Originally posted by lazs2
Hold it... the democratic congress raided social security and medicare not Reganrepublicans had control of congress until 1987
He had no power to do so.He sure did, and the current president has hinted on trying to get his hands on it during war time or recession.
The democrats also are the ones that set up those programTo help you support yourself after retirement, and this is the thanks they get.
in the end... we do agree that spending has to be stopped first. I would add the caveat that emergency spending would be excluded but emergency would have to have very strict terms.It's not the emergency, but how and where that money goes during the emergency that is the problem, we tend not to know exactly where the money is going during those times.
J7ust doing that would probly result in being able to pay off the debt while at the same time decreasing taxesThat's what I am trying to explain, by paying off the debt, we are decreasing taxes. Remember, a billion a day goes to pay the interest, that's our tax money. By lowering the payment, we lower our tax burden. We decrease spending.
decreasing taxes would still be a good idea if spending were frozen as taxes are too high now to stimulate growth.Decreasing taxes is never a bad idea(albeit I would rather see most of it aimed at small business), but the debt is a tax consuming monster. If you cut spending w/o decreasing taxes, and that money is used to pay the debt, then what you are doing is actually reducing taxes. Once you have paid off the debt, we have now cut taxes by one billion a day. Then we can reduce taxes even more because we cut spending already and do not have the debt.
Here is some reading on the laffer curve. The math is kind of hard to follow, but you understand what they are saying. But I look at it this way, you show me a billionaire that doesn't want to make another billion because of taxes, i'll show you an idiot.
http://www.gmu.edu/jbc/fest/files/Monissen.htm