80 top CEOs call for tax hikes, spending cuts to cut deficit by $4 trillion

http://www.foxnews.com/politics/2012/10/25/80-top-ceos-call-for-tax-hikes-spending-cuts-to-cut-deficit-by-4-trillion/

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This is what President Obama has been proposing from the get go but the Republicans said nooooooooooooooo!! Still a good article.

The best way to raise tax revenue is through employeed people.

spending, well he hasnt excactly proven he doesnt like spending. oh Id say he likes to spend, matter of a fact, he likes to spend so much he doenst even want congresses aproval to spend.

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Forget increases in the income tax rates. Focus on a national sales tax. The underground economy is estimated to be $2 Trillion Dollars a year. The only way to tax it is by a sales tax. Every American needs to have some skin in the game. A 3-5% national sales tax would capture some of the evaded income tax. Since most states already collect a sales tax, provide a discount to the state for collection of taxes. Everyone wins and everyone has a stake in our Federal Government.

NaNook wrote:Forget increases in the income tax rates. Focus on a national sales tax. The underground economy is estimated to be $2 Trillion Dollars a year. The only way to tax it is by a sales tax. Every American needs to have some skin in the game. A 3-5% national sales tax would capture some of the evaded income tax. Since most states already collect a sales tax, provide a discount to the state for collection of taxes. Everyone wins and everyone has a stake in our Federal Government.

Until they amend the constitution to remove the Income Tax, putting a national sales tax in place would simply hurt low and middle income people the most and trash large purchases.

Three percent is what the Income Tax rate started out as and only for high income people. Most countries in Europe have National Sales Taxes or VAT's and they are all now above 15%. It would be here soon too.

Give the government more money, and they'll find a way to spend more money. Reduce the revenue and choke the spending.

NaNook wrote:Forget increases in the income tax rates. Focus on a national sales tax. The underground economy is estimated to be $2 Trillion Dollars a year. The only way to tax it is by a sales tax. Every American needs to have some skin in the game. A 3-5% national sales tax would capture some of the evaded income tax. Since most states already collect a sales tax, provide a discount to the state for collection of taxes. Everyone wins and everyone has a stake in our Federal Government.

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Good point, I don't disagree. I started this specific thread for a reason: 80 of America's top company's CEO believe that the corporate tax should be raised along with spending cuts. Sound familiar?

It bothers me that so many Republicans have signed Grover Norquist's pledge to not raise revenues. Norquist, of course says they are signing promises to the American people, not to him but to me that is just a thin excuse. Norquist was the creator of the pledge and it is his threat to "primary" the signers if they go back on it.

This extreme position is not getting us anywhere.

The group endorses the proposals of a special bipartisan commission that called for about $3 in spending cuts for every $1 in tax increases to save around $4 trillion.
Republican politicians and lawmakers have vigorously opposed tax increases. GOP presidential nominee Mitt Romney would lower deficits mostly through deep spending cuts and eliminating unspecified tax deductions. He also wants to lower the top tax rates on corporations and individuals.
President Barack Obama has proposed reducing the deficit by slowing spending gradually, to avoid suddenly tipping the economy back into recession. He would raise taxes on households earning more than $250,000 and impose a surcharge of 30 percent on those making more than $1 million.


Read more: http://www.foxnews.com/politics/2012/10/25/80-top-ceos-call-for-tax-hikes-spending-cuts-to-cut-deficit-by-4-trillion/#ixzz2B1LrDVVz

othershoe1030 wrote:It bothers me that so many Republicans have signed Grover Norquist's pledge to not raise revenues. Norquist, of course says they are signing promises to the American people, not to him but to me that is just a thin excuse. Norquist was the creator of the pledge and it is his threat to "primary" the signers if they go back on it.

This extreme position is not getting us anywhere.

The group endorses the proposals of a special bipartisan commission that called for about $3 in spending cuts for every $1 in tax increases to save around $4 trillion.
Republican politicians and lawmakers have vigorously opposed tax increases. GOP presidential nominee Mitt Romney would lower deficits mostly through deep spending cuts and eliminating unspecified tax deductions. He also wants to lower the top tax rates on corporations and individuals.
President Barack Obama has proposed reducing the deficit by slowing spending gradually, to avoid suddenly tipping the economy back into recession. He would raise taxes on households earning more than $250,000 and impose a surcharge of 30 percent on those making more than $1 million.


Read more: http://www.foxnews.com/politics/2012/10/25/80-top-ceos-call-for-tax-hikes-spending-cuts-to-cut-deficit-by-4-trillion/#ixzz2B1LrDVVz

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You're spot on OS. Unless and until the GOP stands up to this bird they will be at odds with the best interests of the nation. Norquist is not even an elected person but wields disproportionate influence to the detriment of responsible governance.