One way the US could reduce it's debt

[OnePercenter]

Here's the answer:

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 300 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure. Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

--Payroll taxes will triple.

--Social Security will be totally funded by removing the FICA limit.

--Sales tax revenue will increase dramatically.

 

[Henrik]

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.

I think America should focus on maintaining the values of freedom, peace and prosperity. To maintain those goals, America's military should be strong.

 

[Saigon]

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.

Again - the US gives less development aid per capita than almost any other country.

I appreciate that the US gives a lot of money, but I'd prefer the US paid the same proportion as others do. Is there a reason you should not pay your share?

 

[Saigon]

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.

I think America should focus on maintaining the values of freedom, peace and prosperity. To maintain those goals, America's military should be strong.

You know, you could do A LOT more to enhance those values without using the military at all.

Do you not see any irony in maintaining peace through a strong military?

Why not maintain peace by assisting the developing world to reduce the corruption that sparks conflict? By helping with education and healthcare?

But no - what you want to do is to cut off the money that resolves conflict, and they send in the troops when the developing world falls off a cliff.

 

[Toro]

Stay away from my scotch, liberal douchebag commies.


Tax smokes all you want though.

 

[westwall]

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.

How much has Finland given? Or China? Or Russia? Or how about France? Please feel free to educate us on who gives what to whom. And I would LOVE to say "sorry" no more money is to be spent outside of the US any longer. You're all on your own. Good luck!

 

[EdwardBaiamonte]

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.

depends how much you value the 2% per year growth rate we have lost each year because of idiotic liberal policies.

 

[EdwardBaiamonte]

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?

last? The USA saves civilization each day as the world's policeman. We saved civilization from Nazis and communists. Today from ISIS and Ebola. The USA is the source of civilization on earth thanks to Christianity and Republicam freedom and capitalism..

One cant imagine the profound ignorance of liberals.

 

[jasonnfree]

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?

last? The USA saves civilization each day as the world's policeman. We saved civilization from Nazis and communists. Today from ISIS and Ebola. The USA is the source of civilization on earth thanks to Christianity and Republicam freedom and capitalism..

One cant imagine the profound ignorance of liberals.

USA worked wonders for Afghanistan, Iraq, and Panama. A few hundred thousand innocents murdered not a big deal considering all the money made by "defense" industries.

 

[jasonnfree]

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?

last? The USA saves civilization each day as the world's policeman. We saved civilization from Nazis and communists. Today from ISIS and Ebola. The USA is the source of civilization on earth thanks to Christianity and Republicam freedom and capitalism..

One cant imagine the profound ignorance of liberals.

Communist Russia played a huge part in defeating Nazi Germany, so let's talk nice about our communist brothers.

 

[EdwardBaiamonte]

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?

last? The USA saves civilization each day as the world's policeman. We saved civilization from Nazis and communists. Today from ISIS and Ebola. The USA is the source of civilization on earth thanks to Christianity and Republicam freedom and capitalism..

One cant imagine the profound ignorance of liberals.

USA worked wonders for Afghanistan, Iraq, and Panama. A few hundred thousand innocents murdered not a big deal considering all the money made by "defense" industries.

dear, how stupid and liberal are you? People die in wars. Did you think we buy freedom at the supermarket??

 

[EdwardBaiamonte]

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?

last? The USA saves civilization each day as the world's policeman. We saved civilization from Nazis and communists. Today from ISIS and Ebola. The USA is the source of civilization on earth thanks to Christianity and Republicam freedom and capitalism..

One cant imagine the profound ignorance of liberals.

Communist Russia played a huge part in defeating Nazi Germany, so let's talk nice about our communist brothers.

The USA saves civilization each day as the world's policeman. We saved civilization from Nazis and communists. Today from ISIS and Ebola. The USA is the source of civilization on earth thanks to Christianity and Republicam freedom and capitalism..

One cant imagine the profound ignorance of liberals.

 

[jasonnfree]

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?

last? The USA saves civilization each day as the world's policeman. We saved civilization from Nazis and communists. Today from ISIS and Ebola. The USA is the source of civilization on earth thanks to Christianity and Republicam freedom and capitalism..

One cant imagine the profound ignorance of liberals.

USA worked wonders for Afghanistan, Iraq, and Panama. A few hundred thousand innocents murdered not a big deal considering all the money made by "defense" industries.

dear, how stupid and liberal are you? People die in wars. Did you think we buy freedom at the supermarket??

That's my point. People die in wars. We have no business meddling in these countries' affairs. None of these three countries or the dozen or so that the USA has invaded since ww2 has been a threat to America. A threat to "our interests" yes. Our interests being corporations that want to do business all over the globe and use our military for their muscle. These bastards are too cheap to hire their own mercenaries. This cost is put on the taxpayers. This "dear" thing has to stop. Might start some people wondering about us.

