Con_Alma;1163199 wrote:Interesting indeed. What's even more interesting is that even if those tax cuts expire it still won't generate enough revenue to cover or expenditures.
The whole class warfare is really a hollow and insufficient argument to anyone with a little common sense. Over the past 60 years or so, despite significant changes in tax policy and structure, the gubmit has averaged a pretty tight range collecting @18% of GDP, and rarely getting to 20-21%. Obama thinks 24% of GDP is sustainable, but truthfully the only way I see that they can get that extra 6% consistently (@ $900B currently) is with a VAT.
Truthfully a large chunk of the population doesn't care where the money comes as long as it doesn't come from them. But as Obama & Friends floor the bus toward a massive debt crisis, ultimately the poor and the middle class will suffer the most in that scenario. People with money will have already taken steps to protect their assets and wealth. You're free handout really isn't "free", you're just deferring the payment. I guess the hope is that you die before the bill comes due and don't have to suffer the pain and hardship resulting.