It's a shame that no Republicans are as smart as David Cameron, the new Conservative PM of England. Cameron knows that when your finances are in the toilet, you CANNOT cut taxes. ANd wen you do cut taxes, you end up like Iceland and Ireland. Or Japan, which just had their credit rating slashed. U.K. Can’t Lower Taxes Yet, Cameron Tells the Sunday Telegraph Prime Minister David Cameron said the... [more]
It's a shame that no Republicans are as smart as David Cameron, the new Conservative PM of England. Cameron knows that when your finances are in the toilet, you CANNOT cut taxes. ANd wen you do cut taxes, you end up like Iceland and Ireland. Or Japan, which just had their credit rating slashed.
U.K. Can’t Lower Taxes Yet, Cameron Tells the Sunday Telegraph
Prime Minister David Cameron said the U.K. can’t afford to cut taxes at current levels of borrowing, the Sunday Telegraph reported, citing an interview.
“I would love to see tax reductions,” he said, according to the newspaper. “I’m a tax cutting Tory and I believe in tax cuts, but when you’re borrowing 11 percent of your GDP, it’s not possible to make significant net tax cuts.”
http://www.bloomberg.com/news/2011-02-06/u-k-can-t-lower-taxes-yet-cameron-tells-the-sunday-telegraph.html[less]
Response by huntersburg
about 15 years ago
Posts: 11329
Member since: Nov 2010
Socialist, one question for you. If our pension obligations were properly funded, and if there were no budget deficit, would you
1) want to raise taxes anyway
2) increase spending, so to create a deficit so that you could make an argument to raise taxes
3) keep things going at their current levels of spending and taxation
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Response by Socialist
about 15 years ago
Posts: 2261
Member since: Feb 2010
number 3. You always need a rainy day fund. We had a projected $5.6 trillion surplus when Bush was elected and he decided to cut taxes. 8 years later we all know what happened to that surplus.
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Response by huntersburg
about 15 years ago
Posts: 11329
Member since: Nov 2010
Ok Socialist, I appreciate that, thank you.
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Response by somewhereelse
about 15 years ago
Posts: 7435
Member since: Oct 2009
There still isn't a socialist who has gotten it right.
Socialist, one question for you. If our pension obligations were properly funded, and if there were no budget deficit, would you
1) want to raise taxes anyway
2) increase spending, so to create a deficit so that you could make an argument to raise taxes
3) keep things going at their current levels of spending and taxation
number 3. You always need a rainy day fund. We had a projected $5.6 trillion surplus when Bush was elected and he decided to cut taxes. 8 years later we all know what happened to that surplus.
Ok Socialist, I appreciate that, thank you.
There still isn't a socialist who has gotten it right.