 

[EdwardBaiamonte]

. None of these three countries or the dozen or so that the USA has invaded since ww2 has been a threat to America.

dear, how stupid are you? Liberalism spreads like a cancer until it kills its host. In Cuba Korea Vietnam etc etc we stood up to liberalism in every way possible and eventually saved freedom on earth and freed 2 billion people.

The war always goes on. Liberalism has been the enemy for 2000 years and always will be the enemy.

 

[Henrik]

You know, you could do A LOT more to enhance those values without using the military at all.

Do you not see any irony in maintaining peace through a strong military?

Why not maintain peace by assisting the developing world to reduce the corruption that sparks conflict? By helping with education and healthcare?

But no - what you want to do is to cut off the money that resolves conflict, and they send in the troops when the developing world falls off a cliff.

America should go forward and assist the world with money. At the same time, America should uphold values of equality under Christianity, peaceful of the creation and human freedom. US is the only major country on earth which uphold those values practical. Therefore, American's military should be strong.

Also, to uphold those values, America should interact with NATO, Great Britain and China.

 

[Papageorgio]

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.

We have been printing money, that is why our dollar is buying less. That is what is causing the separation between the rich and the poor. We need to cut spending. We need to make tough hard choices but that will cost votes, neither party wants to do that.

 

[Esmeralda]

One way the US could reduce it's debt

I have a good idea for this one: sell all the rightwingers into White Slavery.

(To foreign countries so they can see what life is like elsewhere and start appreciating what it means to be an American.)

 

[waltky]

$3T in taxes but still got a $483B deficit...

New Record: Federal Tax Revenues Top $3T for 1st Time
October 15, 2014 -- Inflation-adjusted federal tax revenues not only hit a record high in fiscal 2014, but marked the first time that tax revenues have ever topped $3 trillion, according to the latest Monthly Treasury Statement. In fiscal year 2014, inflation-adjusted federal tax revenues hit a record $3,020,848,000,000, but the federal government still ran a $483,350,000,000 deficit during that time.

Each month, the Treasury publishes the government’s “total receipts,” including all revenue from individual income taxes, corporate income taxes, social insurance and retirement taxes (including Social Security and Medicare taxes), unemployment insurance taxes, excise taxes, estate and gift taxes, customs duties, and “miscellaneous receipts.” The largest share of the tax revenue so far this year has come from individual income taxes, which totaled $1,394,567,000,000 in fiscal 2014.

The rest of the receipts came from corporation income taxes totaling $320,731,000,000, employment and general retirement (off-budget) totaling $735,602,000,000, employment and general retirement (on-budget) totaling $229,465,000,000, unemployment insurance totaling $55,394,000,000, other retirement receipts totaling $3,472,000,000, excise taxes totaling $93,368,000,000, estate and gift taxes totaling $19,300,000,000, customs duties totaling $33,926,000,000 and miscellaneous receipts totaling $135,024,000,000.

In constant 2014 dollars, the $3,020,848,000,000 that the federal government collected from October through September in fiscal year 2014 was $188,581,890,000 more than the $2,832,266,110,000 it collected in October through September in fiscal year 2013. To get a historical perspective on government tax revenues recorded more than 30 years ago, in 1977, the federal government collected $1,400,661,760,000 in inflation-adjusted revenue in fiscal year 1977. This means that since then, revenues have more than doubled, increasing by 115.7 percent.

After the current fiscal year of 2014, the second highest federal tax intake in a fiscal year occurred in fiscal 2007, when the government collected $2,945,499,140,000 – or $75,348,860,000 less than fiscal 2014. The last recession hit in December 2007 and ended in June 2009. Although the federal government brought in a record of approximately $3,020,848,000,000 in revenue in fiscal 2014, according to the Treasury, it also spent approximately $3,504,199,000,000, leaving a deficit of approximately $483,350,000,000.

New Record Federal Tax Revenues Top 3T for 1st Time CNS News

 

[Youch]

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

Sorry, but that is dumb.

Are you concerned about the debt and deficit? If so, lower taxes. Lowering taxes broadens the tax base and ALWAYS increases tax revenue. History shows this. Any call for raising taxes not only steals more from the citizenry, but only further feeds the dangerous machine that cares not for lowering debt and deficit. It speaks for itself.

 

[barryqwalsh]

Liam Fox on Foreign Policy Hoover Institution


In this interview, Mr Fox said UK spends (wastes) 58 billion pounds on interest payments on government debt.

He also said, the US spends (wastes) 450 billion dollars on interest payment on US government debt.

Are these numbers right? If so, this is
voodoo economics!