Triple, Triple solution for National Deficits/Debt.

[ErikJ]

The national debt has spiralled 1500% since 1980 when Reaganomics began from $1 Trillion to 15 Trillion. Annual deficits now are roughly $1.5 Trillion a year.

1.Top marginal tax rates are now roughly 1/3rd what they were before Reagan.
As a result the wealth of the top 1% has roughly TRIPLED since 1980 when Reagan started cutting taxes on the the rich.

2. So we should TRIPLE the top marginal tax rate on the rich back to the 1940's and 50's rates. Also restore the pre-Reagan taxes on Capital gains, dividend income and corporate income taxes. This would bring in a rough estimate of $800 billion a year.

3. Defense spending has TRIPLED since 1997 from roughly $300 Billion a yr to $900 billion a yr., so we should cut defense spending back to 1997 levels saving $600 billion a year.

$800 + $600 Billion = $1.4 Trillion. Problem solved.

[orpupilofnature57]

1. Problem is getting the 536 people that have a vote

inspired to do the right thing.

[ErikJ]

2. Appeal to the Boomers nostalgia of 1950's

Very few rightwingers know that the top tax rates were triple what they are today.
The media has somehow conveniently ignored it.

So we could promote a slogan like

BALANCE THE BUDGET - Triple the top tax rates back to the 1950's level , cut defense spending back to 1997 levels.

OK, it needs some work. I'm no Frank Luntz. We could use one.

[orpupilofnature57]

3. Or the man that imposed those taxes your talking about ,and

knew when he was gone what might happen ,thats why he used his last official message to warn rather than Gloat on his accomplishments.

[ErikJ]

4. Yes, he also warned of "THE UNWISE TAX CUTTER"

“Every dollar spent by the government must be paid for either by taxes or by more borrowing with greater debt.
The only way to make more tax cuts now is to have bigger and bigger deficits and to borrow more and more money.

Either we or our children will have to bear the burden of this debt.

This is one kind of chicken that always comes home to roost.

An unwise tax cutter, my fellow citizens, is no real friend of the taxpayer."

- Dwight D. Eisenhower 1952

[orpupilofnature57]

5. Thanks