Democrat Debt Solutions: Tax the Rich, Spend More Money

As the national debt finally passes the $16 trillion mark, are Democrats serious about addressing deficit spending?

Several Democratic delegates and supporters that Reason TV spoke with at the 2012 Democratic National Convention said that Democrats care deeply about the debt, but when it came to offering solutions, they said that serious reductions in government spending would actually be counterproductice. Instead, many suggested increasing public works spending to stimulate job growth, despite the fact that President Obama's first stimulus still hasn't moved the economy above 8 percent unemployment. 

They also defended Obama's proposal to raise taxes on anyone earning more than $200,000 a year, even though this won't even come close to closing the annual budget deficit. 

Approximately 4:00.

Produced by Paul Detrick and Zach Weissmuller.

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  • The Hammer||

    Math is hard.

  • Tman||

    "He was cock blocked!"

    That has to be my favorite line so far.

  • ||

    That lady saying "cockblock" over and over was pretty great.

  • Tim||

    "You keep using that word. I do not think it means what you think it means."

  • Pip||

    No, she's using it correctly. Obama wants to put his cock up Americas ass and the congress cock-blocked him.

  • Alan||

    +1000

  • Killazontherun||

    If she got a little nip and tuck to the jowls hearing her say 'cockblock' over and over would be kind of hot.

  • Brandybuck||

    Stop! Stop with these videos! They're damaging my brain! It hurtz so bad...

  • Randian||

    You can just not watch them, which is what I do.

  • Brandybuck||

    It's the bad kind of hurtz too. Not like Sally Mae from next door in a leather halter with a fake whip kind of good hurtz, but a Michelle Obama in red leather with an agiel kind of hurtz.

  • Anonymous Coward||

    It seems to me that you are armed only with your hatred of moral clarity.

  • Night Elf Mohawk||

    Posters First Rule: No wookiees in leather.

  • Almanian's Evil Twin||

    As someone noted yesterday - she was really good as the co-pilot of the Millenium Falcon

  • Calvin Coolidge||

    As soon as they can come up with a solution where 99% of us can live off of what we steal from the 1% who still work, we will truly live in a worker's paradise.

  • T||

    Judging by all the People's Republics I've ever seen, you have the ratios backwards.

  • sarcasmic||

    Hey, but we've got the right people in charge now. It will be different this time.

    "Trust us. We're not like the others."

  • Pro Libertate||

    The solution is robots. Lots of robots. Read Asimov's The Caves of Steel and sequels--robot slaves are where it's at.

  • Tim||

    I think clone slaves have potential.

  • Pro Libertate||

    Sure, but some bleeding heart lawyer will insist that they be extended human rights. That's less likely to work with robots.

  • Hyperion||

    Don't underestimate the sliminess of lawyers. There is already a lawyer in NY working on robots rights. I kid you not.

  • LTC(ret) John||

    Until the robots turn on him.

    The Flight of the Conchords "The Humans Are Dead" is a prophetic warning!

  • Pro Libertate||

    That's okay, because there are many more high-powered lawyers working on preventing any recognition of robot rights. They work for the robot-making companies of the world.

  • ||

    I'm so glad I can't WTFV at work, because this seems very, very brain damaging.

  • Zombie Jimbo||

    Cock blocked... So she thinks the Republicans kept Obama from having his way with our poor innocent economy?

    You can tell Gillespie wasn't involved or he'd be sure to put in Republicans saying stupid things, for balance.

  • ||

    Yes, please, whine some more that reason takes shots at both TEAMs. That doesn't make you look like a TEAM asshole or anything. No, really.

  • Randian||

    He actually whined that this video didn't take a shot at TEAM RED...I think?

    It's a very confusing thing, complaining about something that didn't happen.

  • ||

    Or maybe it's a shot at Gillespie for an (alleged) tendency to ding both parties at once? Or maybe he's praising Gillespie? It's hard to tell.

