Tax Cuts?

Wednesday, 29 October 2008 at 5:00 am Pacific USA Time.

I am hoping someone can explain something to me.

We have borrowed billions from other countries. The USA is in super debt. Taxpayer money we don't even have is going to bail out private banks. And we have a deficit, meaning the government is spending more than it's collecting.

Sounds like the government is some sort of bad college kids who just got a credit card or something. :)

Here is what I don't understand. McCain keeps saying, "Read my lips. No new taxes." He's talking about tax cuts for just about everybody. Cuts in how your cell phone is taxed. Cut corporate tax rates. He makes it sound like everybody's everything tax will go down if McCain is the President.

Question 1: Remember the last time we heard "no new taxes"? How do we know that a campaign promise will be kept? Many campaign promises aren't kept.

Question 2: If McCain wants to decrease everybody's taxes, and the government is already taking in less in taxes than it's spending, how will we get rid of the deficit and our debt?

I would think some taxes would HAVE to be raised. How else are we going to get back to having no deficit or debt, and hey, I'd like a surplus! I'd like our government and country to be strong, have heaps of money, take care of its own, and not need other countries to bail us out. China basically owns us right now… but we're afraid that people in Congress might be un-American? We're owned by China, and what China doesn't own, we pretty much buy from them anyway.

So can somebody who knows more about politics and economics please explain to me how our country is going to clear the deficit, pay off our debts, and have money in the bank :) if the plan is to tax most people and businesses less in most ways. Thanks.

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Categories: Just An Observation

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One Response to “Tax Cuts?”

  1. Tony says:

    Hi. Do you read these comments? If not, I’d hate to waste any more time commenting. If anyone reads this, please chime in! Thanks. –Tony