StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



23 Polls Say People Support Higher Taxes to Reduce the Deficit

10 Aug 2011
Posted by Bruce Bartlett

 

Can/Should the Budget Deficit Be Reduced with Spending Cuts Alone or Should There Be Some Increase in Taxes?
Poll
Date
Some/All Taxes
No Taxes/All Spending
8-10
66
33
8-10
63
36
8-9
68
29
8-4
63
34
8-2
60
40
7-26
68
19
7-25
56
34
7-21
64
34
7-19
66
32
7-19
62
27
7-18
69
28
7-14
67
25
7-13
73
20
6-9
61
37
6-9
59
26
5-13
64
33
5-12
61
27
4-29
76
20
4-25
62
33
4-22
66
19
4-20
62
36
3-15
67
31
12-12
62
36
Average
8-10
65
30

Huh?

US federal revenue, adjusted for inflation and population growth, went UP in the 2000s. Just like it went UP in the 1990s - faster after Clinton cut the long term capital gains tax rate than before. Just like it went UP in the 1980s.

We do not have a revenue problem. Average annual revenue per capita, in inflation-adjusted dollars more than doubled between the 1950s and the 2000s.

The problem is that average annual federal spending, in the same terms, almost tripled.

And what did we spend it on? Teachers? Firemen? Bridges? No - wars. Vietnam. The War on Drugs. The War on Poverty. The Cold War. Iraq. Afghanistan. And now Libya, Yemen and anywhere else there are "extremists" or "democratic uprisings." Only one of those wars involved a long-term threat to the US - the one that we won.

The "beast" is definitely a beast - but the notion that it is "starving" is an outright lie. Revenue went UP this whole time.

Do you know where revenue has gone down recently?

The UK

The same UK that reached a "balanced" budget reform involving "tax hikes" - - there IS a point at which raising tax rates REDUCES tax revenue. The UK is at that point - - adjusted for inflation, revenue went DOWN when the UK raised tax rates.

As for polls on economic issues, this is absurd. Why? Because most people have no basic understanding of economic issues. You might as well take a poll of all people residing between 1st and 5th Avenues between 75th and 80th Streets, with the question being "how should the surgeon on duty at Lenox Hill hospital proceed with his next heart surgery."


I agree with Mr. Bartlett. I

I agree with Mr. Bartlett. I fully support raising taxes. (Just so long as my taxes won't increase, that is.)


Patrick T, thanks for scaring

Patrick T, thanks for scaring us with your endless, and endlessly boring, story about America's wealthy planning to up and leave for ... hmmm, you seem to have forgotten to tell us where they're moving. But never mind, we're sure your right. Actually, I'm one of them, and I'm electing to stay, but I'm sure you're right that all my friends will emigrate to Belgium or Hong Kong soon. Except that ... they stayed right here even when marginal rates were 70%... oops.

You state that the polls have no value because people are ignorant. Does anyone reading this page doubt that Patrick T was touting polls opposed to the health care law when such polls showed a majority opposed to it, supporting his view, which is undoubtedly that the uninsured could go &%$!* themselves?

You are a distorter of information. For example, mentioning Clinton's lower capital gains tax in 1997 as the cause of higher revenue, while conveniently omitting his raising of federal taxes in 1993. I think that most people are weary of fact-twisters like that. They are literally everywhere on FOX News. It just brings us all down, and reasonable, serious people are tired of it. That you would attempt it on these pages speaks to your boundless audacity.


I wish I knew more about

I wish I knew more about that, and intend to study up on it. But the fact does cause me a certain uneasiness precisely because it gives the dollar a signal status other than simply a means of buying something from America. I do know that inflation was very tame during the "gold standard" years from shortly after the Civil War to about 1913. Whether that's practical in today's world, I couldn't possibly know. But since the U.S. just recently became the No. 2 producer of gold after South Africa, one has to wonder whether returning to the gold standard would be all that terrible for the U.S. It is impossible, though, for me to imagine managing these huge deficits if that was the case.


Nice but only one side of the story

Noticed that the two columns are "Some/All Taxes" "No Taxes/All Spending" which means yes that the majority of Americans polled want some tax increases but it doesn't tell us how many of those polled want also spending cuts. It would have better to make 3 columns "No Spending Cuts/All Taxes" "Some Taxes/Some Cuts" "No Taxes/All Cuts" but that would kind of go against the message that the writer wanted to present. He wants us to think that the majority of Americans support raising taxes versus cutting spending when it may be something else entirely.


Then lets have a flat tax.

Then lets have a flat tax. Everyone regardless of wealth pays the same percentage of tax. No loopholes just fairness.

I may be working class but I still put in a full work week to support my family, pay taxes the same as everyone else. There is no fair reason for someone who makes alot more than I do to pay less percentage in taxes. It's not redistribution of weatlh if everyone is paying the same percentage on their taxes. You pay the same percent of your paycheck as I do and live off that. And don't feed me a line of crap about "job creators" cause the only jobs big business are creating are overseas. We wouldnt be having this discussion if all the good paying manufacuring jobs had stayed in this country and a working man was able to make a decent wage. Those kinds of jobs created the middle class in thie country. Now due to unfair trade agreements and "global economy" (buzzword -for corporate greed) those jobs are long gone and the American economy is suffering due to the pain on the middle class and (lowering state of the lower middle class). The Republican philisophy spewed above is very self centered and elitist. In other words we are superior to everyone else and no else matters. let the poor starve, the uneducated remain ignorant, the elderly die. I have heard that before; "Are there not prisons, are there not workhouses? Then let them die and decrease the surplus population!" Oh yeah, it was Mr. Scrooge. He must have been a Republican until he was visited by the spirits and then he became a human being, e.g. a Democrat.


tax increases

Ask the folks if they want THEIR taxes raised to reduce the deficit.




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