Quote:
Originally Posted by RIJIMMY
Bryan, its all business 101. If a lowly URI business graduate like me gets it, they need to as well!
There is no budget for 2011 is there? If no, you cant say that the tax cuts cost us anything! Tax = Revenue. A budget should be Revenue - expenses = surplus or defecit.
So if the tax rates are extended - Revenue is relatively fixed....on the BOTTOM end. Market goes up, businesses do well, etc....we can take in more revenue.
So all this talk that were funding tax breaks with the defecit is foolish. We need to greatly reduce spending and get this country making money. I know you know this, but just restating.
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I agree with this, however, show me how the cutting is being accomplished from either side of the aisle right now? It certainly didn't happen under the last administration with unfunded wars and lower taxes....
It is also a good thing to remember, that even without the Bush tax cuts, we are way below historic tax levels.... what was the percentage post WWII? Was it higher than today (to pay for the War???)