@ Socalism... So your recommendation is to cut taxes and cut spending more than you cut taxes? Remember the US is already running a deficit. So if your policy is to cut taxes, (which the bailout plans to do), you will need to cut spending as follows:
spending cut >= tax cut + annual deficit
Ok, I'll play along. Where to cut? Medicare - what medicare? Defence - would be nice to get the troops out of Iraq, but what about Iran's nukes, social security? - its already not enough to retire on, why not zero that out.
America already has the smallest spending of the G7 countries (yes the rest are socialist countries). But hey, perhaps the US can be run on a dollar fifty.
I think you are dreaming, cutting spending just means you end up paying for it anyways. Not in tax but the price in goods.
It really is irrelevant, either solution could work, the key being that the US can not keep running a deficit and increasing the debt.
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@ Socalism... So your recommendation is to cut taxes and cut spending more than you cut taxes? Remember the US is already running a deficit. So if your policy is to cut taxes, (which the bailout plans to do), you will need to cut spending as follows:
Oct 01 12:12 pm
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All Comments by SeeTheLight »The Economy Won't Be Ignored [View article]
spending cut >= tax cut + annual deficit
Ok, I'll play along. Where to cut? Medicare - what medicare? Defence - would be nice to get the troops out of Iraq, but what about Iran's nukes, social security? - its already not enough to retire on, why not zero that out.
America already has the smallest spending of the G7 countries (yes the rest are socialist countries). But hey, perhaps the US can be run on a dollar fifty.
I think you are dreaming, cutting spending just means you end up paying for it anyways. Not in tax but the price in goods.
It really is irrelevant, either solution could work, the key being that the US can not keep running a deficit and increasing the debt.