Taxes, the economy, spending, etc… Is all a huge complex problem to be sure. A few things to note here… first… Clinton didn’t balance the budget, it was the Republican Congress at the time. Remember the democrats were thrown out two years into the Clinton Administration after the biggest tax hike in history, which was clearly unconstitutional since it was retroactive… I recall in the Constitution Art.I Sc.9 that “No bill of Attainder or ex post facto Law shall be passed.” (after the fact). Read the Constitution, budgets and fiscal direction are set by Congress, not the President. Second, when you hear the baloney about “oil company profits”… they tend to leave out that little nugget that the profits announced are WORLDWIDE!! Not within the US. roughly 15% of that big number accounts for US profits. In addition, those profits generally run about 8-10% of their gross revenue… by my reckoning and many others, that would be “piss-poor” performance in any other sector… but Pelosi, Reed, et. al. won’t tell you that one.

Somehow people are under the impression that Gov’t is a bottomless pit of money and by its spending its boosting the economy. That money has to come from somewhere, if not printing it. Its not just fiscal tax policy that boosts the economy, its also the message and perception. Reagan spoke highly of America, whereas Carter was a always complaining how bad things were. No one wants to hear that. We need a president who has a fierce love for this country, and a brass pair that clang when he walks down the hall… and at that very sound, Congressmen and Senators lose control of themselves at the sound… hmmm… kinda like what happens when Reid and Pelosi hear Anne Coulter! LOL Food for thought…

The Clinton’s also have a long history of paying the minimum possible. Anyone else remember the used underwear as a charitable donation?

The Republicans like to tell people what they want to hear so that they can get re-elected, even if it means hurting the long term health of our economy or our environment.

Here’s a fact my Corporate Finance taught us: the U.S. stock market has historically done better under Democratic presidents than during Republican presidents. So, increased taxes may be a good thing. It’s necessary today and the top 1% have a lot more of a cushion to support our economy. Since they have benefited from it so much already, it makes sense that they should take on more of the burden. One other issue is that the more you have, the more tax loopholes you have access to. Bill Gates and Warren Buffett agree that they don’t pay enough tax. I’m upper middle class, and I’d pay a bit more in taxes, but, ironically, under either McCain or Obama, I’d get about the same tax cut.

UH2L
http://www.thingsivenoticed.com

First and foremost, spending is out of control, and entitlement programs need to be reigned in. Taxes may need to be raised, but it should be somewhat across the board (I don’t think anyone should pay nothing or have a negative tax rate). The rich (of which I’m NOT, unless you’re a democrat class warfare mongerer) already pay something a huge amount of all personal income taxes, and more then that if you include the double taxation of corps, while being what, 1% of the population? I guess the question is how much of a percentage of overall taxes should this group pay, 50%, 75%? Where does it stop?

It’s like saying that it’s unhealthy to move from a small home to a large home because it doubles your monthly mortgage payment. You’re ignoring all of the other factors that may have made it an ideal decision!

The economy is not a pie, it’s more like a river. With meandering turns and highs and lows. The job of Americans is to stay afloat. The job of our government is to remove the obstacles. That doesn’t mean necessarily cutting the debt, though.

In the past 12 years that I have been preparing tax returns for people the credits have increased the rates have decreased, and we have seen what that has done to the deficit.

It never make sense to spend more than you take in. But sometimes you have to for emerencies. Like World War 2.

War in the time of the Romans was profitable, not anymore.