The Daily Gazette
The Locally Owned Voice of the Capital Region

Editorial: Market losses vs. tax hikes: do the math

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Standard & Poor’s math may have been a bit fuzzy, but its explanation about “political brinkmanship” in Washington driving its decision to cut the nation’s credit rating last Friday seemed entirely reasonable. The problem wasn’t nearly so much our ability to pay — or to bring our massive borrowing more in line with our massive spending — as our willingness to do so in a responsible, predictable manner. And now Republicans’ refusal to meet Democrats ...

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August 11, 2011
5:40 a.m.

[ Flag Post ]

What a simply distorted view of why our country is facing economic woes. The Dems had 2.5 years to come up with a budget and failed to do so. The Dems also have control the WH, the Senate, and half of Congress...but I guess it is easier to blame those pesky terrorists, that have dared to mention that it is not good to spend more than you make, than it is for the President and the Dem party to accept responsibility.

August 11, 2011
8:06 a.m.

[ Flag Post ]

I recall the President asking all politicians to tone down the incendiary name calling in the wake of the Giffords shooting, but apparently that request does not apply to the Vice President or others on the left. I agree completley with the other comment, The Gazette's view of Washington and what needs to happen is very distorted. You cannot tax your way to prosperity.

August 11, 2011
3:18 p.m.

[ Flag Post ]

Standard & Poor's downgraded the credit rating because someone would make money from that action. S&P is part of the financial industry that is partly to blame for our woes and any actions on their part should be viewed with skepticism.

I don't understand why the editor thinks higher taxes are part of the answer. So much tax money is wasted that it shouldn't be hard to find big cuts. If government leaders could get their heads back in daylight (if you know what I mean), they could create a real program to make jobs. Jobs will automatically reduce government spending and increase tax revenue, without increasing taxes. Closing loopholes so everyone pays a fair share is much better than taking money from people, just because they have more than someone else. Where will that stop?

If you want to kill capitalism and eliminate the incentive to succeed, just keeping taking money from successful people. Wait, the Soviet Union tried that; so did Cuba; so did Communist China; so did North Korea. I'm seeing a pattern and it doesn't include red, white and blue.