One way the US could reduce it's debt

[barryqwalsh]

It is budget day in Ireland, looking at taxation on ttobacco, alcohol and gas, if the US had similar levels of tax it would raise billions.


As of July 31, 2014, the U.S. is $17.6 trillion in debt.
United States National Debt

 

[barryqwalsh]

See the Irish budget.

Budget 2015 The Irish Times

 

[Moonglow]

That idea would be a hit with the GOP...

 

[Moonglow]

But they would call it a tax cut...

 

[barryqwalsh]

How would this go down in America?


On a €10 bottle of wine the tax is €5.50

On a €9.50 packet of cigarettes the tax is €7.72

On a €5 pint of beer the tax is €1.79


On a €83.60 tank of gas the tax is €51.55

These taxes may rise in today's budget.

Budget 2015 The Irish Times

 

[barryqwalsh]

Minister for Finance Michael Noonanhas announced plans to reduce the Universal Social Charge and the higher rate of income tax, and introduce measures that he says will lessen the impact of water charges on working families.

In his budget speech, Mr Noonan also announced plans to abolish the “double Irish” tax loophole; retain a 9 per cent VAT rate for the hospitality sector and reduce the pension levy.

He said Excise Duty on alcohol will not increase and that the price of petrol and diesel will remain unchanged but that the cost of 20 cigarettes is to increase by 40 cent.

Budget 2015 Top income tax rate cut USC rates changed

 

[EdwardBaiamonte]

Minister for Finance Michael Noonanhas announced plans to reduce the Universal Social Charge and the higher rate of income tax, and introduce measures that he says will lessen the impact of water charges on working families.

In his budget speech, Mr Noonan also announced plans to abolish the “double Irish” tax loophole; retain a 9 per cent VAT rate for the hospitality sector and reduce the pension levy.

He said Excise Duty on alcohol will not increase and that the price of petrol and diesel will remain unchanged but that the cost of 20 cigarettes is to increase by 40 cent.

Budget 2015 Top income tax rate cut USC rates changed

debt has plagued America since day one, literally. The best solution by far is to simple make debt illegal and be done with the entire issue forever.

 

[Skull Pilot]

Yeah let's keep raising taxes.

How about we try spending less?

 

[westwall]

It is budget day in Ireland, looking at taxation on ttobacco, alcohol and gas, if the US had similar levels of tax it would raise billions.


As of July 31, 2014, the U.S. is $17.6 trillion in debt.
United States National Debt

I have an even better idea. Let's not spend money we don't have! Wow, what a thought.

 

[EdwardBaiamonte]

It is budget day in Ireland, looking at taxation on ttobacco, alcohol and gas, if the US had similar levels of tax it would raise billions.


As of July 31, 2014, the U.S. is $17.6 trillion in debt.
United States National Debt

I have an even better idea. Let's not spend money we don't have! Wow, what a thought.

liberals oppose that idea I'm afriad. Republicans have always tried t make debt illegal but have always been defeated.

 

[Vigilante]

Obuma's got the answer..... also falls within his GREEN agenda, and just how easy would a dictator have it to control so few?

 

[Henrik]

I think America have helped the World too much and should focus on their own issus and challenges. At the same time, they should release the world from dictatorships, led the world with China and uphold peace. NATO play a leading roll here.

America should focus more on basic ground defense. The navy and airforce is fine and can spread it's power across the world. Still, the active troops should extend and America should buy vechiles and tanks from Russia, China, Europe or whatever.

High-Tech America should decrease in the form of defense departments and so on. A bit extended taxes, (taxes on gasoline and so on). The unemployment is low and should continue to decrease. America should focus on jobs, companies and growth. The defense budget should only cover the neccesary to create a strong and greeen America

 

[jasonnfree]

Minister for Finance Michael Noonanhas announced plans to reduce the Universal Social Charge and the higher rate of income tax, and introduce measures that he says will lessen the impact of water charges on working families.

In his budget speech, Mr Noonan also announced plans to abolish the “double Irish” tax loophole; retain a 9 per cent VAT rate for the hospitality sector and reduce the pension levy.

He said Excise Duty on alcohol will not increase and that the price of petrol and diesel will remain unchanged but that the cost of 20 cigarettes is to increase by 40 cent.

Budget 2015 Top income tax rate cut USC rates changed

debt has plagued America since day one, literally. The best solution by far is to simple make debt illegal and be done with the entire issue forever.