  • ||

    It doesn't matter. Either way, it's whining. And there's little more annoying than whining.

  • Killazontherun||

    Nick does have a tendency to weaken his narratives with 'on one hand . . but on the other' constructions. That's a legitimate cop out you are taught to avoid in composition.

  • Calvin Coolidge||

    I'm very upset about the things you didn't say in your post, and plan to file a complaint with Liz Warren's office immediately!

  • Almanian's Evil Twin||

    Smoke 'em peace pipe first. Meeting take many moons. It Native American way.

  • Killazontherun||

    My nephew's Hindu friend Sam runs a cigar shop just up the road on the outskirts of Greensboro. Inside he has a chief statue with a dot on its forehead.

  • Hyperion||

    Good Gawd, don't let the DNC see it, they'll have it up on stage trying to incite a riot by talking about the GOPs war on Native American Hindus.

  • Killazontherun||

    I forgot the mention the Rainbow Brite tattoo on the side of the chief's head. Sam, the damn Hindu iconoclast!

  • Killazontherun||

    In fact, the red dot is just a part of an exclamation mark that was separated from the rest of the tattoo.

  • Emmerson Biggins||

    I'm with you there. There is plenty to whine about in existing universe. No need to bring in strawman realities to supplement your whining.

  • Zombie Jimbo||

    Just complaining about the color of the sprinkles on my free ice cream. Not like its important, like pizza or anything.

  • Randian||

    I support piling on Republicans, because at least Dems are honest about their intentions. Republicans pervert libertarian rhetoric for their own ends.

  • dinkster||

    So honest. Ignorant honesty is the best kind of honesty.

  • dinkster||

    Useful idiots are useful.

  • Marshall Gill||

    Dems are honest about their intentions.

    You misspoke here, right? They admit that they would create a workers paradise that would be only marginally different than the Soviet Union? They are honest about their belief that the Iron fist is the path to Utopia?

  • Eric||

    Hyperbole much? Oh wait, I forgot which site I'm on.

  • Randian||

    What would you call it when you want to outlaw profits?

    What would you call it when the government wants the merger of State and Business?

  • Eric||

    I'd call it politics as usual...from the right or the left. But that doesn't play well with you does it. It's more fun to sit around and breed incestual memes on HR...right?

  • dinkster||

    Pot stirring is a much higher calling than political exaggeration.

  • Randian||

    Yeah, pretty much. It didn't take Schiff but five minutes to find delegates who want to outlaw profits and Weismueller two minutes to find Dems who want to seize all of the wealthy's money.

  • ||

    at least Dems are honest about their intentions.

    -Close Gitmo.
    -End the Iraq war.
    -Pull out of Afghanistan.
    -Leave medical marijuana alone.
    -Get unemployment below 8% in 4 years or i should be voted out of office.
    -Balance the budget in 4 years.
    -return civil liberties lost by the war on terror.
    -no more voluntary wars

    What the fuck are you talking about Randian?

  • ||

    You can tell Gillespie wasn't involved or he'd be sure to put in Republicans saying stupid things, for balance.

    For the Republican convention ReasonTV made a delegate interview video just like this one.

    http://www.youtube.com/watch?v=z_NuTWTAXkA

    You are an idiot Zombie.

  • cryptarchy||

    This video proves yet again that the Dems are full of teh stoopid

  • MWG||

    Oh the stupid... it burns...

  • ||

    despite the fact that President Obama's first stimulus still hasn't moved the economy above 8 percent unemployment

    Sure it has. In fact, it's help keep it there.

  • ||

    Why is Bozo the clown big on fair? Maybe it was supposed to be 'fairs'?

    Clearly one must take an IQ test and score below 70 to be admitted into the DNC.

  • Night Elf Mohawk||

    In what bizarro dairyland is taking more of someone else's money so you can keep spending it "fair?"

