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Started By
Message
re: Tax revenues hit all time high for FY 2014
Posted on 8/15/14 at 1:55 pm to Powerman
Posted on 8/15/14 at 1:55 pm to Powerman
quote:
Because that would suggest that there is an improvement in economic activity
False
Year GDP Growth
2010 2.5%
2011 1.6%
2012 2.3%
2013 2.2%
LINK
2014 is currently growing at an annualized rate of less than 2%
LINK
I know that you think very highly of yourself and enjoying putting those down that question you but perhaps you will rethink your response to me after see the above data. The truth is that the government is taking more than ever in history and it has almost nothing to do with an improvement in economic growth. Again I ask, how is it possibly a good thing that the government is taking more from it's citizens?
1
Posted on 8/15/14 at 1:57 pm to stuntman
quote:
You're looking at trends differently than I do. The trend I see is a constant, massive growth of debt, which has major consequences.
Eh I guess you don't know much about second derivatives.
quote:
This is how you're looking at it: 1) year one, I gain 50 lbs. Year two, I only put on 25 lbs. You would claim that I'm "moving in the right direction".
Stupid analogy that doesn't translate into economics.
Another more relevant metric to compare it to might be population growth. Global population is increasing but the rate at which it is increasing (think second derivative) is declining. Thus we won't have some spiraling out of control global population problem.
Posted on 8/15/14 at 1:57 pm to inelishaitrust
quote:You do realize the increase in revenue is due to the expiration of pay-roll tax cuts for all workers, right?
The folks who think that the difference between 35% and 39% is catastrophic have apparently never read a history book. I would like to note that the capital gains rate remained unchanged.
Posted on 8/15/14 at 1:58 pm to Powerman
quote:
Not when you compare it to a 600 billion dollar deficit
The worse deficits in the history of mankind have been in the years 2009, 2010, 2011, 2012, 2013 and CBO projects 2014, 2015 and 2016 will join that list.
See a common theme?
Posted on 8/15/14 at 1:58 pm to Radiojones
quote:
Again I ask, how is it possibly a good thing that the government is taking more from it's citizens?
Because that money is needed to mitigate the growth of the national debt.
Posted on 8/15/14 at 1:59 pm to igoringa
quote::raises hand: Bush's fault?
See a common theme?
Posted on 8/15/14 at 1:59 pm to Taxing Authority
Or Romney's horse?
Posted on 8/15/14 at 2:01 pm to Powerman
quote:
The point is a 460 billion dollar deficit is nothing historically large and not anything anyone cared about a decade ago.
Any reason you are not annualizing the 10 month 460 billion when comparing to prior years.
Is it stupidity or deceit? I will let you choose.
This post was edited on 8/15/14 at 2:03 pm
Posted on 8/15/14 at 2:02 pm to igoringa
quote:
The worse deficits in the history of mankind have been in the years 2009, 2010, 2011, 2012, 2013 and CBO projects 2014, 2015 and 2016 will join that list.
False
Posted on 8/15/14 at 2:03 pm to Powerman
quote:
Because that money is needed to mitigate the growth of the national debt.
at the expense of overall economic growth (thus low GDP growth numbers)
its actually EXACTLY what the "narrative" of this board was:
short term gains in tax revenue in exchange for lower economic growth. in the long term, that usually results in lower tax revenues (maybe not in real dollars, but certainly in terms of opportunity cost)
but go on believing you are the only one here with any economic knowledge. its cute.
Posted on 8/15/14 at 2:04 pm to Powerman
quote:Deficits are expected to rise again starting in 2017, and continue to increase from then on, according to cbo.
Powerman
Posted on 8/15/14 at 2:09 pm to Powerman
If memory serves me correctly, you and Capt Rusty had a massive debate about second derivatives. So, anyone who had any questions about them were answered in that thread. 
Anyway, mine was an apt analogy. Even if we add only one dollar per year to this debt, when interest rates finally rise, the payments on this debt are going to skyrocket. So, cutting into the debt (losing weight) is extremely important.
Anyway, mine was an apt analogy. Even if we add only one dollar per year to this debt, when interest rates finally rise, the payments on this debt are going to skyrocket. So, cutting into the debt (losing weight) is extremely important.
Posted on 8/15/14 at 2:09 pm to igoringa
This is usually about the point where Powerman vanishes from his thread. 
Posted on 8/15/14 at 2:09 pm to Powerman
Go to the actual OMB site and click on "Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits (-): 1789–2019"
Here are the figures, straight from the source:
Year Surplus/Deficit
2000 236,241
2001 128,236
2002 -157,758
2003 -377,585
2004 -412,727
2005 -318,346
2006 -248,181
2007 -160,701
2008 -458,553
2009 -1,412,688
2010 -1,294,373
2011 -1,299,593
2012 -1,086,963
2013 -679,502
2014est -648,805
Here are the figures, straight from the source:
Year Surplus/Deficit
2000 236,241
2001 128,236
2002 -157,758
2003 -377,585
2004 -412,727
2005 -318,346
2006 -248,181
2007 -160,701
2008 -458,553
2009 -1,412,688
2010 -1,294,373
2011 -1,299,593
2012 -1,086,963
2013 -679,502
2014est -648,805
Posted on 8/15/14 at 2:16 pm to Powerman
quote:
There was never any expectation that we would be running a massive surplus or even have a balanced budget this year. So yes it's bad in comparison to retarded unrealistic expectations that exist in fantasy world. But it's good compared to where we have been the last few years.
Oh, I promise you had Obama eliminated the deficit entirely, these same arse hats would say "But we're $17t in debt - eliminating the deficit is nothing. He hasn't done squat about the real problem".
Posted on 8/15/14 at 2:17 pm to a want
quote:
Oh, I promise you had Obama eliminated the deficit entirely, these same arse hats would say "But we're $17t in debt - eliminating the deficit is nothing. He hasn't done squat about the real problem".
There are loons on both sides. You ignore ours and I'll ignore yours. Deal?
Posted on 8/15/14 at 2:20 pm to a want
quote:
Oh, I promise you had Obama eliminated the deficit entirely, these same arse hats would say "But we're $17t in debt - eliminating the deficit is nothing. He hasn't done squat about the real problem".
First off, thank you for the compliment
If Obama or any president could eliminate the deficit without raising taxes or raiding Social Security it would be a wonderful thing. I think that almost everyone on this board would be praising him if he were able to do this.. Hell, I would praise him if he could actually get the Democratic controlled Senate to pass a budget.
Posted on 8/15/14 at 2:21 pm to a want
quote:The point is that the deficit is temporarily declining, which means no policy change was the cause of the decrease.
a want
Get this, though. We are taking more money out of Americans' pockets than ever before, and we still have 600 billion dollar deficits.
Posted on 8/15/14 at 2:24 pm to a want
quote:
Oh, I promise you had Obama eliminated the deficit entirely, these same arse hats would say "But we're $17t in debt - eliminating the deficit is nothing. He hasn't done squat about the real problem".
Thus we should celebrate the fact that he is going 8 for 8 on the worse deficits in history? Who is the arse hat?!?
As I mentioned a hundred times, W spent like a drunken sailor but he is nothing remotely close to what this guys has done. Not remotely close. And the numbers are undeniable.
But yes... arse hat because the facts upset you.
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