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View Full Version : Balance the budget via new taxes.


Wrathbringer
06-05-2012, 09:52 AM
http://www.foxnews.com/politics/2011/04/18/taxes-pay-debt-unless-rates-150-percent/

This is a 2011 article, but the premise of it taking massive income tax increases to balance the budget (150% in this study) still holds. Middle class going from paying 25% to 63% in income taxes... If we actually had to pay for all these government services ourselves as we went, I'd imagine the philosophy of small government would gain popularity overnight.
Back
06-05-2012, 10:03 AM
We could also, you know, tax everyone at the same percentage, as anyone with a brain would understand as fair. It could be argued that we should tax the rich at a higher percentage than everyone else.
AnticorRifling
06-05-2012, 10:11 AM
Why would you tax them at a higher percentage? Are they using a higher percentage of the services provided?
Wrathbringer
06-05-2012, 10:19 AM
We could also, you know, tax everyone at the same percentage, as anyone with a brain would understand as fair. It could be argued that we should tax the rich at a higher percentage than everyone else.

Not having any luck locating any information on how high a flax tax rate would need to be to balance the budget alone, but I'd be surprised if it was less than 40%.
Wrathbringer
06-05-2012, 12:08 PM
As I think about this, if we did raise taxes this much to cover our yearly budget, more people would then be in need of government services to make ends meet. Then we'd have to raise taxes again to cover that increase, then more people need the assistance, then we have to raise taxes again, etc..., until we're taxing 100% and still can't meet the need for those government services. That sound about right?
Suppa Hobbit Mage
06-05-2012, 12:36 PM
It's the reason socialism doesn't work.
Parkbandit
06-05-2012, 01:45 PM
We could also, you know, tax everyone at the same percentage, as anyone with a brain would understand as fair. It could be argued that we should tax the rich at a higher percentage than everyone else.

Wait.. your first sentence says everyone should be taxed at the same percentage.. something I could get behind... but your second sentence contradicts the first.

Why don't you tell us what percentage you believe everyone should be taxed... including the rich.