If the US budget was a family Budget

[akelch]

Thought I would share.
If the US federal budget was a average American family budget.

Income is $60,000
Yearly expenses is $88,500

Total Debt is $380,400

*number are rounded off for simplicity.

 

[Wry Catcher]

Thought I would share.
If the US federal budget was a average American family budget.

Income is $60,000
Yearly expenses is $88,500

Total Debt is $380,400

*number are rounded off for simplicity.

Well that's a silly (dull) point. The US Government is not an average family budget and our country's assets far exceed the debt.

 

[akelch]

Just showing how hard it will be to pay down the debt with our current spending habits.
I was using simple numbers for better understanding. The amounts get lost sometimes when throwing around millions, billions, and trillions.

 

[KissMy]

The people earning above $350k need to start paying a higher percentage of their income in taxes than the middle class. We can't compete if our product cost more because we have to pay more tax than the rich. This tax system is a huge benefit to the rich & a huge burden to the middle class. If a middle class person made widgets, they would cost more than the rich widgets because the middle class widget maker has to pay more tax per widget. This drives all the middle class out of business, into poverty & onto the government dole every time the rich wants to compete.

Don't fall for the tax rate nonsense. Effective tax rates are what you must go by. The loopholes & low dividend tax rate are the whole problem. When you look at total tax revenue & not just income tax, the rich are actually paying lower effective tax rate than the poor/middle class. Government is letting the people at the top pay a lower percent tax than the rest.

Investment flows to where it receives a greater return. That means if the rich are taxed less thereby producing more efficiently than the rest of us who are taxed more, we all become surf's & they become our super wealthy masters. That is what is wrong with this country. All forms of income including dividends must be taxed at the same rate. Loopholes for the rich must be eliminated. According to free market capitalist Adam Smith the father of modern economics there should also be a slight progressiveness to taxes that allows the people at the bottom pay a lower rate than the people at the top. Currently it is inverted & regressive.

If you want to become a peasant that is forced to kiss the shoes of your rich masters then by all means keep with the current tax scheme. Mitt Romney only paid 13% in taxes. That is as low of a tax rate as someone in poverty. By all means worship the ground he walks on & kiss his ass every hour.

 

[DiamondDave]

No.. shithead... if you want equality in other areas and scream for unequal treatment in taxation because it benefits you or your cause, and makes you feel good or 'charitable'.. then you are a fucking hypocrite

This system is not some 'huge benefit' for the rich.. it is a huge benefit for anyone earning an income who pays ZERO in federal income tax... and that is not the 'rich'

 

[KissMy]

No.. shithead... if you want equality in other areas and scream for unequal treatment in taxation because it benefits you or your cause, and makes you feel good or 'charitable'.. then you are a fucking hypocrite

This system is not some 'huge benefit' for the rich.. it is a huge benefit for anyone earning an income who pays ZERO in federal income tax... and that is not the 'rich'

Sorry the facts don't agree with your fantasy. Sorry you are not rich enough to pay lower taxes. Unfortunately I pay 28% taxes to carry your sorry ass through your miserable life.

At least by your stupid statement we now know you envy the rich can kiss the ass of your master better than most. Romney really needs you to sooth his but-hurt with your lips after his big defeat.

 

[DiamondDave]

No.. shithead... if you want equality in other areas and scream for unequal treatment in taxation because it benefits you or your cause, and makes you feel good or 'charitable'.. then you are a fucking hypocrite

This system is not some 'huge benefit' for the rich.. it is a huge benefit for anyone earning an income who pays ZERO in federal income tax... and that is not the 'rich'

Sorry the facts don't agree with your fantasy. Sorry you are not rich enough to pay lower taxes. Unfortunately I pay 28% taxes to carry your sorry ass through your miserable life.

At least by your stupid statement we now know you envy the rich can kiss the ass of your master better than most. Romney really needs you to sooth his but-hurt with your lips after his big defeat.

