Republicans so worried about the debt, yet they cause most of it.

Discussion in 'Politics' started by Penelope, Oct 5, 2017.

  1. ColonelAngus
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    ColonelAngus Gold Member

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    Hillary supporters:

    Your perfect tax structure is what?
     
  2. blackhawk
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    blackhawk Gold Member

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    This country was debt free for one year during Andrew Jackson Presidency since then we have been piling up debt under both Republican and Democrat administrations it’s the one thing both parties excel at.
     
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  3. Siete
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    Siete Gold Member

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    allow Trump to add 10 Trillion to the debt then lick his ass and thank him for doing it.
     
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  4. Synthaholic
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    Synthaholic Platinum Member

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    Republicans have caused almost all of our current debt, and all of our current deficit - Bill Clinton left them with a SURPLUS!
     
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  5. Spare_change
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    Spare_change Gold Member

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    Great game plan!!!

    Just throw shit out there - with no validation at all - and pray that somebody, anybody is stupid enough to take it at face value.

    A strategy at which you seem to excel.
     
  6. Spare_change
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    Spare_change Gold Member

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    Rip!! Rip?? Is that you???? Been asleep for the past 8 years??? How's Mrs. VanWinkle?

    Don't throw nonsensical bullshit like that out and expect any sane person to buy into it.
     
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  7. francoHFW
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    francoHFW Diamond Member

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    Quite a bit. Quite a bit.
    Quite a bit... Quite a bit... Economics is not an exact science and your questions are simply obstructionist and stupid and exactly what the dupes can't get past. But Republicans and Reagan did not ask that these questions when they drop the top rate to 50 and then 28%... It's obvious to any unbrainwashed person that the rich pay too little and the rest are paying too much.
     
  8. francoHFW
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    francoHFW Diamond Member

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    At least 80% of Obama's debt was caused by bailouts and assistance for the victims that were already in law, stupid. So many brainwashed functional morons and greedy a-holes...
     
  9. Spare_change
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    Spare_change Gold Member

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    Actually, the questions are germane and appropriate, and require an intelligent analysis of the proposal. You seem to be satisfied that those answers "look good" rather than "are good"

    But, not to worry ---- the adults are going to take your suggestion and see what the answer is. I'll get back to you.
     
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  10. Spare_change
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    Spare_change Gold Member

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    Ok - since you seem to be incapable of actually analyzing your proposal, I have taken the opportunity to do that. Keeping in mind that I am forced to use exact income numbers, we found this:

    1) There are 125.32 million households.
    2) Therefore, the top 1% constitutes 1.25 million households.
    3) The "average" top 1% taxpayer earned $380,000/year or more. How Much Money Do The Top Income Earners Make By Percentage?
    4) Approxiymately 1.1 million (of those 1.25 million households) made between $300K and $999K Beyond the 1 percent
    5) If we assume statistical distribution, that means that each of those 1.1 million earned $655K on average.
    6) Since those 1.1 million households cover your 40% tax bracket, that means they generated $282 billion in taxes.
    7) The remaining 1% ers (125,000) averaged $6 million per year income. Beyond the 1 percent
    8) Thus, they would generate $375 billion in taxes.

    Therefore, the top two tiers of your proposal would generate $657 billion in revenue.

    9) The remaining 124.07 million households populate your final two tax brackets.
    10) We know that the average household income in the US is about $53,000/year. Opinion | $250,000 a Year Is Not Middle Class
    11) Given that your cutoff was $50K to pay taxes, for estimating purposes, we will simply estimate that one half of the households will pay no taxes (62 million households)
    12) The remaining 61 million households will pay taxes at the 25% rate, according to your plan.
    13) If you extrapolate, that means that those households will average about $73K in household income, with each paying $18,250 in taxes

    Therefore, your third tax rate will generate $1.12 trillion.

    Thus, your total tax plan will generate $1.76 trillion - far short of the current $4 trillion budget. If you were to raise the rates to 100% of everything above $1m, 80% of everything between $ 300K and $1M, and 50% of everything between $50K and $300K, you STILL wouldn't generate enough tax revenue.

    Guess that didn't work, did it?

    Further, that's assuming linear taxation from first dollar to last dollar - not something we do.

    By the way, the CURRENT revenue projections say $2.2 trillion in income tax, and $582 billion in corporate taxes - still not enough to meet the proposed budget.

    The point isn't that your plan was faulty, or that liberals who call for taxes on the rich as the panacea to fix all things, aren't thinking it through. The simple truth is we are outspending our capacity to generate revenue. We have a spending problem - pure and simple. There is NO way to generate the income needed to operate the government in its current configuration.
     
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