Your taxes

[dr335is]

Originally Posted by FirstClass

Why should local schools be getting federal money? This is a case of an overly large federal government. Colleges are one thing, since they do research and draw a national enrollment, but local K-12 education should not be financed by the federal government.

why is Federal Gov't taxing me???
Why isn't only FL taxing me?

And FYI, even local HS's contribute to national research...

Reality is -- they do get Federal funds...

[dr335is]

Originally Posted by ganeil

The war has sucked up all the money? Here is a question for you, as a percentage of GDP, how much has the Iraq War cost the US?

.

Then why don't we just put the equivalent amoung into Education or Healthcare...if it is just a chunk of change according to you???

What percentage of France, Germany, Grece, Russia, China's GDP goes to war -- 0% FYI...

[TurboFan]

Originally Posted by dr325i

.....Unfortunately in a financially drained country, the only way to get back on the right path is to tax more. Hopefully, that will produce positive things on other ends...

Are you saying tax ourselves back to economic prosperity?

[dr335is]

Originally Posted by TurboFan

Are you saying tax ourselves back to economic prosperity?

No, I did not say that -- what I said since the Fed is drained, they will have to find the way to produce funds for Fed programs and the only way (heading into recession) and after wasting $1T on a war and many trillions on who knows what would be to raise taxes...

McCain can say anything he wants...because he kows his chances to win...

[TurboFan]

Ok, just making sure I understand your comment.

I don't think raising taxes is going to be the best way to fill the coffers to support spending. We'd be far better to boost the economy and allow the subsequent revenue to fill the coffers. That's the only way we've ever come even close to a surplus in recent history.

Boosting taxes has been shown repeatedly throughout history to result in economic degradation. In our current economic cycle, we don't need to raise taxes.

[dr335is]

Originally Posted by TurboFan

Ok, just making sure I understand your comment.

I don't think raising taxes is going to be the best way to fill the coffers to support spending. We'd be far better to boost the economy and allow the subsequent revenue to fill the coffers. That's the only way we've ever come even close to a surplus in recent history.

Boosting taxes has been shown repeatedly throughout history to result in economic degradation. In our current economic cycle, we don't need to raise taxes.

I think your option would be the best for all of us, however the consumer's spending is going down and down...

[scottwww]

Originally Posted by dr325i

No, I did not say that -- what I said since the Fed is drained, they will have to find the way to produce funds for Fed programs and the only way (heading into recession) and after wasting $1T on a war and many trillions on who knows what would be to raise taxes...

McCain can say anything he wants...because he kows his chances to win...

What about cutting federal spending? Why don't you see that as an option to reduce the debt?

[dr335is]

Originally Posted by scottwww

What about cutting federal spending? Why don't you see that as an option to reduce the debt?

We've seen it for 50 years...but nothing happened...
And they all promise that...
I don't see how's McCain going to cut the spending with his 100 year stay in Iraq predictions...

[TurboFan]

We're following a natural econmic cycle exaserbated by a lending crisis, housing oversupply and a war.

Lending has tightened up too far, but is already showing signs of returns to reasonable lending standards in areas that didn't go boom and bust. It's still tight in the areas that saw the most outrageous growth, but that will come back around as banks need to make loans to make a profit.

The housing bust will turn around as the foreclosures are absorbed from the market place. As they are absorbed, prices will stabilize and when they do, people will be more secure in their housing, confidence will return. Money is still near historic lows, and will probably be there for the next 1-2 years at least. No one is predicting a 30 yr conforming loan over 8%.

I would support a gov't bailout of homeowners first homes in a manner that would stabilize interest rates, or just convert to a 30 yr fixed at a prevailing rate corresponding to a 680 credit score with a gov't backing for lenders. If a homeowner can't afford that loan, they made a bad call and need to get out of the house anyway. They need to be able to get into an affordable home at the above standards. I don't support a direct bailout of the lenders - they need to live with the risk and artificial appraisals they directed.

I would like to see Iraq covering the costs of the war to remove that burden from taxpayers and the publc debt financing system. That will support a raise in the value of the dollar, which will help drop oil prices, and help the economy. I don't think an immediate pull-out from Iraq will support anyones long-term goals for stability in the region.

If we're not covering Iraq, the remaining shortfall can go to debt like it always does. I don't want to see the gov't run a surplus, the economics of it don't actually make sense. They don't use money effectively, and if they have too much, they'll waste even more.

[TurboFan]

Originally Posted by scottwww

What about cutting federal spending? Why don't you see that as an option to reduce the debt?

Originally Posted by dr325i

We've seen it for 50 years...but nothing happened...
And they all promise that...
I don't see how's McCain going to cut the spending with his 100 year stay in Iraq predictions...

Neither candidate has the political cajones to make a drastic enough reduction in one term.