Defeat the deficit without raising taxes

The future cost of barrowing due to the facdt that the US has been willing to default on it debt.

You see it has never been done before and once its done the lenders now know some idiot political faction will do it again more readily.,


You are advocating we fuck up our credit score on purpose.


Just like in your own life it will have nothing but bad consequences for this country.
What proof do you have that we will default on our debt? The treasury can pay it's bills, they receive money every day. They just won't be able to borrow more. As old debt is retired they can issue new debt, but only up to the debt ceiling. Default would be a political decision.

Once again you are foolishly believing the doomsday scenario's that your puppet masters are feeding you. You're the board equivalent of Baghdad Bob!:cuckoo::lol::lol:

BaghdadBobImage34.jpg

Oh so you suggest I should believe some internet poster over economists?
 
What proof do you have that we will default on our debt? The treasury can pay it's bills, they receive money every day

This post sums up the flaw of your post well.

Cash comes into and out of the Treasury on a lumpy basis. It's not a smooth continuum. For example

Particular August days will be far worse than the monthly totals suggest. For example, on Aug. 3, we project that the government will have about $12 billion in receipts and $32 billion in committed payments, including a $23 billion Social Security payment. And Aug. 15 presents a triple threat: a $19 billion daily deficit, a $29 billion interest payment and a quarterly refunding auction to pay off a maturing $27 billion bond.

Opinion: Real implications of debt debate - Jerome H. Powell - POLITICO.com

So on August 15, we will have an estimated $12 billion of inflows and a $56 billion obligation to pay bondholders. There is a very good chance that bondholders will not get paid on August 15.

We will generate something like $80-$100 billion in the first half of August. The Treasury rolls debt at least twice a week. Since we won't be rolling that debt anymore, much of that revenue will be eaten by paying back bills, notes and bonds before the August 15 balloon payment.
 
I think they could pay taxes, say $200.00 a year (55 cents a day). If they can't, maybe they need to be in an institution for mental & physical help, instead of enjoying the fruits of freedom on their free ride. You could donate to them, sponsor a poor American for 55 cents a day.

:lol:

"Just think, America. For only fifty-five cents a day....less than the price of a cup of coffee, you could sponsor this washed up former reality TV star and others like him. Your money will go towards critical medical care and to help make Valtrex free to all who need it. You will get pictures and updates twice a year as your reality TV star progresses thru various 12 step programs. If times are tough and you are lucky they may even squat at your house for a month or two. What is more rewarding than that? And it can all happen for just fifty-five cents a day. But remember, only you can make it happen. Only you can make a difference in this bum's life. Call now, operators are standing by."
 
Last edited:
"And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our Lives, our Fortunes, and our sacred Honor." - U.S. Declaration of Independence.

Quit whining and raise the taxes.
 
Sure. Lets raise taxes then sit back and watch the economy take off.

It depends on what you mean by raise taxes. We've gotten to the point where even letting a temporary tax cut expire is considered raising taxes. It's like calling a sale expiring at Walmart a price increase.


I should have said, "Lets get rid of the Bush tax cuts sit back and watch the economy take off."

Better???
 
balanced budget amend. first, then they can let the bush cuts expire, BUT lets just make sure we understand there are already tax increases ( on the 'wealthy', see: evil rich too) in the offing;


snip-

•Starting in 2013, the bill adds an additional 0.9% to the 2.9% Medicare tax for singles who earn more than $200,000 and couples making more than $250,000.

• For first time, the bill also applies Medicare’s 2.9% payroll tax rate to investment income, including dividends, interest income and capital gains. Added to the 0.9% payroll surcharge, that means a 3.8-percentage point tax hike on “the rich.” Oh, and these new taxes aren’t indexed for inflation, so many middle-class families will soon be considered rich and pay the surcharge as their incomes rise past $250,000 due to tax-bracket creep. Remember how the Alternative Minimum Tax was supposed to apply only to a handful of millionaires?

