As the economy tanks, Tea Party fortunes rise

[AMonger]

This from the writer known as the Tea Party Economist:
Tea Party 2 Will Dwarf Tea Party 1

Grover Norquist, the much-hated guru of lower taxes, has said we are not going to see a budget deal this year.

I have said the same thing.

This is good news for the Party, Norquist says. The outrage at higher taxes that will hit the middle class next year will drive people into the arms of the Tea Party.

That’s good news for me. The Tea Party Economist is positioned for just such growth.
The public will be losers. Tax hikes make losers of most people. One way or another, taxes are going up. Outrage will go up. The economy will go down.

The federal government is too big. It is going to get bigger. It owes too much to old people. It owes too much to welfare clients. It owes too much to the defense industry. It cannot pay its bills without borrowing. So, it owes too much to lenders.

These debts cannot be paid off. So, it will do no good to raise taxes. The taxes will not get paid. The economy will tank if the government tries to collect the taxes scheduled for 2013. A falling economy will reduce federal revenues and increase federal welfare expenditures.

We need lower taxes. We need reduced federal spending. We will get neither.

The Tea Party will grow. So will my mailing list.

To make money in this world, bet against government wisdom.

 

[Monty]

I, for one, think he is correct. The answer does NOT lie in raising taxes, it lies in the fact we MUST reduce spending Same as your budget at home.

When ya broke, ya broke ...... stop spending. It's like a hole in the ground, when you find yourself over your head, stop digging!

 

[layoutshooter]

Revenue has never been the problem, over spending is. Just as no person is entitled to things that they have not earned, congress is not entitled to our money.

 

[Tennesseahawk]

For one thing, raising taxes on the middle class puts more families into poverty, which strengthens the Democrats. For another, the Tea Party is a branch of the Republican Party; and I don't trust either anymore.

 

[layoutshooter]

For one thing, raising taxes on the middle class puts more families into poverty, which strengthens the Democrats. For another, the Tea Party is a branch of the Republican Party; and I don't trust either anymore.

Neither party can be trusted. The Demoncrats WANT people in poverty. It is part of their plan to control the population. Dependent people are easily controlled. The Rumbumlicans go along with it because they too gain power as more people become dependent. Until we vote all the bums out and start over, nothing is going to change.

 

[muttly]

For one thing, raising taxes on the middle class puts more families into poverty, which strengthens the Democrats. For another, the Tea Party is a branch of the Republican Party; and I don't trust either anymore.

The tea party is trying to elect more fiscal conservatives and change the republican party. I wouldn't totally condemn them because they might have a few tea party imposters.

 

[muttly]

I, for one, think he is correct. The answer does NOT lie in raising taxes, it lies in the fact we MUST reduce spending Same as your budget at home.

When ya broke, ya broke ...... stop spending. It's like a hole in the ground, when you find yourself over your head, stop digging!

Raising taxes will only hurt the economy and will do nothing for the debt. We need to cut spending and grow the economy to reduce the debt.

 

[davekc]

Rates need to be reduced significantly along with adding a consumption tax. That way EVERYONE has some responsibility. Expanding the base is the only way we are going to cut into that 16T dollar debt that is still climbing with no end in sight.

 

[layoutshooter]

Rates need to be reduced significantly along with adding a consumption tax. That way EVERYONE has some responsibility. Expanding the base is the only way we are going to cut into that 16T dollar debt that is still climbing with no end in sight.

ALMOST right. The consumption tax is the way to go with NO INCOME TAX. The RATE on that tax should be NO MORE than 10%. It should exclude ALL things that have taxes on them already. ONE TAX only on each item.

The debt will NEVER be retired as long as there is deficit spending.

 

[muttly]

Rates need to be reduced significantly along with adding a consumption tax. That way EVERYONE has some responsibility. Expanding the base is the only way we are going to cut into that 16T dollar debt that is still climbing with no end in sight.

I'm not for the V.A.T. Having it AS WELL as an income tax would be detrimental to a growing economy, which would have the opposite affect of increased revenues to the Federal government to reduce the debt. I would be for a national sale tax ONLY or a flat tax ONLY, but not both.

 

[layoutshooter]

The "VAT" is not the same as a sales tax. It is FAR worse and FAR more damaging. I am 100% in favor of a National Sales Tax in PLACE of, not in addition to, the income tax. Then the bum, hookers, drug dealers etc, would be paying THEIR fair share.

 

[davekc]

The consumption tax would be more appealing to the poor because things like food or necessities can be taxed differently. A flat tax would be good, but a much tougher sell. As in, "the rich are going to get richer". We seen how that argument went.
I would be in favor of just that, although I am not sure how tough it would be to sell it. I would like to get rid of the rest, but it may make sense for a period of time to retain parts at certain reductions as it is transitioned. Have to watch the system isn't shocked too fast.
Remember, this would be the Federal government doing this.

 

[layoutshooter]

The consumption tax would be more appealing to the poor because things like food or necessities can be taxed differently. A flat tax would be good, but a much tougher sell. As in, "the rich are going to get richer". We seen how that argument went.
I would be in favor of just that, although I am not sure how tough it would be to sell it. I would like to get rid of the rest, but it may make sense for a period of time to retain parts at certain reductions as it is transitioned. Have to watch the system isn't shocked too fast.
Remember, this would be the Federal government doing this.

Use the PA tax system on sales. I kinda like it. It exempts food, meds, primary housing, some clothing etc. So does MI on some items. It is not that hard to protect the "poor" and tax the "rich". The rest is just excuses. Typical for Marxists.

 

[davekc]

I would be ok with that. Broadening the base is the key. Even more so with the huge debt we are carrying.

 

[layoutshooter]

As stated before, until we have a working SURPLUS, we well NEVER retire the debt.

 

[AMonger]

For one thing, raising taxes on the middle class puts more families into poverty, which strengthens the Democrats. For another, the Tea Party is a branch of the Republican Party; and I don't trust either anymore.

Unfortunately. Had the Tea Party remained true to its Paulian roots, they'd be worth supporting. Yet, I can't help feel a little glad about it. Obama is vile and the Republicans, though I detest them now, too, are about 4% better.

 

[AMonger]

..we well NEVER retire the debt.

Fixed it for you, aside from the typo. The debt can never, ever be repaid at this point. Ever. It's an impossibility. Default or debt slavery and deprivation are the only options. The same writer as in the OP has been predicting default for a long time. He says that one day, young people are going to look at their tax rate, be outraged, and cut grandma & grampa off from the public trough. It'll be a reversal; anyone who proposes touching social security now is done as a politician, but sooner rather than later, anyone who proposes social spending won't be able to win an election in this country, assuming we still have them.

 

[davekc]

You mean the "gimme goobers" are going to cut off grandma and grandpa if they can't get their free stuff?

 

[layoutshooter]

Of course the debt can be retired. We have to WANT to retire it. It was done in 1835, it CAN be done now.