Chart of the Century- Entitlements Will Consume All Tax Revenues by 2049

Discussion in 'Politics' started by Trajan, Aug 7, 2011.

  1. Trajan
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    Trajan conscientia mille testes

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    Seems to me this, is the issue.

    Defense which hit a low I believe of 290 Billion in 97 is amendable to reduction because it is not classified as a mandatory spend, aside from iraq & afghan., that spending was 560 Billion, with Iraq Afghan add 168 billion for this year.

    That being said, even deducting all discretionary spending — defense, homeland security, education, welfare, all of it, we would still be deficit spending $300-400 billion a year via the mandatory entitlement spending.

    You are not going to find 300-400 Billion ( in TODAYS estimates) of taxes without taxing everyone, hard, say 60k on up to and thru the millionaire class....

    Like it or not; the middle class is where the money is, even stalwart progressive thinkers at the New Republic recognize that fact. Who's up for that?


    [​IMG]
    hat tip- Hot Air.com
     
  2. LordBrownTrout
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    LordBrownTrout Gold Member

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    Even if they mounted us side saddle and from behind, I think there's only about three trillion out there in private monies, that including everyone in the US. They'd never recoup all of their debt owed through our private monies.
     
  3. Trajan
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    Trajan conscientia mille testes

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    well, apparently tough nuts are hard to swallow;)
     
  4. Rozman
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    Rozman Gold Member Supporting Member

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    Our problem as the left sees it is we just don't spend enough on entitlements...for example they want another extension of unemployment benefits given to people who have already collected for 99 weeks.

    We just don't spend enough....the Democrat battle cry.
     
  5. dilloduck
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    dilloduck Diamond Member

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    So the idea of borrowing more and more money forever will fail ? :eek:
     
  6. Sactowndog
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    Sactowndog Active Member

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    So Trajan-

    Given that I agree with your chart, and it's a ticking time bomb, why would you not agree to minimal revenue increases to address this train wreck? Obama was willing to address Medicare which is the biggest chunck. And if Obama wants more revenue enhancements agree and trade them off with more cuts to entitlements.

    My major issue with House Republicans is the revenue enhancements in the Gang of 6 plan were completely reasonable. They walked away from a deal to address Medicare because they threw a hissy fit over a modest revenue increase.

    You are right it is a problem but House Republicans fucked up fixing it.
     
  7. kyzr
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    kyzr Gold Member

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    This is the chart that the 2012 election will be fought over. The GOP will say to cut entitlements, and the dems raise taxes on the wealthy, close tax loop-holes, and end subsidies. The <<<<<spin>>>>> on this issue will be dizzying...
     
  8. Toro
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    Toro Diamond Member

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    Gotta reform entitlements. The math doesn't work.
     
  9. Zander
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    Zander Platinum Member

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    The only way out of the mess is entitlement reform and tax reform. We have bad choices, or catastrophic choices. No easy way exists. Sorry people, government is not your mommy.
     
  10. BoycottTheday
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    BoycottTheday CEO

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    At this rate does anyone really think there will be a USA 2049 to worry about?
     

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