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Posted on 7/21/20 at 10:24 pm to wutangfinancial
quote:The quest then becomes can they retain control when the government checks stop flowing. Not just talking about SS, but everything else too. We saw how political fortunes changed, and collapse came in the USSR. We won’t be much different.
Remember when they can't control the bond market they won't be about to issue debt perpetually at 0% rates.
Posted on 7/21/20 at 10:43 pm to Mrtommorrow1987
Well when the libs want to prove their socialist ideals work they need the world bank and some to fund it.
Posted on 7/21/20 at 10:47 pm to Taxing Authority
I think there will be EU type problems where some states are providing all of the economic output and the rest piggyback off their tax dollars like Germany in 2020. You can already see that people are flocking from expensive, highly populated states and it's already causing government financing problems.
Posted on 7/21/20 at 10:49 pm to Mrtommorrow1987
Only the rich will be taxed and they will gladly pay it. I am sure they are not going to pass it on to us by raising prices of the stuff we buy or move our jobs over seas.
Posted on 7/21/20 at 10:55 pm to jimbeam
quote:
Don’t worry only rich people will pay that and normal people don’t be affected
Shocked face as normal people find out the IRS considers them rich
Posted on 7/22/20 at 12:13 am to Mrtommorrow1987
But, the scumbags who suck the teets of society pay nothing and the unwashed illegal invaders don't either but get huge handouts from bidens gang. He's nothing more than a Chinese robot.
Posted on 7/22/20 at 12:20 am to Mrtommorrow1987
I am not going to rehash the figures but the next POTUS will be forced to raise taxes to some degree unless you wish to become Greece.
My bet is it is going to be raised slowly over a decade or so rather than a single tax increase.
My bet is it is going to be raised slowly over a decade or so rather than a single tax increase.
Posted on 7/22/20 at 12:20 am to BarberitosDawg
I feel like the people around Biden are tanking his campaign on purpose
Posted on 7/22/20 at 12:23 am to Magician2
quote:Yes. And also, tax receipts are on the low end of their historical range.
Link to his comment?
Posted on 7/22/20 at 2:13 am to Big Scrub TX
quote:
Yes. And also, tax receipts are on the low end of their historical range.
Based on percentage of what? What metric are you comparing tax revenue to? Because total receipts keep climbing.
Posted on 7/22/20 at 2:27 am to MrLSU
quote:
Hey man my Universal Childcare and Elderly Care aren't going to pay for themself.
Don't be a buffoon.
We have been borrowing money to pay the interest to folks we borrowed money from in the first place, should they decide to stop the merry go round the jig is up.
Thanks to pandering politicians and shite for brains citizens who demand a free lunch we are buried in debt, our interest payments alone increase about 50 billion a year.
Any rational adult knows taxes are going up.
Posted on 7/22/20 at 5:38 am to Mrtommorrow1987
Nah just change the tax rate for business to 28 from 21. Trump lowered the tax from 35 to 21 so stop with the hyperbole
Posted on 7/22/20 at 5:40 am to Mrtommorrow1987
of course he does...
Posted on 7/22/20 at 7:21 am to RolltidePA
quote:
This is the entry way into taxing your 401k and other retirement income.
You're a little behind.
Bill Clinton wanted to do this 25 years ago. The only thing that stopped him was the election of Newt Gingrich as Speaker of the House. Once the Dems lost the House, they couldn't pass the bill.
Dems have HATED private retirement accounts like the 401(k) since they were created because they have no mechanism to tax them in the interest of "fairness".
Posted on 7/22/20 at 10:53 am to TenWheelsForJesus
quote:GDP
Based on percentage of what?
Posted on 7/22/20 at 11:06 am to Mrtommorrow1987
quote:
If every citizen including children were taxed at an equal rate it would be 25k in taxes per year.
That's not realistic. You should put the number in terms of the median taxpayer or households. Either number will be significantly higher.
Posted on 7/22/20 at 11:13 am to Mrtommorrow1987
As much as I hate it, I sometimes think the only way we will fix this country is to have these idiot Dems get elected and enact these policies.
The outrage after reality hits will kill the left and they may never get elected again.
But yes the recovery will be painful
The outrage after reality hits will kill the left and they may never get elected again.
But yes the recovery will be painful
Posted on 7/22/20 at 11:15 am to gsvar2004
quote:
Joe Biden has no fricking clue what he wants. Hell he don’t even know where he is most the time
Biden is just reading a script from his Marxist handlers. He is clueless
Posted on 7/22/20 at 11:21 am to memphis tiger
quote:
As much as I hate it, I sometimes think the only way we will fix this country is to have these idiot Dems get elected and enact these policies.
The outrage after reality hits will kill the left and they may never get elected again.
But yes the recovery will be painful
This is where I'm at. I'm sick of the slow walk to socialism. Let's hit it hard so people can see the true reality of what it is.
A great comparison is the French revolution, they were so occupied with tearing everything down that they never knew what they were really going to do when they got what they wanted. What happened after the French revolution? They appointed a dictator and then eventually re-established the very monarchy they initially tried to overthrow.
Give the leftists what they want and let them stew in their own shite.
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