Mitt Romney and VP-elect Paul Ryan. That would make me extremely happy. It would restore my faith in the American people.

Comment by R. Ray Morford on September 7, 2012 at 1:23pm: I HAVE A DREAM. OBAMA AND HIS CHICAGO THUGS ARE BEING SENT BACK TO CHICAGO....THE MURDER CAPITAL OF AMERICA. I'M SURE IT WASN'T A NIGHTMARE.

Comment by Doomsday Boy on September 7, 2012 at 1:13pm: Absentee ballots are being mailed out at the end of the month. I can't wait. I have never been so energized to cast my vote!! I am JAZZED!! And I believe I'll have plenty of company with other conservatives. Despite the absentee ballot I'd crawl to the poling place with a broken leg and an open head wound. GO MITT AND PAUL!!

Comment by Joseph A. Vargas on September 7, 2012 at 12:16pm: Fair share to me would be that the poor pony up 10% of their income to help shore-up the deficit. They are Americans too, they use the roads, they are protected by the police and by our military. That would be "fair"!

Comment by Jennifer M on September 7, 2012 at 11:23am: I am disable and my AGI is less then $7000 a year. I get a earned income credit for which I give back to the government. I dont feel I should get anything back so I give the $400 credit back.

Comment by Rich Knoch on September 7, 2012 at 9:56am

Percentiles Ranked by AGI	AGI Threshold on Percentiles	Percentage of Federal Personal Income Tax Paid
Top 1%	$343,927	36.73
Top 5%	$154,643	58.66
Top 10%	$112,124	70.47
Top 25%	$66,193	87.30
Top 50%	$32,396	97.75
Bottom 50%	<$32,396	2.25
Note: AGI is Adjusted Gross Income Source: Internal Revenue Service

http://ntu.org/tax-basics/who-pays-income-taxes.html

Though obama has admitted it ONCE, . . Taxing the Rich will Retard and/or Stop Economic Growth.

If the bottom 50% of taxpayers paid $1,000 per year in income taxes it would raise around $50 Billion a year in taxes and they would then have a vested interest in the future of the nation.

[This is equivalent to 5 packs of cigarettes, OR 4 fast food meals, OR a bottle of wine, a week]

This would translate to (it seems the Feds always talk in 10 year increments) 1//2 Trillion new tax dollars over a decade.

These folks might have incentive to get a job and work along with the 50% who have been supporting them.

Comment by Jack Vier on September 7, 2012 at 8:43am: Let me get this right the Dumocrats want to spend more then is taken in and this will balance the budget. I am not the sharpest pencil in the box but even I know that will not work.

I believe that the nut cases on the left have 2 brains on the size of a mustard seed and the other one is small.