Dave Ramsey on Debt

[nynco]

time and time again......... really?

Because all the data shows that we had were paying off our debt during the 60s and our debt exploded during the time of lower taxes. As to the small uptick in revenue. Well that is because we borrowed to cover our costs. This thread is about our debt problem. So unless you figure out a way to cut taxes and spending and show how we can do that well......... that won't happen.

Voodoo economics failed........ look at our debt.

[Inconel710]

time and time again......... really?

Because all the data shows that we had were paying off our debt during the 60s and our debt exploded during the time of lower taxes. As to the small uptick in revenue. Well that is because we borrowed to cover our costs. This thread is about our debt problem. So unless you figure out a way to cut taxes and spending and show how we can do that well......... that won't happen.

Voodoo economics failed........ look at our debt.

Again you have failed to look at real numbers and how people behave with their money in the real world. Here's the graph of Tax Revenue as a Percetage of GDP again. Even when the marginal tax rate topped out over 50%, the government never captured more than 20% or GDP. Also notice how revenue went UP after lowering taxes in 1986 and up again after lowering taxes in 2003! That's not voodoo, those are numbers you can't argue with.

The debt has exploded because of the failed belief in Keynesian economics and government getting too big. There's real "voodoo" economics!

[Ranger]

Again you have failed to look at real numbers and how people behave with their money in the real world. Here's the graph of Tax Revenue as a Percetage of GDP again. Even when the marginal tax rate topped out over 50%, the government never captured more than 20% or GDP. Also notice how revenue went UP after lowering taxes in 1986 and up again after lowering taxes in 2003! That's not voodoo, those are numbers you can't argue with.

The debt has exploded because of the failed belief in Keynesian economics and government getting too big. There's real "voodoo" economics!

You are talking to a brick wall my friend. He'll fire back with facts and figures from the Daily News or something. Whatever.

[tmleadr03]

You are talking to a brick wall my friend. He'll fire back with facts and figures from the Daily News or something. Whatever.

I linked to actual hard numbers from the white house that you can download in an excel spread sheet and that will not be read or understood by the left.

[two shoes]

I linked to actually hard numbers from the white house that you can download in excel spread sheets and that will not be read or understood by the left.

Funniest thing I have read all day....

[tmleadr03]

Funniest thing I have read all day....

Christ, did I type that? Fuck that made my head hurt just now reading it. Talking on the phone and posting online do not mix.

[two shoes]

Christ, did I type that? Fuck that made my head hurt just now reading it. Talking on the phone and posting online do not mix.

I wasn't busting your chops on the grammar, it was the:

...that will not be read or understood by the left.

That's what struck me as funny. The grammar only adds to it!

[nynco]

Again you have failed to look at real numbers and how people behave with their money in the real world. Here's the graph of Tax Revenue as a Percetage of GDP again. Even when the marginal tax rate topped out over 50%, the government never captured more than 20% or GDP. Also notice how revenue went UP after lowering taxes in 1986 and up again after lowering taxes in 2003! That's not voodoo, those are numbers you can't argue with.

The debt has exploded because of the failed belief in Keynesian economics and government getting too big. There's real "voodoo" economics!

So why did our Debt explode under Reagan?

[tmleadr03]

So why did our Debt explode under Reagan?

Holy fucking shit. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending. Spending.

Taxes under Reagan took in a very high amount of revenue because he lowered taxes.

[nynco]

I maintain that Reagan only took in more revenue because he increase borrowing and spending. Which he did.

There is no free lunch.

As to tax levels of the 1960s one major difference. Those taxes back then were targeted at business and other wealthy targets more than the middle class. Today the middle class pays a larger portion of their earnings in taxes than they did in the 1960s. We need to close tax loop holes like the ones that give tax breaks to corporations for outsourcing American jobs over seas.