  • sarcasmic||

    It's not fair that some people have more money than others. That is why taxes must be raised on the rich. To make them less rich.
    You've got to stop thinking and start emoting.
    Think of it this way. The rich don't pay their fair share. How do we know this? Because they're rich! If they paid their fair share then they wouldn't be rich!
    Taxation is a tool for fairness.

  • ||

    You are not clear on the concept of 'fair'. Let me help you out.

    If you have more than I do, it is only fair that I have state agents kick you in the balls and take everything you have and give it to me. Thats only fair.

    See?

  • Almanian's Evil Twin||

    MY LIFE FOR YOU!!

    /DNC-bot

  • Drake||

    The Republicans were absolutely brilliant to go first. As stupid as their convention was, people will remember the Democrats going full-retard.

  • Tim||

    "As you know, you have to spend money to make money..."

    So, four years on, where's the fucking made money?

  • The Hammer||

    Is o3 still going to try to claim that we made a profit on the GM bailout?

  • Killazontherun||

    If you ass sarc tags to everything he writes, his post come across as perfectly reasonable.

  • sarcasmic||

    They didn't spend enough. Federal spending must be doubled before the deficit starts to come down.

    /Krugman

  • Drake||

    Because when I want to make money, I give it to a Marxist idiot.

  • Killazontherun||

    Zach, you missed the perfect opportunity to say, "Well I got the shit kicked out of me in Wisconsin once. Forget it!"

  • Emperor Wears No Clothes||

    Don't tell me you're afraid of Czechoslovakia, too.

  • Sudden||

    From an email I sent to a friend of mine a couple of weeks ago regarding taxes:

    we can actually analyze what the potential net gain from a tax increase on only "the rich" would yield (without accounting for any additional tax-reduction strategies they would use, which they most certainly would). If Barack Obama is being honest (as economists say, "assume a canopener"), he only wants to increase the income tax rate on those above $250k annual income. There are 117,538,000 American households. Per the NYT, 2% of those households pull in over $250k, so the number of households pulling in 250k is 2,350,760 households, the "top 2%."

  • Sudden||

    Based on the article you provided, I did the calculations for the top 1% (multiplied hald the 2% # of households by the article's "average income of 1%" and reached a figure of $1.8 trillion, which equals about 8.3% of GDP. Based on the top 1% pulling in 8.3% of GDP while the top 5% pulls in 28% of GDP, it seems fair to call the share of GDP among the top 2% at about 16% of GDP for argument's sake. That means the top 2% pull in ($15 trill GDP x .16) $2.4 trillion total. Now, Obama claims he wants to only increase taxes on those above $250k, currently the top marginal rate kicks in at $380k and they pay 35%. So let's assume Obama wants to up it to say 50% for anything over $250k (a big increase over even the Clinton era rates which were 39.5% for anything over $380k). We can use the information here to surmise what that additional revenue would be in such a scenario. First things first, since rates under $250k wouldn't change at all, we're looking at $250,000 x 2,350,760 households, or $587 billion dollars that wouldn't be taxed differently at all. That leaves (assuming that 16% of GDP which is essentially more doubling the top 1% than really projecting the top 2%) 2.4 trillion - $587 billion, or about 1.9 trillion that tax rates would change on.

  • Sudden||

    If we're talking about increasing that rate from 35 to 50%, we're looking at a top line projection of additional annual revenue of 15% of 1.9 trillion, or about $285 billion per year. Now that fails to account for the difference between the current top rate at $380k and the projected new top rate of $250k, but at most I would think that difference may increase the figure by half. So increasing the marginal tax rate to 50% for anything over $250k, you're at best getting back maybe $400 billion per year, while our annual deficit right now is nearly three times that. Simple income tax increases aren't enough (and keep in mind, we're treating ALL income over 250k here as subject to federal income tax, the reality is that there will be significant deductions that would render that $400 billion/annum projection as rosy as my Chiefs goggles).

