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re: Seriously how is it going to play out with the US national debt?
Posted on 2/9/18 at 12:44 pm to LSUJuice
Posted on 2/9/18 at 12:44 pm to LSUJuice
quote:
that tax cuts lead to increased circulation in the economy, more and higher paying jobs, and thus higher government revenue despite the cuts.
It happened under Reagan. I'm more a fan of a flat tax or Fair tax and abolishing the IRS however.
2
Posted on 2/9/18 at 12:49 pm to Ryne Sandberg
Reason #27,796,622 why I could never be a liberal or a libertarian. They make statements where people can't tell whether you're an idiot liberal, or an idiot libertarian.
Providing for our common defense is one of the handful of constitutionally mandated jobs our treasonous legislative branch takes seriously, if you ignore their piss-poor job on the southern border.
How about we start getting serious by cutting everything the Constitution says the federal government has not only no business, but no authority to be involved in, and see what that does?
If we aren't running multi billion surpluses in very short order after that, then let's take a look at some of the things the Constitution says our federal government is supposed to be doing.
Providing for our common defense is one of the handful of constitutionally mandated jobs our treasonous legislative branch takes seriously, if you ignore their piss-poor job on the southern border.
How about we start getting serious by cutting everything the Constitution says the federal government has not only no business, but no authority to be involved in, and see what that does?
If we aren't running multi billion surpluses in very short order after that, then let's take a look at some of the things the Constitution says our federal government is supposed to be doing.
Posted on 2/9/18 at 12:52 pm to barry
quote:
Who is gonna make us pay it back and what could they possibly threaten us with
Considering most of the debt is held by Americans in the form of T-Bonds, the US taxpayer will make you.
I hope we arent around the day the US refuses to pay out on treasury bonds. The Dollar will become worthless overnight.
quote:
The interest rates we get are laughably small.
For now. If the above happens yoh can wave that bye bye.
Posted on 2/9/18 at 12:53 pm to jdeval1
quote:
I'm more a fan of a flat tax or Fair tax and abolishing the IRS however.
Theres like 4 or 5 departments I would cut overnight if it were up to me. IRS is at the top of the list.
Posted on 2/9/18 at 12:53 pm to jdeval1
quote:
abolishing the IRS
Why do people think this will happen?
-the federal government will collect revenue through some type of tax, income or otherwise
-some department will be in charge of collecting, and enforcing the collection of that tax
So you can call it the IRS or something else but a revenue agency isn't going away. Even if income tax was replaced with some consumption tax (ignoring that there would still likely be at least a corporate income tax)
Posted on 2/9/18 at 12:59 pm to Cocotheape
quote:
Why do people think this will happen? -the federal government will collect revenue through some type of tax, income or otherwise -some department will be in charge of collecting, and enforcing the collection of that tax So you can call it the IRS or something else but a revenue agency isn't going away. Even if income tax was replaced with some consumption tax (ignoring that there would still likely be at least a corporate income tax)
If we had a Fair Tax we wouldn't need the IRS in its current form. A sales tax that's charged at the time that goods are purchased or consumed wouldn't require the leviathan bureaucracy that we have now.
This post was edited on 2/9/18 at 1:01 pm
Posted on 2/9/18 at 1:02 pm to LSUJuice
Hannity and Rush, lol.
Those two are just taking advantage of our gullible mouthbreathers to line their pockets.
Those two are just taking advantage of our gullible mouthbreathers to line their pockets.
Posted on 2/9/18 at 1:06 pm to jdeval1
quote:
President Obama's healthcare law will spend about $2 trillion over the next decade on expanding insurance coverage but still leave 31 million Americans uninsured, according to an analysis from the Congressional Budget Office released on Monday.
If you are comparing this to the $940B estimate proposed in 2009, then you are 100% comparing apples to oranges.
The $940B estimate the CBO provided ranged from 2010-2019, a 10-year period. The updated estimate ranged from 2012-2022, an 11-year period.
Now, if we compare apples to apples (i.e. the original estimate vs. the updated from 2012-2019), we see that the updated estimate increases the cost by only $78B over 8 years.
Original Estimate - Table on page 8
Updated Estimate - Table on page 11
Original Gross Cost from 2012-2019: $933B
Updated Gross Cost from 2012-2019: $1,011B
Posted on 2/9/18 at 1:14 pm to Emiliooo
I take it you do not post on the poliboard.
Posting facts like you have been doing in this thread will get you banned on that board.
Posting facts like you have been doing in this thread will get you banned on that board.
Posted on 2/9/18 at 1:25 pm to Tiger n Miami AU83
Listen, if I wanted to have the feeling of rubbing my nuts across rusty nails, I'd visit the PoliBoard
Posted on 2/9/18 at 1:31 pm to LCA131
quote:
They are approaching a quadrillion in national debt.
Japan isn't approaching a quadrillion. Their national debt is 10 trillion.
Posted on 2/9/18 at 1:35 pm to Emiliooo
quote:
if the point of a tax cut is to stimulate the economy by putting more dollars in peoples pockets to spend, then go for it.
That’s rarely the objective though. If that were the case the middle class would be where you want the tax breaks to go. They are more likely to go and spend that money and put it back into the economy than the rich (and the poor aren’t paying anything anyways). I’m not saying the middle class didn’t benefit, but if economic stimulation were the goal you’d think the scale would be shifted more toward them.
Posted on 2/9/18 at 1:39 pm to LSUTigersVCURams
Crypto currency is the obvious answer.
Posted on 2/9/18 at 1:48 pm to DavidTheGnome
I was talking more in general terms, to be frank, I don't agree with the recent tax cuts that were just enacted.
Posted on 2/9/18 at 2:48 pm to Emiliooo
quote:
I don't agree with the recent tax cuts that were just enacted.
I don't think anyone really does. At least no credible economists, or anyone with a basic understanding of economics and our current fiscal and economic conditions.
Debt financed tax cuts for an economy at full employment? Just no.
Posted on 2/9/18 at 2:56 pm to LSUTigersVCURams
Eliminate the countries we are indebted to
Problem solved
Profit
Problem solved
Profit
Posted on 2/9/18 at 3:20 pm to barry
quote:
Who is gonna make us pay it back and what could they possibly threaten us with
The same ppl we owe the money to and control the interest rates:
The Fed.
Posted on 2/9/18 at 3:27 pm to LSUTigersVCURams
We have an economic system based on infinite growth, but live on a sphere. Something is going to give way. I think it all ends when we don't have enough energy to run industrial civilization, but things may well crash before that if we get another 2008 type situation.
Posted on 2/9/18 at 3:40 pm to LSUTigersVCURams
If it gets too bad, we can always go back to the days of plunder and tribute.
Posted on 2/9/18 at 4:02 pm to Brosef Stalin
quote:
The US is too big to fail.
This mindset is scary...
You never know what will happen in the future and all it takes is something unexpected to happen.. for us to suddenly not become a superpower... Or not as much of a superpower.. We lose our position globally, our economy collapses and no one can really predict what would happen.
I'd rather hear someone say "if everyone works in the best interest of the country and make the right decisions, we will continue to be a country that is unlikely to fail".
But our government is being pulled in many directions.. Too much goes towards special interest.. The foundation can be cracked.
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