What is the purpose of raising taxes?

Ask me what I believe if you want to know. I would be happy to tell you. With me, assumptions are not necessary. :blush:

Oh really ?

Would it have been better if I said, nothing has slowed it down in any effective way?

It’s like loosing a football game 48 to nothing vs 45 to nothing. Does it really matter?

I think the point here is that you mentioning the debt hasn’t slowed down indicates that you do in fact care that the debt has not slowed down.

But again, I’ll ask - using your logic in teh OP, maybe we should cut out all taxes altogether since really, what’s it matter? Debt is always going up and is a huge number already.

Yes, that might have been better. Still, increase of 1,048% vs. 32 or less % is quite a substantial difference. Btw, isn’t it interesting how one guy you don’t see listed in the top 10 above is LBJ ? :flushed:

So, to answer your primary question - tax hikes are good if they help pay for necessary spending or pay down the debt. If they’re used for nonsense, then not so much.

No. We should devope a strategy to reduce the national debt. But parties have failed to do this. Don’t over think this. Are you catching on yet? :man_shrugging:

We have seen administrations be successful in lowers the deficit which is the first step to lowering the debt. Why don’t we build on their past successes?

I did ask you…I said tell me where I am incorrect.

You know I asked this because you cut it out of your response to my post.

Build on it in what way? The national debt has not gone down at all. How would you build on it? Any examples?

When Obama and the gop decreased the deficit. That is the first step to decreasing the debt. Why not continue on their strategy if your goal is to decrease debt?

Incorrect about me? I’m not going to worry about that. I will just say that I have not seen a national debt reduction plan in decades. I have only seen tax increase plans. We can’t do this through tax increases. You and I don’t have enough money.

Because you can’t reduce the debt by taxing our way out. We don’t have enough money to do that. We need a real plan. Neither party is offering a plan that will bring the debt down by a single penny. Now or any time in the future. Do you have any ideas?

How did Obama and the gop reduce the deficit? You realize that that is the first step right?

You won’t get him to admit it. I’ve tried many threads. The first step is reducing the deficit. They can’t admit that both Clinton and Obama did massively before cons ruined it all again

Sure you can. It’ll just be somewhat painful and won’t happen overnight.

Think about it - if you have debt to credit card companies and you want to pay it down, you’ll want to allocate a certain percentage of your income to do that, won’t you ?

Raising revenue helps cut down the deficit as does targeted spending cuts. This is BASIC finance weird how “fiscal cons” don’t get it.

We can start by putting taxes back to where they were before Trump blew up the deficit ($1trillion BEFORE COVID-19) and cutting military spending and taxing stock transactions

Reducing the national debt implies there is a good reason for the national debt to be reduced…i.e.e we have to run surpluses year after year.

Out of 250 years of history, we can count a handful of years where this country ran an annual surplus…and yet we still became the greatest economic power the world has ever known.

It’s not the amount of debt that makes it bad…it’s the amount relative to the GDP of the nation.

We’ll never pay down the national debt. It’s not in the best interest of the nation to do so.

The nations finances don’t work like yours.

Works for me, everyone would pay their tax in the form of inflation caused by printing the money. Much fairer system than we have now.

the more money you have, the more you can do

the less money you have, the less you can do…

freedom?

obama and the GOP led congress has a debt reduction plan just a few years ago. And it was working, even during a period of slow and steady recovery from eh worst financial collapse since teh great depression.