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How Much Extra Money Will Raising Taxes On The Wealthy Bring In?

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#1 ransack

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Posted 09 September 2012 - 04:01 PM

I'm actually curious to know? Does it really amount to much or is it just another political ploy to blame the rich and not the politicians who drove us into the ditch? If it's going to make a real difference then I'm game for it otherwise the politicians need to STFU.

#2 Rambler

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Posted 09 September 2012 - 04:03 PM

Its not about bringing in enough money because it`s not enough to balance the budget. Its about "what`s fair" and social justice in some eyes. You know, the code words.

#3 kicker

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Posted 09 September 2012 - 09:05 PM

Between 50-60 billion a year.  Roughly 5% of the current budget deficit.

#4 Deisel

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Posted 10 September 2012 - 09:30 AM

View Postkicker, on 09 September 2012 - 09:05 PM, said:

Between 50-60 billion a year.  Roughly 5% of the current budget deficit.
What abt a balanced Budget amendment? $50 billion doesnt even pay the Chinese for the money we borrowed from them, per year.

#5 lostone

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Posted 10 September 2012 - 08:29 PM

View PostDeisel, on 10 September 2012 - 09:30 AM, said:


What abt a balanced Budget amendment? $50 billion doesnt even pay the Chinese for the money we borrowed from them, per year.
Don't know why I try, but... So how do we cut the big three without putting ourselves directly into a recession or perhaps a depression?  Or do we only gut social spending and no military.

#6 GEORGlAfan

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Posted 10 September 2012 - 08:31 PM

We need the military. how else can we start wars with tiny countries that do nothing to us?

#7 The Legendary SB

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Posted 10 September 2012 - 09:07 PM

So you guys would gut the military?  Unfortunately war is an undeniable part of humanity.  Some wars are necessary, some are not.  Those that think that they don't have to worry about it and that the world is safe get raped, pillaged, and conquered.  It's a recurring theme in any history book.  

The military is one of the only things the government is constitutionally provisioned to do.  If you think it should be used for defense only, that's fine.  But that would still require a large military for a country of this size and power.

#8 The Legendary SB

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Posted 10 September 2012 - 09:09 PM

View Postlostone, on 10 September 2012 - 08:29 PM, said:

Don't know why I try, but... So how do we cut the big three without putting ourselves directly into a recession or perhaps a depression?  Or do we only gut social spending and no military.

I believe Paul Ryan had a plan to get to some kind of fiscal sanity when he headed the house budget committee.  Yes a lot of changes would need to be made for us to be financially solvent for future generations.

#9 Rambler

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Posted 11 September 2012 - 05:26 AM

View PostGEORGlAfan, on 10 September 2012 - 08:31 PM, said:

We need the military. how else can we start wars with tiny countries that do nothing to us?
The military is about much more than starting wars in tiny countries. Ask Andrews 31 about the opportunities Defense spending gives to minorities and women, the good paying jobs it provides millions of people and the peace of mind that comes along with having the greatest military on earth. You anti-defense spending hawks really are oblivious to the dominoes that will fall if you are allowed to gut our military.

#10 falcondust

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Posted 11 September 2012 - 05:33 AM

Hey everybody it's 9/11! take time to remember all those dead soldiers and civilians  that George Bush killed since he was behind the whole thing.

#11 Garrow69

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Posted 11 September 2012 - 07:31 AM

y not just tax religion?

#12 Flip Flop

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Posted 11 September 2012 - 08:54 AM

View Postlostone, on 10 September 2012 - 08:29 PM, said:

Don't know why I try, but... So how do we cut the big three without putting ourselves directly into a recession or perhaps a depression?  Or do we only gut social spending and no military.
Cut spending.  Start with 10% across the board.  Anyone who cant squeeze 10% out of their budget needs to find another job.  Then address agencies on a case by case basis.  Eliminate the absurd amount of redundant spending programs.  Washington is not serious about solving their deficit problems.  They are just waiting for the economy to rev up again so that they can continue to kick the can down the road.

#13 GEORGlAfan

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Posted 11 September 2012 - 06:55 PM

Agree with garrow. Get rid of the Religious tax exemption.(If they are truly nonprofit, then they can keep it under nonprofit clause, but these megachurches are definitely trying to profit from the word of god, and do not deserve tax free money)

Also End War on drugs( especially Pot). It is a waste of money. It would be swing from costing billions to us making billions. Also would cut down on crime, since illegal drugs are what keep the cartels running.

Cut Defense spending. According to this article, we could save over 688billion( from 2013 to 2022) from the defense budget, and even with these savings, we would be at the 2007 spending budget for the DoD, which is when we were still in Iraq and Afiganistan.

http://www.pogo.org/...se-savings.html

Let the bush tax cuts expire, close all loop holes.( or adopt a new tax code similar to paul ryan without the no capital gains tax.)