Cut Spending

Discussion in 'Economy' started by Toro, Apr 17, 2010.

  1. Toro
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    Toro Diamond Member

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    There is no way the government can pay for everything without raising taxes dramatically. They would have to raise taxes to the point of encouraging widespread tax evasion.

    washingtonpost.com
    http://www.taxpolicycenter.org/UploadedPDF/412018_seeking_revenue.pdf

    That is simply untenable. The government is going to have to cut spending, and dramatically.
     
  2. elvis
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    elvis BANNED Supporting Member

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    i don't see it happening.
     
  3. tigerbob
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    tigerbob Increasingly jaded.

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    I agree they have to. If they do, it will be interesting to see how the impact on certain cornerstone policies is explained.
     
  4. Article 15
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    Article 15 Dr. House slayer

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    End the wars.

    Raise the retirement age.

    Implement across the board cuts on every federal department's budget.

    Start there.
     
  5. Toro
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    Toro Diamond Member

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    I had a conversation with my wife this morning about taking out American citizenship. I always assumed we eventually would. However, with the big tax hikes coming, for the first time, I'm considering not doing so. We probably will, but it was a certainty a few years ago.
     
  6. tigerbob
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    tigerbob Increasingly jaded.

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    If you did, would you have to relinquish your existing (Canadian?) citizenship?
     
  7. tigerbob
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    tigerbob Increasingly jaded.

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    Ending the war(s) would save approx $140bn, based on the 2010 figure from the CRS. Not sure about the other two.
     
  8. Ravi
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    Ravi Diamond Member

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    Amnesty.

    Let those that work pay taxes.

    :eusa_angel:
     
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  9. Samson
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    Samson Póg Mo Thóin Supporting Member

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    First, the Federal government almost never pays for everything....thus the term "deficite spending."

    Second, when they do pay for anything, they have the advantage of simply printing more money. Why raise taxes?

    By the time the inflationary effect of increasing the monetary supply begins, then everyone will be paying more (as a % of their inflated wage).

    The only way to break this cycle is with a Balanced Budget Amendment that LIMITS federal revenue to a proportion the population and the average income.

    Of course, this will attract all sorts of detractors who will wonder about specifics: how much will be cut, from which programs, when, etc.. to balance a budget? And of course, everything the federal government does will be of VITAL IMPORTANCE.
     
  10. JBeukema
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    JBeukema BANNED

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    Not that simple. Once the die is cast, one has no choice but to see the numbers and learn how he fares in the game.

    Pulling out in a responsible manner that won' leave a power vacuum and repeat the mistakes of the past is a whole lot harder than not going tin the first place.
    Should the Fed be allowed to renege on the 'deal' it forced upon the People when it took their money and promised to star supplying supplementary income when they reached a certain age?
    Got to be more specific.

    End corporate wefare.

    Congress doesn't need to get paid $177k/ year. 100k would be more than enough to live comfortably and set some aside for when they're booted out.

    Stop paying farmers to not grow crops


    reduce foreign aid; we must worry about our own people first

    Eliminate federal disability and grants/loans. there is no need for such things to be handles at the federal level. Let the States and private organizations handle such things.

    And pass a constitutional amendment that lets congress only spend as much as was raised through taxation the previous fiscal year, with any additional expenditure being pay-go and required to include a means of paying for itself (taxation, cuts in other spending, etc)
     

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