• Also starting in 2013 is a 2.3% excise tax on medical device manufacturers and importers. That’s estimated to raise $20 billion.

• Already underway this year is the new annual fee on “branded” drug makers and importers, which will raise $27 billion.

• Another $15.2 billion will come from raising the floor on allowable medical deductions to 10% of adjusted gross income from 7.5%.

• Starting in 2018, the bill imposes a whopping 40% “excise tax” on high-cost health insurance plans. Though it only applies to two years in the 2010-2019 window of ObamaCare’s original budget score, this tax would still raise $32 billion—and much more in future years.

• And don’t forget a new annual fee on health insurance providers starting in 2014 and estimated to raise $60 billion. This tax, like many others on this list, will be passed along to consumers in higher health-care costs.

more at-

Review & Outlook: Taxes Upon Taxes Upon . . . - WSJ.com
 
Last edited:
balanced budget amend. first, then they can let the bush cuts expire, BUT lets just make sure we understand there are already tax increases ( on the 'wealthy', see: evil rich too) in the offing;


snip-

•Starting in 2013, the bill adds an additional 0.9% to the 2.9% Medicare tax for singles who earn more than $200,000 and couples making more than $250,000.

• For first time, the bill also applies Medicare’s 2.9% payroll tax rate to investment income, including dividends, interest income and capital gains. Added to the 0.9% payroll surcharge, that means a 3.8-percentage point tax hike on “the rich.” Oh, and these new taxes aren’t indexed for inflation, so many middle-class families will soon be considered rich and pay the surcharge as their incomes rise past $250,000 due to tax-bracket creep. Remember how the Alternative Minimum Tax was supposed to apply only to a handful of millionaires?

• Also starting in 2013 is a 2.3% excise tax on medical device manufacturers and importers. That’s estimated to raise $20 billion.

• Already underway this year is the new annual fee on “branded” drug makers and importers, which will raise $27 billion.

• Another $15.2 billion will come from raising the floor on allowable medical deductions to 10% of adjusted gross income from 7.5%.

• Starting in 2018, the bill imposes a whopping 40% “excise tax” on high-cost health insurance plans. Though it only applies to two years in the 2010-2019 window of ObamaCare’s original budget score, this tax would still raise $32 billion—and much more in future years.

• And don’t forget a new annual fee on health insurance providers starting in 2014 and estimated to raise $60 billion. This tax, like many others on this list, will be passed along to consumers in higher health-care costs.

more at-

Review & Outlook: Taxes Upon Taxes Upon . . . - WSJ.com


Good stuff, I wonder sometimes if the left appreciates the fact that we live in a true global economy and that money will go to the places where it makes the most return on investment. Taxes are not the only factor involved, but is does disincentivize foreign and domestic entrepeneurs and investors from starting new businesses here.

So maybe the real question is, do you want more "fairness" or do you want more jobs?
 
Good stuff, I wonder sometimes if the left appreciates the fact that we live in a true global economy and that money will go to the places where it makes the most return on investment. Taxes are not the only factor involved, but is does disincentivize foreign and domestic entrepeneurs and investors from starting new businesses here.

So maybe the real question is, do you want more "fairness" or do you want more jobs?

If a foreign company was thinking of building here in the states, taxes are only one item on a long list of things they would consider.
 
Good stuff, I wonder sometimes if the left appreciates the fact that we live in a true global economy and that money will go to the places where it makes the most return on investment. Taxes are not the only factor involved, but is does disincentivize foreign and domestic entrepeneurs and investors from starting new businesses here.

So maybe the real question is, do you want more "fairness" or do you want more jobs?

If a foreign company was thinking of building here in the states, taxes are only one item on a long list of things they would consider.


True, but why add anything to the list, like higher taxes? I subscribe to the theory that improving the economy and creating more jobs is the single best thing we can do for our economy, AND in the long run it is also the single best way to address the debt/deficits. Yes, maybe we do not get as much revenue now, but it'd be worth it IMHO.
 

Forum List

Back
Top