We don't have a deficit problem, we have a security state & revenue problem. nt

[grahamhgreen]

[Gravitycollapse]

1. No, we definitely have a deficit problem.

By that I mean we literally have a huge deficit that is a serious problem.

[JoeBlowToo]

2. And the solution is collecting revenue...

The tax burden facing Americans is lower than it has been in more than 50 years, according to an analysis by USA Today.


Bureau of Economic Analysis data shows that Americans are now paying 23.6 percent of their income to cover federal, state and local taxes. In the 1970s through 1990s, they were paying about 27 percent of their income in taxes.


Taxing at that rate today, USA Today reports, "would mean $500 billion of extra taxes annually today, one-third of the estimated $1.5 trillion federal deficit this year."

http://www.cbsnews.com/8301-503544_162-20060440-503544.html

Not enough? Try these--

[el_bryanto]

3. Beyond what the other poster has said

There is a difference between a big problem and a big immediate problem. The immediate problem right now is that our economy is sluggish at best and unemployment is high. Overly focusing on the budget is likely to make those problems worse!

Bryant

[drm604]

4. Exactly.

Republicans refuse to get this. It's much easier to pay the bills in a healthy economy. A healthy economy means that money is being spent. Unemployed people don't have money to spend.

[RC]

5. The job of the government during a rescission IS to spend money.

That money is what gets the economy going again. The government currently is NOT spending money the way they should, citing a lack of revenue cause by the recession they are prolonging by baling out big money banks and Wall Street, instead of the local banks and Main Street.
But somehow they can cut taxes and still have plenty of money for war and war toys.

[grahamhgreen]

6. That's the way the R's would frame it. Truth is increasing revenues end the deficit.

A Greatest Generation tax rate on those that can afford it would end the debt and deficit in 10 years.