The rich pay less than Zero?? That is news to me and to anyone else dealing in facts

I am a proponent of a flat tax.. zero deductions, zero exemptions, zero exceptions on every dollar earned by every citizen... You favor a system where you complain that the 'rich' don't pay enough while close to half of all adult citizens pay ZERO... and you proclaim you are looking for something fair?? PUH-LEASE

And funny, bitch.. I did not vote for Romney.. but nice try

 

[jillian]

Thought I would share.
If the US federal budget was a average American family budget.

Income is $60,000
Yearly expenses is $88,500

Total Debt is $380,400

*number are rounded off for simplicity.

jeeze... another one of these dumbass threads.....

a family with a budget wouldn't voluntarily cut its income than run up its credit card.

thanks for playing.

 

[TNHarley]

No.. shithead... if you want equality in other areas and scream for unequal treatment in taxation because it benefits you or your cause, and makes you feel good or 'charitable'.. then you are a fucking hypocrite

This system is not some 'huge benefit' for the rich.. it is a huge benefit for anyone earning an income who pays ZERO in federal income tax... and that is not the 'rich'

Sorry the facts don't agree with your fantasy. Sorry you are not rich enough to pay lower taxes. Unfortunately I pay 28% taxes to carry your sorry ass through your miserable life.

At least by your stupid statement we now know you envy the rich can kiss the ass of your master better than most. Romney really needs you to sooth his but-hurt with your lips after his big defeat.

Just wait, you will need your ass soothed as well. Well all got fucked. Not just the contributors to society and the informed citizen

 

[Politico]

If the US budget was a family Budget

I'd be living in a box under a bridge.

 

[DiamondDave]

Thought I would share.
If the US federal budget was a average American family budget.

Income is $60,000
Yearly expenses is $88,500

Total Debt is $380,400

*number are rounded off for simplicity.

jeeze... another one of these dumbass threads.....

a family with a budget wouldn't voluntarily cut its income than run up its credit card.

thanks for playing.

A family with a budget may have to take a pay cut.. and when they do, generally they don't spend as much.. unless they are a bunch of dumb asses who think that it is the job of others to bail them out while they just spend frivolously

 

[akelch]

The people earning above $350k need to start paying a higher percentage of their income in taxes than the middle class. We can't compete if our product cost more because we have to pay more tax than the rich. This tax system is a huge benefit to the rich & a huge burden to the middle class. If a middle class person made widgets, they would cost more than the rich widgets because the middle class widget maker has to pay more tax per widget. This drives all the middle class out of business, into poverty & onto the government dole every time the rich wants to compete.

Don't fall for the tax rate nonsense. Effective tax rates are what you must go by. The loopholes & low dividend tax rate are the whole problem. When you look at total tax revenue & not just income tax, the rich are actually paying lower effective tax rate than the poor/middle class. Government is letting the people at the top pay a lower percent tax than the rest.

Investment flows to where it receives a greater return. That means if the rich are taxed less thereby producing more efficiently than the rest of us who are taxed more, we all become surf's & they become our super wealthy masters. That is what is wrong with this country. All forms of income including dividends must be taxed at the same rate. Loopholes for the rich must be eliminated. According to free market capitalist Adam Smith the father of modern economics there should also be a slight progressiveness to taxes that allows the people at the bottom pay a lower rate than the people at the top. Currently it is inverted & regressive.

If you want to become a peasant that is forced to kiss the shoes of your rich masters then by all means keep with the current tax scheme. Mitt Romney only paid 13% in taxes. That is as low of a tax rate as someone in poverty. By all means worship the ground he walks on & kiss his ass every hour.

Funny how it seems to always come back to taxes.

 

[Rshermr]

Thought I would share.
If the US federal budget was a average American family budget.

Income is $60,000
Yearly expenses is $88,500

Total Debt is $380,400

*number are rounded off for simplicity.

Well that's a silly (dull) point. The US Government is not an average family budget and our country's assets far exceed the debt.

Nice post. Problem is, though you are absolutely correct, con's do not want to believe it. So, since they do not want to, they simply do not. Strange ability that cons have, to believe what they want. But, in addition, we will never see the debt reduce until we attain full employment. Look at the great depression. Or look, much more recently at the Clinton admin. Takes stimulus, which may initially increase the deficit and national debt. But, in a short time, full employment will result and the deficit will go in the correct direction. Hell, could even have a deficit, as in the clinton admin.

