How can People sit under a Debt clock, And act like They can fix it with a tax cut to millionaires?
Its imports closing our factory, and many of those imports are Americans Millionaire building overseas and shipping into the USA to sell. To stop this we need import taxes, and Quit the tax break to those hurting our jobs and economy. And we certainly don't need for our tax payer to pay for wars, that have nothing to do with the Defense of our Country.
- Don MLv 79 years agoFavorite Answer
Tax cuts increase economic activity, and bring more revenue to the government. That's not a theory, that's a proven fact. President Reagan's tax cuts (which were not just for millionaires, they were for all income taxpayers) resulted in 21 consecutive quarters of economic growth, and revenue to the treasury almost doubled.
When Clinton signed off on reducing capital gains taxes, the economy began to grow, and capital gains tax revenue increased.
President Bush's tax cuts had a similar effect until the sub prime housing meltdown hit.
You stumbled on the truth, except we should cut all income tax rates, not just those for millionaires. But the increased revenue will not solve the problem; spending must also be cut.
- KC V ™Lv 79 years ago
Just goes to show you how stupid some people are. Those who listen to some of the political rhetoric are responsible for voting for those who say they can fix it but haven't done so for the past four years.
This is the issue with the upcoming election. Obama wants to spend more and Romney wants to spend less.
Romney gets the vote from those who want to see our economy grow thereby bringing more money from the top down while Obama wants to spend tax dollars in the form of a "stimulus" to spark the economy.
Nothing will change until we get more business going.Source(s): PO
- writer's blockLv 49 years ago
At least they will try--Obama didn't, he just added to the debt astronomically.
His nice speeches don't add up; take a ticket and get on the reality train.
- Iron_PlagueLv 79 years ago
Clinton signed NAFTA, CAFTA and the U.S. - China trade agreement.
Obama has extended the "Bush tax cuts" every time it has gone in front of him.
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- ?Lv 49 years ago
Sadly there is no fixing this economy. 40 years ago? Maybe. But now there is no turning back. The economic collapse is inevitable.
- BarbwiredLv 79 years ago
It's not about a tax cut for them. It's about not raping them for every penny the greedy left can suck dry from them.
- Anonymous9 years ago
Actually, the taxes avoided by the rich could pay off our deficit more than once.