Q: How do we pay off the National Debt? A: We inflate it away!

[Little-Acorn]

We haven't paid off a dime of the National Debt since before WWII.

(Well, I lied, there were a few years in the mid 1950s when the Natl Debt went down, from $274 billion to $270 billion, we paid off a whopping 1-1/2% of it before it shot back up the following year and has never come down again)

People thought $270 billion was huge, back then. Now it's $17 *trillion*.

So how come we aren't fiscally dead and buried by now? Easy. We made each dollar, worth a lot less. So the VALUE we now owe, is a lot less than it would have been. Neat trick, eh?

If you're wondering whose pocket all the VALUE vanished from to "pay off" the Natl Debt, consider the guy who saved up $15,000 in 1950. That was enough to buy ten pretty good, brand new cars then. If he saved it until now, it would be barely enough to buy one new car, and a cheap one at that.

That's the guy who paid off the National Debt. Him and his friends. And he probably didn't even realize he was doing it. And he's probably wondering why he can only buy one new car now instead of ten. Where did the other nine cars go?

If you're wondering if we are going to see inflation or deflation soon, the answer is: If we see any deflation at all, it won't last long. We've got a TON more debt to pay off. So we'll see almost entirely INflation, as far as the eye can see, from now on. It's the only way to pay it off.

And if you were wise enough to follow your grandfather's advice and save your money... YOU ar the one who will pay. Kiss most of your savings good-bye. Sucker.

Have you ever wondered why the government has never put a tax on savings and wealth?

Ha ha, fooled you. They HAVE put a tax on wealth, and it's been going for decades. It's called Inflation. And YOU have been paying it. That's why you're not rich now. Sucker.

 

[occupied]

Horrible treatment of what could have been an interesting topic, too bad.

 

[g5000]

Adjusted for inflation, our national debt was higher at the end of WWII than it is today.

There are six ways a government can reduce its debt.


1. Grow the economy. A growing economy means increased revenues. Simple enough.

2. Internal devaluation. Keep wages low to make your production costs competitive with other countries.

3. External devaluation. Make your money lose its value. The most common way to achieve this is through inflation, but you can also depeg your currency from a fixed exchange rate and just declare its new value.

4. Renegotiate a lower interest rate with your creditors.

5. Raise taxes/cut spending.

6. Default.


After World War II, the US government experienced moderately high inflation for about a decade or so, accompanied by high tax rates and an economically booming economy. These all served to produce an incredibly rapid reduction of debt-to-GDP from 116% in 1945 down to 64% just ten years later.

 

[OnePercenter]

-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.

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

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

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

 

[HelenaHandbag]

After World War II, the US government experienced moderately high inflation for about a decade or so, accompanied by high tax rates and an economically booming economy. These all served to produce an incredibly rapid reduction of debt-to-GDP from 116% in 1945 down to 64% just ten years later.

America also had the only functioning large scale industrial consumer economy left in the world.

 

[g5000]

Inflation rates month to month, 1945 through 1956:

You can see how high tax rates were immediately following WWII:

Here is quarter to quarter GDP for 1945 to 2010:

 

[g5000]

After World War II, the US government experienced moderately high inflation for about a decade or so, accompanied by high tax rates and an economically booming economy. These all served to produce an incredibly rapid reduction of debt-to-GDP from 116% in 1945 down to 64% just ten years later.

America also had the only functioning large scale industrial consumer economy left in the world.

We make as much stuff as we always have. It just takes less people to do it. We are far more productive than we have ever been.

Our children need to be trained for the workforce needs of tomorrow, not yesterday. That is what Common Core is trying to achieve. The Right championed Common Core until Obama decided it was a good thing, too. Then the Right suddenly decided if Obama likes it, it must be satanic or something.

 

[HelenaHandbag]

After World War II, the US government experienced moderately high inflation for about a decade or so, accompanied by high tax rates and an economically booming economy. These all served to produce an incredibly rapid reduction of debt-to-GDP from 116% in 1945 down to 64% just ten years later.

America also had the only functioning large scale industrial consumer economy left in the world.

We make as much stuff as we always have. It just takes less people to do it. We are far more productive than we have ever been.

Our children need to be trained for the workforce needs of tomorrow, not yesterday.

Yes, and other nations make stuff too.

