You need another fiscal cliff, followed up by a fiscal parachute jump, topped off by a fiscal death-dive. If the GOP really gave a shit, they'd agree to the tax rises proposed by the Dems, instead of filibustering their country into bankruptcy.
Well, sure as hell they aren't going to cut a trillion dollars from the budget any time soon, and if it came down to it the GOP wouldn't have the balls to do that either, so either taxes are going up, or the country's going bust.
Sorry, but cutting public medical spending on its own will not nullify the US deficit. And linking to a graph drawn by someone three years ago on the presumption that the debt will be just flat-out ignored does not justify your statement.
Double the income tax!? Do you have any idea how devastating that would be for the economy? We'd collect less revenue than we do now, simply because of the resulting recession and the fleeing of the rich from the country. It seems you have a lot to learn about economics before you can make any reasonable suggestions.
And the debt is being ignored. This graph [link] drawn by the CBO within the last two months, is really not much different than the one from 3 years ago that I linked to. Look at how tiny the sequester really is there.
It wouldn't be devastating to the economy at all. It is a necessary measure. It is utterly laughable that people on six figure salaries pay as little as 16% income tax, and your country is humming and ahhing over how it's going to deal with the deficit. Utterly laughable.
Where do you think the middle and upper classes will go? The Cayman Islands? Mexico?
People with 6-figure salaries pay upwards of 30%. You're full of shit.
If you double their income taxes, they'll flee to countries with lower tax rates. Here's a nice list to show you how easy it would be to find such a country: [link]
If you double the tax burden in the US from 30% to 60%, then people who can afford to move will flee to South Korea, Ireland, New Zealand, Japan, Iceland, Australia, Switzerland, Canada, the UK, or any other developed nation on that list. There are plenty of developed nations (some of them even more developed than the US) that have far lower tax rates than you're suggesting, and they will all receive the wealth that you scare away with your idiotic tax proposal.
"Detoxing from our addiction to government spending will be painful"
Only for people with lots of debt, like recent college graduates, middle class families with home loans, lower-middle class families with credit card debt, poor people with outstanding debt that hampers their economic livelihood... oh, actually... that's everybody, basically.
...yeah, that would be painful. Very. And crippling. Crap, you think consumer demand is at an all time low right now? That happens, ain't nobody buyin' ANYTHING. They'll be lucky if they can find a nice bridge to lie under at night.
"The whole world will now see that the only countries that truly recovered from the 2008 Great Recession are those that avoided the temptation of Keynesian stimulus, opting instead for free market reforms to lift the burden of government off the backs of the entrepreneurs and innovators."
Australia, welfare/heavy regulator state that recovered from the recession yonks before the rest by using government stimulus spending. Once again proving Schemer wrong.
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