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Okay, I haven't seen you complain about that...
Posted on: December 22, 2020 at 09:04:25 CT
Gyro MU
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but if you say so that's fair.
But I do generally have a problem with many here who are similar to Americans who, when asked, what spending should be cut, either don't want to cut anything, or want to cut things that they themselves don't realize they benefit from.
An example: Many people want to cut Medicaid funding completely or severely. But most people don't realize that Medicaid pays for things, like say, Grandma to stay a nursing home...to the tune of about $5,000 per month. That's much greater than the average Medicaid spending for a poor person who needs to take their kids to the doctor.
Almost no one wants to cut defense spending, but there's as much waste in defense spending as in just about any other source of spending in America. Plus our "enemies" have focused defense spending, in modern times, on force multiplier type projects, i.e. cyberwarfare, defense systems designed to eliminate our major strengths (the Chinese have invented a supersonic missile that is designed to penetrate the hull of an American aircraft carrier). In short, we need to spend to improve, not just spend to impress, at least with defense spending.
Finally, historically taxes are very low. State income tax of course varies tremendously, but that's somewhat of a choice. Missouri, for example, has very reasonable state income taxes.
But I believe since Clinton was President in the 1990's, the top marginal rate has never exceeded 40% and, as Mitt Romney infamously noted during his 2012 campaign, 47% of people in this country pay ZERO FEDERAL INCOME TAX. That's a big number in a country with 330 million people or so.
You must view tax rates historically as well. Marginal rates were much higher in the 1950's and 1960's, even adjusted to inflation.
Estate taxes are off the table and have been for the great great majority of Americans. The Death Tax simply is a phony boogey man.
Capital gains are not crazy high either. In fact, they are about half of what they were 30 years ago.
But I do generally have a problem with many here who are similar to Americans who, when asked, what spending should be cut, either don't want to cut anything, or want to cut things that they themselves don't realize they benefit from.
An example: Many people want to cut Medicaid funding completely or severely. But most people don't realize that Medicaid pays for things, like say, Grandma to stay a nursing home...to the tune of about $5,000 per month. That's much greater than the average Medicaid spending for a poor person who needs to take their kids to the doctor.
Almost no one wants to cut defense spending, but there's as much waste in defense spending as in just about any other source of spending in America. Plus our "enemies" have focused defense spending, in modern times, on force multiplier type projects, i.e. cyberwarfare, defense systems designed to eliminate our major strengths (the Chinese have invented a supersonic missile that is designed to penetrate the hull of an American aircraft carrier). In short, we need to spend to improve, not just spend to impress, at least with defense spending.
Finally, historically taxes are very low. State income tax of course varies tremendously, but that's somewhat of a choice. Missouri, for example, has very reasonable state income taxes.
But I believe since Clinton was President in the 1990's, the top marginal rate has never exceeded 40% and, as Mitt Romney infamously noted during his 2012 campaign, 47% of people in this country pay ZERO FEDERAL INCOME TAX. That's a big number in a country with 330 million people or so.
You must view tax rates historically as well. Marginal rates were much higher in the 1950's and 1960's, even adjusted to inflation.
Estate taxes are off the table and have been for the great great majority of Americans. The Death Tax simply is a phony boogey man.
Capital gains are not crazy high either. In fact, they are about half of what they were 30 years ago.
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Okay, I haven't seen you complain about that... - Gyro MU - 12/22 09:04:25