Cenk's 'Shared Sacrifice' Tax Plan (W/ Poll) | 48 comments (48 topical, 0 hidden)
Overly detailed? (none / 0)
I thought it was pretty bare bones, and I don't say that in a bad way. It's just a temporary increase for the top tax brackets.

by Tom Hanc on 03/26/2009 11:00:46 PM EST

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Yes overly detailed (none / 0)

Yes overly detailed.  The point of putting actual numbers on a proposal like this would be to calculate how much revenue you would raise theoretically.  Or to make it sound neat with the 5-5-5 thing.  Okay, it sounds catchy, I guess that's the whole point. 

Anyway, raising taxes this much during a recession is crazier than Ron Paul.  We can't implement Obama's agenda, stimulate or way out of the depression, and balance the budget all at the same time.  Can't play with it.  Can't win with it.  Can't do it.

I consider myself a fiscal conservative.  Just like Cenk I used to be a Republican until they went crazy.  But we've got to stop hemming and hawing over running deficits right now.

by publius on 03/27/2009 02:46:41 PM EST

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Read below in this thread (none / 0)
We raised taxes during a depression and fought WWII, and ultimately ended up with the greatest period of econmic prosperity for the middle class in this country's history.

Balancing the budget should be our last concern *at this point in time*, even if it makes perfect sense and should be a high priority at other times.

It's not about fiscal conservative or liberal or whatever, it's about history.

by Tom Hanc on 03/27/2009 05:09:30 PM EST

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Tom (none / 0)

I read your response, and read down below, and I'm confused about where you stand.  The thing that FDR did during the depression, that economists today--such as Ben Bernanke--give him credit for, is deficit spending.  As you mention below when FDR backed off, listened to Republicans of the day, and tried to balance the budget by raising taxes, the economy softened again in 1937.

My whole point has been that we should put off tax cuts for now. 

by publius on 03/28/2009 12:37:42 PM EST

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No, no, no (none / 0)
Yes he raised taxes, and obviously the Republicans back then HATED tax increases! Their big plan as always was cutting everything. I agree that raising taxes and doing nothing else would be very stupid. But that's not what happened.

Taxes were raised AND spending decreased, the same spending that was lifting the economy up and reducing unemployment significantly. That was my point earlier, the last thing we need to worry about *right now* is balancing the budget. That mentality is what delayed us in 1931-1938, trying to appease R's and "centrists" by focusing too much on balancing the books.

PS---Never forget that the Great Depression was directly preceded by 5 consecutive tax cuts (and 3 Republican Presidents promoting Deregulation---Harding, Coolidge & Hoover).

And it led to (surprise)

by Tom Hanc on 03/28/2009 12:56:47 PM EST

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Obviously I meant 1937-1938 (none / 0)
.

by Tom Hanc on 03/28/2009 12:59:56 PM EST

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Cenk's 'Shared Sacrifice' Tax Plan (W/ Poll) | 48 comments (48 topical, 0 hidden)