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<blockquote data-quote="retiredone" data-source="post: 89711" data-attributes="member: 1576"><p>I agree that tax cuts will spur growth and actually increase tax revenues under certain circumstances. However, overall tax revenues have not increased in recent years...Overall tax revenues have been dramatically reduced which has created the huge deficits we are experiencing. </p><p> </p><p>I agree with your suggestion that taxes be spread out over more people. But your point touches on one of the reasons why overall tax revenues are reduced. There is a high minimum where people simply don't have to pay taxes. The rationale for these high minimum income is that these people wouldn't contribute enough tax revenue to make a significant contribution to overall tax collection. </p><p> </p><p>I believe that these folks should still pay taxes...even if the amounts are relatively small. What this would accomplish is to sensitize these folks to the need to control federal spending. Let's face it: if you don't have to pay a bill, you won't care how (or how much) money is spent. I believe that there would be more attention to spending if everyone were required to pay some fair share. </p><p> </p><p>I also agree with the idea of a balanced budget amendment. This was tried a few years ago, and WVA Senator Byrd and a few others went to the Supremes and got a favorable ruling that the proposed law gave the president too much control. I think that they are looking at another version of the law that might get by the Supremes. We need something to control spending. Right now the system works to increase spending.</p></blockquote><p></p>
[QUOTE="retiredone, post: 89711, member: 1576"] I agree that tax cuts will spur growth and actually increase tax revenues under certain circumstances. However, overall tax revenues have not increased in recent years...Overall tax revenues have been dramatically reduced which has created the huge deficits we are experiencing. I agree with your suggestion that taxes be spread out over more people. But your point touches on one of the reasons why overall tax revenues are reduced. There is a high minimum where people simply don't have to pay taxes. The rationale for these high minimum income is that these people wouldn't contribute enough tax revenue to make a significant contribution to overall tax collection. I believe that these folks should still pay taxes...even if the amounts are relatively small. What this would accomplish is to sensitize these folks to the need to control federal spending. Let's face it: if you don't have to pay a bill, you won't care how (or how much) money is spent. I believe that there would be more attention to spending if everyone were required to pay some fair share. I also agree with the idea of a balanced budget amendment. This was tried a few years ago, and WVA Senator Byrd and a few others went to the Supremes and got a favorable ruling that the proposed law gave the president too much control. I think that they are looking at another version of the law that might get by the Supremes. We need something to control spending. Right now the system works to increase spending. [/QUOTE]
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