Try this simulator. See what happens to the debt when you make them all permanent vs letting all but the AMT patches expire.
Why is the rest of the simulator so hard when you do the former, but so easy when you do the latter?http://crfb.org/stabilizethedebt/#
Categorized | Affiliate Marketing 101
Why Was It So Easy To Drop The Debt To 55% Of Gdp By Letting Most Of The Bush Tax Cuts Expire?
Posted on May 13, 2013.
The Dow Jones is way up again.
But I make no secret what I think about this.
Wall Street will always tell people it’s different this time and bring us your money, this is real value and not some silly bubble again!
I certainly wouldn’t bet $1 000 on the stock markets not taking another severe crash before Obama finishes his second term.
I think there are systemic problems that are simply not being addressed in the world economy, and the United States has decided it would play the role of cheerleader for ideas that are very much at the source of these problems.
So of course, you know… companies doing well, people reporting money again…
Tax rates are fine. More revenue * higher percentage of revenue = a lot more cash.
(Has there been a sudden influx of value added at all levels of services and industry? I’m pretty sure not).
But you know, until people sober up, come to realize that there has to be more to life than bling imported from people who make 2 cents an hour and that letting people speculate their little hearts away is not a basic human right…
Addicts never like it when you tell them they have to cut down or they’ll die.
The problem is that it assumes all else, including revenue itself, remains constant if the tax cuts are allowed to expire.
That assumption is stupid. Then again, the sort of people who make “calculators” like these and advocate higher taxes are almost always economically illiterate.
Don’t know where you get your numbers, toots, but you’re an idiot to think debt goes away overnight.
Here, try THIS simulator, created by the Obama administration:http://www.treasurydirect.gov/NP/debt/cu…
Notice that the debt has increased $650 billion since the election.
Well, it’s an interesting site at least, but something tells me it’s not exactly scholarly evidence considering how many different views there are on economics (supply side, Keynesian, etc.).
Edit: Besides, the sole purpose of governance is not to run budget surpluses.
lol I used your calculator yesterday.Thanks for B.A. by the way.
To answer your question: Expiring Bush tax cuts would earn back 3 trillion dollars in the period of 8 years.This is huge.
This partisan hack ad brought to you “Douchebags for Democrats”, who is unemployed and pays no income tax.
You mean the middle class tax cuts that are 2/3 of the cuts?