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Thread: Two countries-Same pitfalls?

  1. #11
    Senior Member road kill's Avatar
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    Quote Originally Posted by YardleyLabs View Post
    Unfortunately, Reagan not only cut taxes but increased spending dramatically resulting in a massive deficit and the largest growth in the national debt since WWII. He was very popular, but that is not to hard when you buy happiness by maxing out yur credit cards.
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  2. #12
    Senior Member Gerry Clinchy's Avatar
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    Today's leaders seem to govern by polls...a sure road to the proverbial dog's breakfast where no one will end up happy.
    Now that's a very interesting discussion point!

    Unfortunately, Reagan not only cut taxes but increased spending dramatically resulting in a massive deficit and the largest growth in the national debt since WWII.
    Unfortunately, he didn't "save" the increased revenue, rather spent it immediately. If the increased revenue had been applied to the deficit that would have been more sensible.

    Lest we forget, the first illegal immigrant amnesty also occurred under Reagan. Look where it got us? Starting over from square one.

    I come from an immigrant family myself, and I believe our immigration laws should be reasonable as is our national heritage. OTOH, while some wait patiently in line for their opportunity, I have a distinct dislike for those who push/bully their way to the head of the line. In the past it was a downright priority for immigrants to want to assimilate into American culture, and they were still able to enrich the culture by carrying on their own ethnic traditions. The newer generation seems to be more intent on turning the US into the countries they left. Perhaps they don't realize that the strength of the US comes at least in part from its ability to bring different cultures together into a blend that makes the cumulative culture stronger than the individual ones if they remain un-blended.
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  3. #13
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by signgirl View Post
    It matters not one whit which party overspent to balloon the debt..What matters is that such out of control spending, dependency on higher and higher taxes and creation of a cradle to grave nanny state are dreadfully hard policies to reverse or even to moderate. ....
    I assume that you know that US Federal taxes as a percentage of income for middle and upper income people have been declining for decades. The same cannot be said for lower income people because of the impact of social security taxes. Part of our problem is that taxes were decreased without parallel cuts in spending, resulting in growing deficits. Almost 80% of our total national debt is attributable to deficits under two Presidents: Reagan and GWB. With the exception of Obama, who still has a few years to show what he will do, the level of national debt as a percentage of GDP has gone down under every Democratic President since the end of WWII. The myth of rising taxes at the Federal level is just that: a myth.

  4. #14
    Senior Member M&K's Retrievers's Avatar
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    signgirl, welcome to the world according to yardley. He knows all and will dazzel you with facts and data based on government "studies" and then adds his spin to clarify it for the rest of us idiots. You will be so relieved that you can now rely on his vast experience to straighten out your misguided opinions (which I thought were excellent so they must be wrong)
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  5. #15
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by M&K's Retrievers View Post
    signgirl, welcome to the world according to yardley. He knows all and will dazzel you with facts and data based on government "studies" and then adds his spin to clarify it for the rest of us idiots. You will be so relieved that you can now rely on his vast experience to straighten out your misguided opinions (which I thought were excellent so they must be wrong)
    Of course, everyone is also free to follow the established tradition of no facts or even made up ones as long as they support your positions.

  6. #16
    Senior Member M&K's Retrievers's Avatar
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    Quote Originally Posted by YardleyLabs View Post
    Of course, everyone is also free to follow the established tradition of no facts or even made up ones as long as they support your positions.
    The term " as full of ... as a Christmas Turkey" comes to mind....
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  7. #17
    Senior Member road kill's Avatar
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    Quote Originally Posted by YardleyLabs View Post
    Of course, everyone is also free to follow the established tradition of no facts or even made up ones as long as they support your positions.

    The "Sole Posseser of the Truth!!"
    Stan b & Elvis

  8. #18

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    Quote Originally Posted by YardleyLabs View Post
    I assume that you know that US Federal taxes as a percentage of income for middle and upper income people have been declining for decades. The same cannot be said for lower income people because of the impact of social security taxes. Part of our problem is that taxes were decreased without parallel cuts in spending, resulting in growing deficits. Almost 80% of our total national debt is attributable to deficits under two Presidents: Reagan and GWB. With the exception of Obama, who still has a few years to show what he will do, the level of national debt as a percentage of GDP has gone down under every Democratic President since the end of WWII. The myth of rising taxes at the Federal level is just that: a myth.
    It was my understanding that as much as 50% of the US citizens do not pay federal income taxes. Is this not the case? So with a social security rate of around 7% how have the taxes on the lower income people increased as a total percentage?

  9. #19
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by code3retrievers View Post
    It was my understanding that as much as 50% of the US citizens do not pay federal income taxes. Is this not the case? So with a social security rate of around 7% how have the taxes on the lower income people increased as a total percentage?
    The amount of the social security tax doubled under Reagan and went up again with the addition of a Medicare tax.

  10. #20
    Senior Member M&K's Retrievers's Avatar
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    Quote Originally Posted by YardleyLabs View Post
    The amount of the social security tax doubled under Reagan and went up again with the addition of a Medicare tax.
    Explain please
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