 

[ba1614]

The average debt per citizen in Greece is approx 38grand, the average debt per American is over 50grand.

Hold on tight everyone!!

 

[Rshermr]

No.. shithead... if you want equality in other areas and scream for unequal treatment in taxation because it benefits you or your cause, and makes you feel good or 'charitable'.. then you are a fucking hypocrite

This system is not some 'huge benefit' for the rich.. it is a huge benefit for anyone earning an income who pays ZERO in federal income tax... and that is not the 'rich'

Pays no income taxes. uh, you mean like General Electric?

 

[DiamondDave]

No.. shithead... if you want equality in other areas and scream for unequal treatment in taxation because it benefits you or your cause, and makes you feel good or 'charitable'.. then you are a fucking hypocrite

This system is not some 'huge benefit' for the rich.. it is a huge benefit for anyone earning an income who pays ZERO in federal income tax... and that is not the 'rich'

Pays no income taxes. uh, you mean like General Electric?

Do you see me defending something other than a flat tax for business as well?? You see me defending loopholes for business on taxation?? Nope.. but nice try

 

[Rshermr]

No.. shithead... if you want equality in other areas and scream for unequal treatment in taxation because it benefits you or your cause, and makes you feel good or 'charitable'.. then you are a fucking hypocrite

This system is not some 'huge benefit' for the rich.. it is a huge benefit for anyone earning an income who pays ZERO in federal income tax... and that is not the 'rich'

Pays no income taxes. uh, you mean like General Electric?

Do you see me defending something other than a flat tax for business as well?? You see me defending loopholes for business on taxation?? Nope.. but nice try

Seem to have hit a sore spot. What is your problem with my question. Just pointing out that there are a whole lot of corporations paying no taxes. Zero is the most common percentage paid by corporations.
And the flat tax is A. Stupid, and B. A non starter.

 

[DiamondDave]

Pays no income taxes. uh, you mean like General Electric?

Do you see me defending something other than a flat tax for business as well?? You see me defending loopholes for business on taxation?? Nope.. but nice try

Seem to have hit a sore spot. What is your problem with my question. Just pointing out that there are a whole lot of corporations paying no taxes. Zero is the most common percentage paid by corporations.
And the flat tax is A. Stupid, and B. A non starter.

If a corporation makes no profit, generally it pays no taxes.. well except on purchases, etc....

Zero is not the most common rate paid by corporations

The flat tax is equality in treatment, or otherwise stated NOT STUPID....

 

[akelch]

Do you see me defending something other than a flat tax for business as well?? You see me defending loopholes for business on taxation?? Nope.. but nice try

Seem to have hit a sore spot. What is your problem with my question. Just pointing out that there are a whole lot of corporations paying no taxes. Zero is the most common percentage paid by corporations.
And the flat tax is A. Stupid, and B. A non starter.

If a corporation makes no profit, generally it pays no taxes.. well except on purchases, etc....

Zero is not the most common rate paid by corporations

The flat tax is equality in treatment, or otherwise stated NOT STUPID....

Corporations pay no taxes....they collect them from their customers by passing the cost on to them.

Thus, corporations pay 0%
Consumers pay 100% of taxes.

So let us save everyone time and energy and pass a consumption tax and get rid of all corporate taxes.

 

[DiamondDave]

Seem to have hit a sore spot. What is your problem with my question. Just pointing out that there are a whole lot of corporations paying no taxes. Zero is the most common percentage paid by corporations.
And the flat tax is A. Stupid, and B. A non starter.

If a corporation makes no profit, generally it pays no taxes.. well except on purchases, etc....

Zero is not the most common rate paid by corporations

The flat tax is equality in treatment, or otherwise stated NOT STUPID....

Corporations pay no taxes....they collect them from their customers by passing the cost on to them.

Thus, corporations pay 0%
Consumers pay 100% of taxes.

So let us save everyone time and energy and pass a consumption tax and get rid of all corporate taxes.

True.. we know that corporations basically shift any taxes over to the consumer.. but in terms of fed tax paperwork, the do pay taxes on profit.. and that is what I was getting at