Atlanta Journal-Constitution reports: Biden wastes no time attacking GOP FairTax plan

[JGalt]

Depends on how much I spend.

30% seems high.

Or a flat 15% income tax for everyone, no exceptions.

10% is what God asks for, government shouldn't ask for one cent more

 

[ColonelAngus]

10% is what God asks for, government shouldn't ask for one cent more

I am on board.

 

[JGalt]

As long as all tax expenditures are removed as well that could work.

The way you do that is enact a bill that charges a legislator a certain percentage of every spending bill he or she votes for.

 

[Zincwarrior]

10% is what God asks for, government shouldn't ask for one cent more

Not certain that would pay for the just the Defense portion of the budget.

 

[JGalt]

Not certain that would pay for the just the Defense portion of the budget.

Why not? The US collected $4.9 trillion dollars in tax revenue in FY 2022

https://www.google.com/url?sa=t&rct...nance-guide/&usg=AOvVaw0PV0QQNZ6fwDj7xYDbS9fc

Discretionary outlays by the federal government totaled $6.27 trillion in FY 2022...

Fiscal Data Explains Federal Spending

Are you saying they couldn't cut spending by $2 trillion dollars and balance the budget?

 

[Zincwarrior]

Why not? The US collected $4.9 trillion dollars in tax revenue in FY 2022

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjk8-qezNb8AhWEj4kEHQr8CAwQFnoECAoQAw&url=https://fiscaldata.treasury.gov/americas-finance-guide/&usg=AOvVaw0PV0QQNZ6fwDj7xYDbS9fc

Discretionary outlays by the federal government totaled $6.27 trillion in FY 2022...

Fiscal Data Explains Federal Spending

Are you saying they couldn't cut spending by $2 trillion dollars and balance the budget?

I am saying a 10% sales tax would drop the collections side.

 

[Leviticus]

Wait, so they call democrats tyrants for proposing a 5 cent increase in the gas tax, and now they are proposing a tax that would be on EVERYTHING including gas, that was literally 6 times that.

 

[Leviticus]

Why not? The US collected $4.9 trillion dollars in tax revenue in FY 2022

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwjk8-qezNb8AhWEj4kEHQr8CAwQFnoECAoQAw&url=https://fiscaldata.treasury.gov/americas-finance-guide/&usg=AOvVaw0PV0QQNZ6fwDj7xYDbS9fc

Discretionary outlays by the federal government totaled $6.27 trillion in FY 2022...

Fiscal Data Explains Federal Spending

Are you saying they couldn't cut spending by $2 trillion dollars and balance the budget?

They can't balance the budget in a way that would be fiscally sound (you know, without completely gutting vital programs, without curttng miltary spending, medicare, and social security, the three prohgrams that get the vast majority of funding.

There is a reason why Republicans, who run on a platform of balancing the budget when they are the minority, have never balanced the budget when they have a majority, even when that majority is coupled with controlling the white house.

 

[Leviticus]

The real issue is that the Republican believe that a 30% universal sales tax would REPLACE all other taxes.

They want to abolish income taxes and think that a 30% sales tax would gover all of the funding. It wouldn't.
If we did what the GOP wants, and cut all programs they oppose, while at the same time abolishing income and corporate taxes and replacing them with a 30% universal tax on all sales then we would be running a deficit.

 

[JGalt]

I am saying a 10% sales tax would drop the collections side.

Then drop the disbursement side and make it even.

 

[Zincwarrior]

Then drop the disbursement side and make it even.

Thats my point, you can't.

 

[Leviticus]

Then drop the disbursement side and make it even.

You would need to gut many vital programs, including defense, social security and medicare in order to balance the budget at that point.

 

[Leviticus]

This is the issue with Republicans. They think economics works like magic.

They think you can ct out 90% of the government's tax revenue, then cut a few "iberal" programs that don't even add up to 10% of the budget and the budget will magically balance itself.

 

[alang1216]

That so called right-wing fringe are true fiscal conservatives and not RINOS.

You do know your 'true fiscal conservatives' are a minority group within a minority party don't you?

 

[Blaster]

You do know your 'true fiscal conservatives' are a minority group within a minority party don't you?

The reason we have such high debt is because of reckless spending by RINOS and Democrats.

 

[BluesLegend]

Not without an IRS.

You underestimate the evil of those mooching parasites.

 

[Lisa558]

You would need to gut many vital programs, including defense, social security and medicare in order to balance the budget at that point.

Well let’s at least start showing SOME concern for all the overspending. We can cut 1% (more, actually) from all programs just by eliminating waste and redundancy. I worked one year for the government, and never in 40 years of working have I seen such total disregard for spending.

As far as SS and Medicare, we MUST make some changes or both systems run out of money. We can take an initial baby step by shifting everything back by 6 months, in terms of retirement age and Medicare, so that SS can begin starting at 62.5 and Medicare 65.5, as well as taxing Income up to $175,000. These small changes can make a significant difference.

 

[Leviticus]

Well let’s at least start showing SOME concern for all the overspending. We can cut 1% (more, actually) from all programs just by eliminating waste and redundancy. I worked one year for the government, and never in 40 years of working have I seen such total disregard for spending.

As far as SS and Medicare, we MUST make some changes or both systems run out of money. We can take an initial baby step by shifting everything back by 6 months, in terms of retirement age and Medicare, so that SS can begin starting at 62.5 and Medicare 65.5, as well as taxing Income up to $175,000. These small changes can make a significant difference.

Republicans have never shown any real concern about overspen. In fact republicans tend to run the country in a higher deficit. The last time this country actually had a balanced budget and was running at a surplus with under Clinton. If trump ran the country at a multi trillion dollar deficit from most of his presidency.

Republican economic policy tends to be cutting taxes while at the same time not cutting spending anywhere near the amount that would be needed to actually balance the budget. They often refuse to cut any spending that would actually be needed to balance of the budget and focus Solely on cutting programs that Make up a very very small part of overall spending that they consider liberal programs, But protecting spending such as defense and the other programs that they themselves support.

There has never been any legitimate attempt to actually balance the budget by Either party.

 

[pknopp]

You would need to gut many vital programs, including defense, social security and medicare in order to balance the budget at that point.

No you wouldn't. First all programs could be cut without affecting a single aspect of what is supposed to be done by those programs. All are bloated with corruption, duplicity and incompetence. All it would take is people running things willing to address this. These things help fill campaign coffers though.

Second you make the rich pay their fair share just like Biden said but completely ignored as usual. That wasn't done because that hurts the campaign money coming in.

Considering this, I think this would fit into the thread noting how both parties are the same in the end.

 

[alang1216]

The reason we have such high debt is because of reckless spending by RINOS and Democrats.

Not an answer to the question but do you think unfunded tax cuts might be a factor?