  • Almanian's Evil Twin||

    Cool story, bro

  • sarcasmic||

    Don't forget that increased revenue is always spent, and then some, before it's collected. So any tax increase will likely increase, not decrease, the deficit.

  • Pro Libertate||

    Silly people. Increasing taxes on the rich isn't about increasing federal revenues, debt reduction, or even "fairness." It's a punitive measure. That's it, that's its sole purpose.

  • Killazontherun||

    This. We should be reminded daily. 'Fairness' means 'punish them for their wealth', especially when muttered from an ugly little SEIU troll at the DNC.

  • Mr. FIFY||

    Like Barry told Charlie Gibson:

    "Well, Charlie, what I've said is that I would look at raising the capital gains tax for purposes of fairness."

    Translation:

    "You got yours, now give us half of it, rich white motherfucker."

  • Hyperion||

    Revenue is like a hard drug for these parasites. The more they get, the more they will consume, and the more they will want. There is no end to their gluttony for what others produced. The only possible results are cutting off the parasite or destruction of the host.

  • ||

    I predict that increasing taxes in such a way would result in an explosion of fairness, a massive reduction in tax revenues, and a marked increase in the deficit.

  • Almanian's Evil Twin||

    *fusses with DNC Decoder Ring™*

    Oh! So you hate Obama because he's black. RACIST!

  • ||

    Yeah....uh....I guess that is it. *scratches head*

  • ||

    would result in an explosion of fairness

    Wallstreet and banks are doing great while household wealth is down 40%

    Poverty is rising.

    Students are piling up record debt.

    Blacks are experiencing historically low employment.

    The left only claim to increase fairness and equal outcomes when in fact their policies only create greater disparity.

  • Almanian's Evil Twin||

    Ima cock block my way on back to work now

  • Hyperion||

    has anyone posted this yet?

    Those funny Dems

    How can anyone want to be identified with these fruit loops? The Dems are getting what they asked for by inviting in the insane hordes.

  • Killazontherun||

    Or, maybe she is like some old psychic from an 80's horror novel or movie and not a nutter at all. She has seen visions of the future if Romney is elected, and it's all Dead Zone from here on out.

    You can't really discount that if you just see Romney in your minds eye for a moment. Now watch him grin. Now watch him grin and there is a red button glowing in front of him. Chills, yes?

    If I were the DNC, I would put this woman in a political ad pronto for the good of the country.

  • Hyperion||

    Please send that to them. I really want them to use it.

  • califernian||

    I"m always wondering why all these people concerned with fairness NEVER, NOT ONCE, ever come to the conclusion we should be lowering taxes on the working class.

    WTF

  • ||

    ProL nailed it above.

    "Silly people. Increasing taxes on the rich isn't about increasing federal revenues, debt reduction, or even "fairness." It's a punitive measure. That's it, that's its sole purpose."

    Or, as Heinlein put it;

    "Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded- here and there, now and then- are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.This is known as "bad luck.".

    Priceless.

  • kfs||

    When I watced that clip it just shows that we are so beyond fucked it isn't even funny.

  • kfs||

    SARCASMIC: The comment you left made me piss my pants it was so funny.

  • Francisco||

    i just thought it was funny especially because the author italicized the words, as is often done with foreign language words used in another language, but spelled one of them wrong.

  • Ardelle||

    Yeah, yeah. You don't like Democrats because they're not Red enough for ya, but you're still gonna inevitably vote for them anyway.

  • InlineSkate||

    Something Democrats need to realize is that life isn't fair. Ostracizing people is the exact opposite of fair.

  • InlineSkate||

    Based on income*

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  • Classical Lib||

    "You are with Reason Magazine; I am just a Party chair. We don't have to be reasonable all the time..."

    What more needs to be said?

  • Local Contractors||

    My question is are people thinking about Corporations or small businesses. Whether you are on left or right, we feel that local businesses and people on the local level aren't being heard.

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