View source for 2011/07/20/0836/link

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* '''link''': [[URL::http://www.weeklystandard.com/articles/not-taking-other-people-s-money_576486.html]]
* '''title''': [[title::headline::Not Taking Other People�s Money]]
* '''author''': [[author::Arthur C. Brooks]]
* '''date''': [[when posted::2011-07-18]]
* '''source''': [[publication::The Weekly Standard]]
* '''summary''': [[summary::&ldquo;The problem with socialists, according to Margaret Thatcher, is that �they always run out of other people�s money.� We haven�t hit that point just yet, but we have hit our nation�s legal credit limit of $14.3 trillion. To avoid defaulting on our loans, policymakers must raise that limit.&rdquo; ...so that we can continue borrowing other people's money.]]
* '''topics''': [[topic::other people's money]] [[topic::2011 US debt ceiling]] [[topic::rhetoric/false/examples]]
* '''arguments''':
** [[argues::The US government should solve its financial problems the way a family would, by reducing expenditures rather than raising revenue.]]
** [[argues::Countries that attempted to solve budgetary problems by reducing expenditures have had a better success rate than those that did so by raising taxes.]]
* '''quotes''':
** [[[quote::But even the president knows he can�t solve the fiscal crisis by helping himself to bigger and bigger chunks of the income of America�s most successful people.]]
*** ''This is followed by a [[straw man]] argument: "Even if individuals earning more than $200,000 were taxed at a 100 percent marginal rate�and we confiscated their passports so they could not flee�the take would come to $1.27 trillion, or just 77 percent of this year�s deficit." Nobody is suggesting taxing at that rate; the serious suggestion is merely to restore taxation of the very rich to Reagan-era levels, which would solve enough of the problem as to render necessary cuts less extreme.
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