Short term thinker. Oh boy, like most people so I don't blame you
Atm bonds are very low, but this is no reason to go all nuts on it. Eventually the time comes when we have to either pay the debt or make new debt. And Guess what those new bonds might be a lot more expensive for the state.
Tax cuts are not a 100% loss in revenue. A lot of the money that otherwise is taxed gets invested or spend at a more efficient rate than the government can do. The wars were indeed a big burden on the debt, but the deficit somehow is still amazingly large in the USA and as you may have noticed we in Europe hardly spend a dime on wars and are also in large debts. Now imagine the USA with a large army trying to achieve the social state we have in Europe. It won't be a pretty sight.
There is no thing as a self sustaining social security. It needs to evolve non-stop or else it'll go bankrupt.
The great depression was the great depression because of too much government interference. That's why the last 4 years the economy is in the shitter too.
If he wasn't halted by the republicans Obama would have raised taxes.
High taxes will ruin a countries GDP in these modern times. Take a look at France. They implemented high taxes and soon after plummeted into a recession. Economic activity decreased insanely and tons of "rich" French people are moving out of the country.
The super wealthy pay a lot less taxes because they get most income out of investments. If i buy stocks with my already taxed money i don't want to be taxed at the same rate because i'm taking a lot of risk with my investment that is a boost for the economy.
Anyway, it's not that i want to remove taxes or lower them. I just find it annoying that many people seem to think everything can be solved with higher taxes.