That was not true in the wake of WWII, when America could export a lot of its production to rebuilding nations.

 

[darroll]

True.

 

[C_Clayton_Jones]

Q: How do we pay off the National Debt?

Just as we did the last time: getting Americans back on a payroll – something conservatives have prevented us from doing as a consequence of their partisan obstructionism.

 

[LordBrownTrout]

-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.

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

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

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

Your back down all costs, prices.....is right out of the lenin manifesto. Damn, the communist, nationalists, statists loving people are everywhere.

 

[The Rabbi]

-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.

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

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

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

It worked for Nixon.
Oh, no it didnt.


We will inflate the currency to pay the debt. That has been the tacit decision fo the administration. It is a stealth tax no one votes for. Having lived through the 1970s I dont want to see that again.

 

[OnePercenter]

-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.

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

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

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

Your back down all costs, prices.....is right out of the lenin manifesto. Damn, the communist, nationalists, statists loving people are everywhere.

So is free education for children and abolish child labor. Aren't we a country that has taken the good parts of political ideology and made them part of our ideology?

 

[eagle1462010]

Make the liberals work and pay taxes, instead of posting dumb ass chit on these boards.

 

[OnePercenter]

-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.

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

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

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

It worked for Nixon.
Oh, no it didnt.


We will inflate the currency to pay the debt. That has been the tacit decision fo the administration. It is a stealth tax no one votes for. Having lived through the 1970s I dont want to see that again.

Goods and service prices are locked down, how would there be any inflation?

 

[The Rabbi]

-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.

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

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

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

It worked for Nixon.
Oh, no it didnt.


We will inflate the currency to pay the debt. That has been the tacit decision fo the administration. It is a stealth tax no one votes for. Having lived through the 1970s I dont want to see that again.

Goods and service prices are locked down, how would there be any inflation?

Oh no, it could never happen! Liberals are seriously dementted people.

 

[OnePercenter]

Make the liberals work and pay taxes, instead of posting dumb ass chit on these boards.

They do. The problem is there's not enough jobs. Corporate America is holding the middle class hostage because they want their subsidies back. My plan eliminates the loopholes and stimulates hiring, especially in small businesses by reducing the number one expense of hiring to a maximum of taxes paid.

It also stimulates the welfare class. Would you rather make payments from welfare or $48k/yr? Simple choice, since everyone will be hiring I'm removing the 'I can't find a job' off the table.

 

[The Rabbi]

Make the liberals work and pay taxes, instead of posting dumb ass chit on these boards.

They do. The problem is there's not enough jobs. Corporate America is holding the middle class hostage because they want their subsidies back. My plan eliminates the loopholes and stimulates hiring, especially in small businesses by reducing the number one expense of hiring to a maximum of taxes paid.

It also stimulates the welfare class. Would you rather make payments from welfare or $48k/yr? Simple choice, since everyone will be hiring I'm removing the 'I can't find a job' off the table.

How will putting a ceiling on prices, effectively capping profts, make companies hire more people?

Have you ever taken an Econ class in your life? Read a text book? Looked at a Wiki article on the topic? I mean, no one who did any of that would post such stupid bullshit.

 

[eagle1462010]

Make the liberals work and pay taxes, instead of posting dumb ass chit on these boards.

They do. The problem is there's not enough jobs. Corporate America is holding the middle class hostage because they want their subsidies back. My plan eliminates the loopholes and stimulates hiring, especially in small businesses by reducing the number one expense of hiring to a maximum of taxes paid.

It also stimulates the welfare class. Would you rather make payments from welfare or $48k/yr? Simple choice, since everyone will be hiring I'm removing the 'I can't find a job' off the table.

And you support the party of "I'm Going to Tax Everything" Ass Party.

Yeah, people will create jobs that way.........

If you want to talk about ending Free Trade, then I'm game on that subject as it has outsourced millions of jobs.

 

[The T]

It worked for Nixon.
Oh, no it didnt.


We will inflate the currency to pay the debt. That has been the tacit decision fo the administration. It is a stealth tax no one votes for. Having lived through the 1970s I dont want to see that again.

Goods and service prices are locked down, how would there be any inflation?

Oh no, it could never happen! Liberals are seriously dementted people.

Supply and demand is a foreign concept...