Or parts of other programs are cut. It doesn't automatically have to be sliced out of the defense budget.
Err, I meant if everything else was cut. Everything else is a paltry sum. So yes, defense has to be cut, or revenue has to be raised. A part of the problem is we can no longer 'put off' interest when this happens.
But they end up with less money anyways since it's taken from them in taxes.
Hint: Money isn't wealth. Money is not meant to be hoarded. Money is meant to be exchanged for goods, services, and investments. When money is being hoarded, as it is now, the result is a liquidity crisis - interest rates remain low, unemployment remains high, the rich get richer because even though the rest of the country is not earning any more, they are producing more for the rentier class.
Any gain would be minumal at best.
A brief glance at history shows that you are wrong. Libertarians cite the Long Depression as their ideal society. The Long Depression gave us robber barons, oil monopolies, company towns and scrip.
The Long Boom, which Keynsians cite
- Gave us the computer
- Gave us the Internet
- Landed a man on the moon
- Saw the establishment of the Middle Class
- Saw the greatest rise of standard of living in world history
If I made alot of money and had 70-90% of it taken away in taxes, that would motivate me to do one of three things. Either find every single tax loophole I could to lower my tax rate,
I've pointed out the perfect, legally accepted loophole each and every time we've had this discussion. And each and every time, you have ignored it.
move my business oversees to avoid US tax law or just stop making as much.
Then good riddance to bad rubbish. Someone more respectable will take your place.
Name one brilliant inventor that started
The people with money are not this nation's best and brightest. The conservative movement, as a whole, has in fact been about denigrating this nation's best and brightest. Those who sacrifice of themselves to do great things for this nation and this world. Especially in the military. They happily cut armor for troops and veteran's benefits, hamper their ability to vote all the while going on a warpath.
There is nothing honorable about that. It's deplorable, disgusting. I find the fact that people on the right, even on these forums, even tolerate that shit with their silence is disgusting. How much more of this before we get a Pol Pot or Great Leap Forward in America? An actual war on the 'intellectual class'? Do you seriously think that that is a good thing, and if not, why tolerate it?
A question then. What would the money reinvested in? With the current Legislative and Executive branches, I cannot see them doing anything intelligent with if. Nor do I see them reigning in any spending. What I can see them doing is spending even more money since more is coming in.
In Keynesian practice, the idea is yes, pay down the debt after the economy recovers. Take a look at the big ticket items
- Universal Healthcare. Every insurance is just another form of tax. This actually saves the nation as a whole about $400 billion per year. Not doing it is crazy.
- Reducing reliance on fossil fuels. These are, largely, initial investment expenses. You invest directly in various startups and nuclear power stations. I would prefer keeping nuclear power production out of private hands and in an easily audited local public level, though, to prevent another e.g. Fukushima.
- Rebuilt ailing infrastructure. Roads, bridges, etc. Again, these are mostly one-time expenses.
- I would be happy to see a reinvigorated space program with a real budget more comparable or even exceeding the military's. At least it would be something to be truly proud of, rather than spending $700 billion per year and gloating about how efficiently we can kill brown people.
And the simple solution to making sure that they do in fact pay down the debt when it is done is to stop electing liars who claim to be conservative.