Do we have a Tax Revenue Problem or a Spending Problem?
By bobmnu
@bobmnu (8157)
United States
March 5, 2013 2:23pm CST
It seems that the Democrats are saying that we do not have a spending problem but a revenue problem and need to raise taxes. Republicans say we have a spending problem and need to cut spending.
A report by the Congressional Budget Office (CBO)states that this year the government will collect a record amount in taxes and at the same time spending a record amount.
http://www.csmonitor.com/USA/DC-Decoder/2013/0304/Tax-revenue-to-hit-record-this-year.-So-is-spending-the-problem
My question is do we have a tax problem or a spending problem?
1 response
@thegreatdebater (7316)
• United States
7 Mar 13
We have both. We are spending more not only in new spending but also paying interest on the spending that happened during the Bush years. But, you have lobbyist who protect all of the spending, so where do you cut? However, if you look at our income end you find all of these tax loopholes that people and corporations are using to avoid taxes. Using tax free bonds is just one small (not in amount, but in the usage) example of this. If you were to end this you could pay for more than have of the sequester.
http://www.cnbc.com/id/100522105
