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Originally Posted by joeydb
Obviously we need both jobs and very low debt. And we used to have both, so don't tell me we can't do it again if we make policy to do so.
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We are in a slow recession recovery. We need jobs. Carrying debt right now is of little consequence.
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JMS might be right. It is also true however that an economy where 47% of the people pay no income taxes is also destined to fail. The other 53% won't keep carrying the dead weight.
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People don't pay income taxes unless they have income. They need jobs to have income. The middle class is now virtually non-existent. What drove this country in the past 50 years? An upwardly-mobile, spending middle class. It's gone. Walmart's revenues are even dropping off. Not even the poor have money any more. They have been bled dry.
Look up who gave the 1.4 trillion dollars in unfunded tax cuts during the past 10 years, and look up how much income tax the top 10 biggest companies in this country paid last year. Our revenues have never been lower.
Then wonder why the Tea Party and the Republican Party are fighting 100% against any revenue increases? And decreasing spending during a slow recession recovery? (and the Dems have gone over to that dark side, too, the fools)
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More and more of them will go to the side where they can have the freebies. That will mean less people paying the bills. This is the mechanism by which the economy fails.
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Less people paying the bills is directly due to the Bush Tax Cuts. They need to expire. You agree, right? BTW, your "Tea Party" is fighting that. Completely against anybody paying more taxes. Why do you support that craziness?