A Quote by Lindsey Graham
I'm for eliminating deductions and taking some of the money to buy down rates and put it on the debt. That's not raising taxes. That's solving a problem.
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While the deficit and debt are serious problems, I oppose solving these problems by raising taxes.
The state of New York's got this group of people called smokers, and they know they're addicted, and despite all the efforts to make 'em quit, they know they can't. So they just see a pile of money when they see these people. And they think because they're addicted, they can't not buy the product, so they just keep raising taxes and raising taxes, and they expect people just to come up with the money from somewhere and pay it.
When they talk about raising your taxes, I think raise the taxes on some of these countries that are taking advantage of the United States.
Here's the problem if you keep raising tax rates: You slow down economic growth.
Would I feel comfortable with Hillary Clinton taking care of my money down there? That I pay the taxes, corporate taxes down there? I wouldn't feel comfortable at all. They've just continuously spent money and people are up to here with it.
To this day, I still have a massive respect for anything I buy and I have never got into debt. I understand money does not come easily. I put a lot of that down to my parents.
Solving a problem created by debt... by creating more debt is a fool's errand.
We need a wealth tax that on a one-time basis is going to take back at least some small fraction of the great windfall that the upper 1 percent, or 5 percent and pay down the government debt, pay back the federal debt because we can't put this on the next generation or they're going to be buried paying taxes.
Goals work. Pick one debt, and then put every dime into paying down that one debt. Once that debt is paid off, start paying down the next debt. Pretty soon it's time to move from paying debt to building savings.
I'm for Simpson-Bowles. It doesn't raise taxes, it closes loopholes and takes the money we would give to a few people and put it on the debt.
If you buy my book at Walmart, I don't want you to read it. I want you to set it on fire. Because that's what you just did with your money. When you buy a book through an indie-store, you put some money into an independent store and owner in your community. You've put some money into someone's life and someone's livelihood, into keeping the lights on, into helping them be alive. That's a great thing.
It is well known that "problem avoidance" is an important part of problem solving. Instead of solving the problem you go upstream and alter the system so that the problem does not occur in the first place.
The left does understand how raising taxes reduces economic activity. How about their desire for increasing cigarette taxes, soda taxes? What are they trying to do? Get you to buy less. They know. They know that higher taxes reduce activity. It's real simple: If you want more of an activity, lower taxes on it. If you want less of an activity, raise taxes. So if you want more jobs? It's very simple. You lower payroll taxes. If you don't want as many jobs, then you raise corporate taxes. It's that simple, folks.
Bet on black. Buy low-debt or no-debt companies. When the economy is in trouble, these companies usually have enough cash on hand to stay out of trouble. And they seldom need to borrow when interest rates are high.
The statement, "The debt problem has become so extreme that we have no choice but to cut social spending" is presented as an objective assessment of our situation. But can you imagine a media commentator making the following assertion? "The debt problem has become so extreme that we have no choice but to raise taxes on the rich."
Mortgage is one of the most popular deductions. It costs the Treasury about $103 billion a year. Now that's money we could use to treat wounded veterans or reduce the deficit or fill the border. Instead, we give it a subsidy to homeowners, and it goes mainly to the richest homeowners in America, because only one third of Americans itemize their deductions. It doesn't work. Many countries have gotten rid of the mortgage interest deduction. Almost all of them have higher homeownership rates than we do.
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