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With US GDP consisting of 70% consumer spending, how will raising taxes help anything at all?
January 8th, 2012 | 
Author: Question by : With US GDP consisting of 70% consumer spending, how will raising taxes help anything at all?
Best answer:
Answer by Ryan
You’re right we’re a nation with no productive capacity and a pitiful attempt to plug a gaping hole with a band-aid wont do much.
What do you think? Answer below!
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People will buy more goods when they are more expensive……Liberal economics 101.
Not raising taxes on the top 2% will cost us 700 billion dollars.
Millionaires are not spending their money here anyhow
it wont
People are saving more this past year than every before.
Because the money is tight.
People do not want to spend when they are short of money.
If raising tax meaning less in the pockets, people will spend even less.
Instead of raising tax on income tax, cut income tax.
Instead raise the sales tax. Those who spend will pay for it, minus the essentials like food.
I propose a progressive sales tax system.