Since America became the richest, most powerful country in the world in spite of this debt "plague", then maybe this debt you worry about so much isn't the plague you think it is.

 

[jasonnfree]

It is budget day in Ireland, looking at taxation on ttobacco, alcohol and gas, if the US had similar levels of tax it would raise billions.


As of July 31, 2014, the U.S. is $17.6 trillion in debt.
United States National Debt

I have an even better idea. Let's not spend money we don't have! Wow, what a thought.

We can always print more money when needed though. Been doing it for decades. This is the advantage of having our own currency. IMO, of course.

 

[Rotagilla]

It is budget day in Ireland, looking at taxation on ttobacco, alcohol and gas, if the US had similar levels of tax it would raise billions.


As of July 31, 2014, the U.S. is $17.6 trillion in debt.
United States National Debt

I have an even better idea. Let's not spend money we don't have! Wow, what a thought.

We can always print more money when needed though. Been doing it for decades. This is the advantage of having our own currency. IMO, of course.

stupidest comment I've seen..in the last 5 minutes.

printing more money leads to inflation and immediately devalues the money already in circulation...not to mention it cheats people who have gvmt bonds and fixed incomes.

Hell.if printing money is the answer, we don't need to pay taxes any more..just print a bunch of paper and voila! all problems solved.

How old are you?
Do you work? Are you making a house payment?

It doesn't appear you even have the remotest clue about economics.

 

[Desperado]

It is budget day in Ireland, looking at taxation on ttobacco, alcohol and gas, if the US had similar levels of tax it would raise billions.


As of July 31, 2014, the U.S. is $17.6 trillion in debt.
United States National Debt

Or we could have our military just protect our country rather than playing world police.
No need to have our troops in 900 bases in a 130 countries.
Time to bring them home.
Ron Paul says U.S. has military personnel in 130 nations and 900 overseas bases PolitiFact

 

[Rotagilla]

We borrow money now just to pay the interest on money we PREVIOUSLY borrowed.We can't even begin to address the principal....

In the real world that is called insolvency.

If the gvmt raised the tax rate to 95% it still couldn't balance the budget at this point.

 

[Saigon]

I think America have helped the World too much and should focus on their own issus and challenges. At the same time, they should release the world from dictatorships, led the world with China and uphold peace. NATO play a leading roll here.

Apart from the fact that the US gives less development aid per capita than almost any othr developed nation - when did the US last "help the World"?

Korea? Viet Nam? Somalia? Grenada?

I give credit to the US role in Europe in WWII, but I don't see a lot of successes after that, myself.

It's strange that you want to release the world from dictatorships - while also leading the world with a dictatorship. Interesting.

 

[Desperado]

I think America have helped the World too much and should focus on their own issus and challenges. At the same time, they should release the world from dictatorships, led the world with China and uphold peace. NATO play a leading roll here.

Apart from the fact that the US gives less development aid per capita than almost any othr developed nation - when did the US last "help the World"?

Korea? Viet Nam? Somalia? Grenada?

I give credit to the US role in Europe in WWII, but I don't see a lot of successes after that, myself.

It's strange that you want to release the world from dictatorships - while also leading the world with a dictatorship. Interesting.

Fine, since it seems you do not appreciate the US aid, I say it should be totally cut off and spent within the borders of the US. The US is not a Charity for the rest of the world.

 

[Henrik]

Apart from the fact that the US gives less development aid per capita than almost any othr developed nation - when did the US last "help the World"?

Well, I think US should maintain a strong military and promote peace with NATO. I think we should follow UN:s goal for 2015 to decrease poverty and devide the hunger. Ensure that children complete primary schooling and that the environmental sustainability is ensured. US most go forward on the assistance area and climate area.

Korea? Viet Nam? Somalia? Grenada?

The intentions on those actions were good in my opinion and it was to release those countries from tyranny. The outcome good become better although.

I give credit to the US role in Europe in WWII, but I don't see a lot of successes after that, myself.

Yeah, US played a leading role against Hitler and after that, US have maintain freedom in the world and should continue to do so. A peaceful development in my opinion include equality and none rasism, and at the same time a strong America which promote those values.

It's strange that you want to release the world from dictatorships - while also leading the world with a dictatorship. Interesting.

Sure, in my interest, democracy should be maintained and supported but we have to look at how the world seems today.