Quote:
Originally Posted by zimmy
What were the tax rates back then? They must have been really low, right?  |
Taxes were high then. And what did Reagan do? All he did was contribute significantly to the collapse of the Soviet Union, giving hundreds of millions of human beings a shot at freedom.
Lots of folks consider that money well spent.
Obama is spending more than Reagan did, with far less to show. When kids as-yet unborn enter the workplace 25 years from now and face staggering income tax rates, we're going to tell them that Obama spent their money to get unemployment (25 years earlier) down from 9% to 8%. Is that money well spent?
Maybe yes and maybe no. Time will tell.
Zimmy and Spence, how much debt are you comfortable with saddling on the backs of kids not born yet? Obviously there was lots of debt before Obama got elected, it's not all his fault. But he is adding to it more than any president in our history. I'd just liek to know how much debt you're willing to saddle future generations with.
Our current debt is around $15 trillion, and that excludes asocial security and medicare. Throw those in, and the debt is at least $60 trillion. That's $200,000 for every living American. $200,000 on top of what our current tax rates will generate.
Obviously, we cannot take an additional $200,000 from every American, not even close. That means one of two things. Either (1) the Chinese will tell us not to bother re-paying them, or (2) future generation will be burdened with debt they had lkiterally no say in accumulating.
Zimmy and Spence, what do you think?