Friday, June 10, 2011

We have a REVENUE problem, NOT a spending problem

Republicans say we can't raise taxes to fix the deficit.  They refuse to agree to any revenue enhancements.  They say we must balance the budget by cutting spending, particularly spending on things helping the poor, the elderly and the disadvantage and educating the young.

Republicans not only say we can't raise taxes, they say we should CUT TAXES even further by lowering the top tax rate to 25% and eliminating taxes on capital gains in order to help the rich get richer.


The Center for American Progress (CAP) took a look at 10 indicators of the amount of taxes the United States collects.  Their conclusion: what we really have is a REVENUE problem, NOT A SPENDING problem.

Americans AREN'T OVERTAXED, the rich AREN'T OVERTAXED, corporations AREN'T OVERTAXED, and we DON'T have too few tax breaks and loop holes, we have TOO MANY.

AMERICA IS A LOW TAX COUNTRY, and that is a big part of our deficit problem.  It is a problem Republicans have created by their relentless drive to cut taxes, mostly for the very rich.

If we just went back to collecting taxes at the level we did before Reagan was elected and the Republicans took over, we wouldn't have a deficit problem.  We would be able to fund education and R&D and Social Security and Medicare and Medicaid and infrastructure improvement and so on and so on.

Here are 10 graphs from CAP you should print out and share with your Republican friends when they start raving about how we can't afford to raise taxes to fix the deficit.  Not only CAN we raise taxes, but raising taxes to help bring down the deficit is the only fair and responsible thing to do.  Check out the FACTS below.


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