martinibuster - 3:36 pm on May 21, 2013 (gmt 0) [edited by: martinibuster at 3:38 pm (utc) on May 21, 2013]
Problem isn't taxation. Problem is spending. If the USA didn't have such a bloated spending system there wouldn't be a need for the high tax rates it has...
Now we're back to the political stuff I was talking about. The right and the left repeats a true fact then gives you a lie to wash it down with. Check out this article:
Sorry, Folks, We Don't Just Have 'A Spending Problem' [businessinsider.com]
1. ...the federal government has developed a huge budget deficit. This is because federal spending... has surged, while federal tax revenue... has stagnated.
2. Federal government spending is now running at 24% of GD; higher than almost any time in history.
3.The federal government is only collecting 17% of GDP as tax revenue, a historically low level.
So the real picture is yes, we have a spending problem. But no, we don't have a huge tax burden. It's the opposite, the Federal Government is collecting a historically low level of taxes as expressed as a percentage of GDP.
Although for the past thirty years many programs for the poor, elderly, and for children have been cut, spending must be reined in but taxes also need to be made fair for everyone. Paying taxes is a patriotic duty, it comes with being a citizen of a country. So is it wrong to consider tapping the mega-wealthy corporations that are not paying their fair share?
[edited by: martinibuster at 3:38 pm (utc) on May 21, 2013]