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View Diary: "Guiding assumptions" of American governance (171 comments)

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  •  If you take your hard-earned money.. (0+ / 0-)

    ... and lend it to someone.. the interest you collect is most certainly earned. It's the fruit of your labor being put to use.

    We'll skip the debate about how taxing capitol-gains effects investment and job creation.. it's too ideological.

    As for raising taxes on those who can afford it ? The percentage people earning over 250K is relatively small... and the MEGA rich are a ridiculously small percentage of the population..  If we push much past the share of the tax burden they bear now.. they'll just not do what it takes to earn that much. And even if we got desperate enough to impose a huge personal wealth tax on those with huge portfolios.. it's even worse. Much of those portfolios make up the bulk of corporate assets (equities). Not only can you only do that ONCE (nobody would rebuild it again only to see it taken).. it wouldn't put but a dent in the deficit, and not even scratch the debt... NOT to mention the damage it would to to the stock market.

    There's no straw-man argument here... I'm just pointing out that at $38,000 per household.. our government is too large.

    •  Where do you get that figure? (1+ / 0-)
      Recommended by:
      JeffW

      $38,000 per household.

      If that's the total pro rata Federal Debt, you need to remember that it doesn't need to be paid all in one year.  It's like a mortgage, it gets paid off over time (or is supposed to be).  

      The big excuse for Shrub's tax cuts was that our nation was in danger of paying off our entire national debt! That for some reason wasn't a good idea.  This was after Clinton left office with a booming economy and a budget surplus, only about ten years ago.  To pay down the national debt, we need a healthy economy.  For that we need more government, to regulate the markets so that people can be confident that they aren't being cheated or conned.  People need jobs and if private companies won't hire, there's plenty of work that the government could hire them to do for a year or three.  As the temporary government workers' spending spread through the economy, private companies would feel the need to hire workers away from the government jobs.

      Renewable energy brings national security.

      by Calamity Jean on Thu Sep 02, 2010 at 02:10:49 PM PDT

      [ Parent ]

      •  No.. not the debt.. (0+ / 0-)

        You're misunderstanding my point.

        THAT $38,000 is just the federal budget, for just this year,  per household....  

        The debt is nearing $150,000 per household (15 trillion / 100 million).. that's a whole other discussion.

        And it's not like a mortgage. A mortgage starts out a a maximum amount with a carved in stone pay-down schedule, and is secured by the house.

        Our debt is more like credit card debt.. it's accumulated spending (and it continues to grow).

        In conclusion.. per my point.. are you too going say that at $38,000 per household, the federal government is not yet big enough.. ? That we can function when we pay 60% of what we earn for JUST the feds.. we aren't even factoring state/local government costs yet.

      •  sorry... (0+ / 0-)

        ..I got the $38,000 figure by dividing the current budget ($3,800,000,000,000)  into the number of households  (~100,000,000)

        3,800,000,000,000/100,000,000 = 38,000

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