Barney Frank: Raise Taxes!
Democratic U.S. Representative Barney Frank explained for CNBC that the next president, Barack Obama of course, will have to spend bigtime on social programs, and he said he believed that increase in spending could be covered partially be raising taxes on later on.
“I think there are some very rich people out there whom we can tax at a point down the road and recover some of this money.”
Democrats are already announcing their plans for the coming years:
1. “Spread the wealth around”
2. Increase spending significantly
3. “Deficit fear” has to take a backseat
4. Those with higher incomes will be taxes (to death and beyond)
At this moment, it seems that a majority of American voters support such grand plans. Perhaps because increasing the deficit means that their children and grand children will have to suffer, not they. Another reason could be that ’spreading the wealth around’ sounds very good to those who think they will be its beneficiaries. Thirdly, one could argue that conservatives aren’t explaining why fiscal conservatives provides better solutions than fiscal progressivism (or liberalism), as is clearly what Democrats propose.
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I think all Americans should pay more taxes, not just the rich. How can we continue to run our country into deficit and debt without raising taxes? Obviously, borrowing money and printing more money is not the answer. If people had their taxes raised and were told why they were raised…maybe they wouldn’t have such high opinions on things they think are free. Wars cost money..lots of it..but send someone a bill for it and see how quickly they change their views. If we all got a detailed tax bill (hypothetically) specifying that X went to the wars in Iraq, Y went to the Wall St. bailout, Z went to social services..we may be able to make better decisions on who we vote into office. The cry from everyone is “Freedom is not Free”.. but they’re usually referring to paying for freedom with blood (someone elses) and not money. Send everyone a detailed bill and see who loses their jobs.
Hey, I have an idea!
Let’s really spread the wealth around and make being a federally elected official volunteer work. All those who believe in spreading the wealth around should set the example.
Then, let’s take the money used to pay the salaries, health benefits, and fund their pension/retirement plans and re-distribute it to our citizenry. I would be happy to vote for any candidate who proposed such an economic re-distribution plan to appease their conscience.
Sorry Joe Biden, you just lost the title of “gaffemeister.”
Because yours pale in comparison to Barney Frank’s.
If Congress sets tax rates too unfairly, even more Americans will refuse to pay income taxes. Also, consumers unfortunately will need to continue spending, even after the credit markets regain confidence.
Bob A – how much over and above what you owe – have you sent into the IRS?
People fall for Obama’s 95% tax cut meme just like they fall for Democrats being for the people. And meme’s both neglect history. But it’s a nice sound bite, and that’s what is catchy
Interested.. I’m self employed and pay everything I’m required too. Trust me.. I pay on time, and its quite a bit. Between Fed, State and local taxes, I payed @ $5,300 last quarter..and only drew $11k for the same period.