Muscatine

The Bankruptcy Boys

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  • hiroad
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  • The Hilltop
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You guys are probably old enough to know who Senator Roger Jepsen was.   The guy who used his credit card to pay an "Escort Service" and lost his next election.   I think to Harkin.

The story is he made a trip to Muscatine in which he talked tax cut, tax cut, tax cut, tax cut etc.   When asked which services he would cut his answer was,"I don't have to do that until next year".   Typical.


As I recall, Jepsen promised tax cuts, not revenue cuts.  As has been born out throughout history tax cuts increase revenues.  Tax hikes decrease revenues.  

 

For enlightenment, read this article for a practicle current day example!

http://www.examiner.com/x-19697-Camden-County-Conservative-Examiner~y2010m2d10-Tax-Revenue-drops-70-billion-as-thousands-flee-New-Jersey

 

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  • Babybird
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HiBBSmile

I'm not sure what you're going for here BB, but if I may, since I didn't support him nor his health care agenda in the first place, I don't see that I have given him much of a chance. But to say that he's our "leader" for 4 and::: well that's it as far as I can tell right now. As far as hope? I don't see much of that any more after the last year, though it's a matter of personal perspective and what each of us might desire for the nation over our individual wants. I stand by my comment regarding who I wanted and how backward it could be to want anything but success for America. Obama isn't above the law or the desires of the republic's future either. He's gotten off to a poor start in my book and the bus is idling. Just under three to go, and we'll see come Nov. how congress rolls. Either way I want a nation back to work, with corporate greed back in check(if possible), and those political hacks out of a job unless they see the light, and their lobbyist buds outta congressional halls and pockets.

Lucy 

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  • gohawks
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Lucy,

If you want a nation back at work, the first thing I'd suggest is that the congress stop extending unemployment benefits.  I can well remember when that ran out after 26 weeks, period.  Plus, you had to report to job service each week the names of at least three different places you had applied for work, and your contacts had to verify that.  Today, not only are there no longer such requirements, but these benefits seem to last forever.  People say you can't live on unemployment, but if you live conservatively and have some money in the bank, or a spouse working, 400 bucks a week can go pretty far.  Some people need an incentive to get off their arses, and perpetual unemployment doesn't provide it.

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  • mallory
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The story is he made a trip to Muscatine in which he talked tax cut, tax cut, tax cut, tax cut etc.   When asked which services he would cut his answer was,"I don't have to do that until next year".   Typical.


As I recall, Jepsen promised tax cuts, not revenue cuts.  As has been born out throughout history tax cuts increase revenues.  Tax hikes decrease revenues.  

 

Roger knew he was cutting revenue.   That's why he acknowledged he would have to address services reduction the next year.

If you cut the sales tax 50%, do you think people would buy more than twice as much taxable goods so that revenue would increase?  Even Terry Branstead knows that's not true.   That's why he raised them twice.  And revenue went up.

That "cut taxes, raise revenue" slogan generally isn't true.   It might be in some select cases for some short periods of time but that's it.
Tell us how a 5% increase in income taxes for those making over $5,000,000 per year would lower revenue.

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