Comments by "Rusty Shackleford" (@POCKET-SAND) on "'We Did It—Congratulations': David Schweikert Decries US Reaching $35 Trillion In National Debt" video.

@andysworld47 Any tax cut is technically a "cut for the wealthy" because the wealthy pay almost all of the government's income tax revenue anyway. They pay a much higher proportion of income taxes collected than they take a proportion of income earned in this country. The bottom 50% of taxpayers contribute less than 2% of income tax revenue.
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Tax cuts aren't that simple. In they long run they often generate more tax revenue for the government because they jumpstart the economy and greater a larger pool of income to collect taxes from, resulting in a higher yield of taxes, despite the rates being lower. Same thing happened back in the 80s with Regan's cuts. They was a slight drop the first year after the cuts were made, but in very subsequent year, the pool of income rose quickly. Besides, even if they were to raise taxes by a lot and assuming this would have no negative side effects on the economy as a whole (which it probably would as less free money means people will spend less, invest less, and less money overall will be exchanged, resulting in stagnation), it still wouldn't be anywhere near what would be needed to balance our budget and lower our debt. The only real solution is to cut government spending.
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Military spending accounts for 15% of our annual budget, if that. Abolishing the ponzi schemes that we call social security and medicare would free up a lot more money.
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@andysworld47 It makes perfect sense, I suggest you read the Tax Foundation. The top 1% of income earners earn 26.3% of all income generated in the country while contributing 45.8% of all income tax revenue collected by the government. Any and all tax cuts the government decides to enact will automatically affect the wealthy more, simply because they're the ones paying most of the taxes.
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So you think it would be ok for the state to outright steal 1/3 of your wealth? And keep in mind, your home makes up a substantial proportion of your net worth, so the state would be kicking millions of people out of their homes in this scenario.
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