The US Public Debt Game

[bendog]

The prognosis is we will have to choose to get rid of one of the following: paying of the debt by defaulting, defense as we have come to expect it, soc sec and medicare. The first would result in getting rid of the second and third as well. Although Trump has mentioned it, which should have prevented ANYONE from voting for him, but that's another matter.

I have a suspicion that both the dems and gop have intentionally chosen to not cut spending and raise revenues to prevent this choice becoming necessary.

The dems believe we'll never give up soc sec and medicare and want to cut at least 50% of defense spending.

The gop believes we'll finally cut those two programs.

Since 1990 or when BushI raised taxes and insured his own defeat, I don't think the gop has been right on a single major issue.

 

[Billy_Kinetta]

We owe countries money.

Other countries owe us money.

We simply tell the countries that owe us money to pay it to the countries we owe money to on our behalf. Done.

 

[g5000]

As I have laid out many times, balancing the budget, lowering everyone's tax rates, and paying off the debt is extremely simple. We just don't have politicians with the balls to do it.

But it is not the politicians' fault. They are doing exactly what the voters demand of them. "Gimme gimme gimme, and make that guy over there pay for it."

Each side of the political spectrum has been brainwashed into bleeving the other side are the thieves. This is all part of the divide and conquer strategy of those who benefit the most from robbing the taxpayers.

If you want to know who is responsible for our debt, look in the mirror. Stop pointing at the other guy. You are guilty, too. We are ALL guilty.


So here's how to balance the budget, lower tax rates, and pay off the debt.


1. Eliminate tax expenditures. Every deduction, credit, and exemption is paid for by increasing the tax rate. Someone else pays higher taxes to pay for your deduction, credit, exemption. Just now, several pseudocons' heads exploded. They absolutely refuse to accept this truth. They fight it tooth and nail. They do NOT want their government gifts taken from them, even though it means they have to steal them from other taxpayers through higher tax rates. But the simple fact is: if we eliminated the $1.4 trillion spent on tax expenditures each year, we could lower EVERYONE's tax rates and have a balanced budget.

2. Raise the Social Security and Medicare eligibility age to 70, and index the eligibility age to 9 percent of the population going forward. We are decades longer than our ancestors, we should be working longer. Common sense. Just now, several more heads have exploded. There are entitlement-minded people who believe you should be able to spend a third of your life on the public dime even if life expectancy rises to 100.

 

[Moonglow]

We owe countries money.

Other countries owe us money.

We simply tell the countries that owe us money to pay it to the countries we owe money to on our behalf. Done.

Or,,,start a wa and depose the current govt. that you owe the dough to...

 

[Billy_Kinetta]

The prognosis is we will have to choose to get rid of one of the following: paying of the debt by defaulting, defense as we have come to expect it, soc sec and medicare. The first would result in getting rid of the second and third as well. Although Trump has mentioned it, which should have prevented ANYONE from voting for him, but that's another matter.

We've been running debt on a continuous line since Alexander Hamilton. So what? Defer as always. No reason to default.

To whom is the debt owed?

The dems believe we'll never give up soc sec and medicare and want to cut at least 50% of defense spending.

The gop believes we'll finally cut those two programs.

Not before the Boomers are gone, lest they turn and rend thee.

Cut all foreign aid to all but proven friends. Stop supporting non-citizens here. Stop funding all that is not authorized constitutionally or does not promote the general welfare.

Cease all foreign interventions in which we have no direct interest. If we fight, fight for cause, decisively destroy the enemy and come the hell home. Don't stay and rebuild the place you just knocked down. That's their problem.

Just a start.

 

[Timmy]

The trick is to pay down the debt when times are good and LESS Gov services are needed . Like now !

But Nope! It’s much more fun for pols to pass tax cuts or vanity projects to bring back to the districts .

 

[g5000]

The trick is to pay down the debt when times are good and LESS Gov services are needed . Like now !

But Nope! It’s much more fun for pols to pass tax cuts or vanity projects to bring back to the districts .

Our politicians do EXACTLY what we demand of them.

Think about it. Congress has single digit approval, yet a 98 percent re-election rate.

You know why?

"Those other bastards spend too much on PORK, but my guy brings home the BACON!"


Look in the mirror.

There is your culprit.

 

[Remodeling Maidiac]

The first step is a balanced budget amendment. Stop the bleeding. Then have a LONG debate about the best path forward.

 

[g5000]

To whom is the debt owed?

China, Japan, etc. At interest.

 

[Billy_Kinetta]

To whom is the debt owed?

China, Japan, etc. At interest.

That's all?

See #2. Simply transfer the debt.

 

[Timmy]

The trick is to pay down the debt when times are good and LESS Gov services are needed . Like now !

But Nope! It’s much more fun for pols to pass tax cuts or vanity projects to bring back to the districts .

Our politicians do EXACTLY what we demand of them.

Think about it. Congress has single digit approval, yet a 98 percent re-election rate.

You know why?

"Those other bastards spend too much on PORK, but my guy brings home the BACON!"


Look in the mirror.

There is your culprit.

Word . Locals give their rep high grades while all of congress gets an F.

 

[Timmy]

The first step is a balanced budget amendment. Stop the bleeding. Then have a LONG debate about the best path forward.

How about a “war tax” to fund all our oversees nonsense ?

 

[g5000]

To whom is the debt owed?

China, Japan, etc. At interest.

That's all?

See #2. Simply transfer the debt.

Wait a second.

Are you telling me you actually believe China owes us the same amount we owe them? BWA-HA-HA-HA-HA!

 

[g5000]

If a feudal lord had 20 serfs under him, and his annual expenditures came to $1000, he would have to tax each serf $50.

If he then took $200 of this money and returned it to 5 of his favorite serfs, he would have $800 left. Not enough to cover his $1000 in expenses. And so he needs to tax everyone an additional $10 to balance his books. In short, he would have to raise the tax rates by 20 percent on everyone to come out even and to give the $200 gift to his five favorites.

This is the system we have today.

Those 5 inner circle serfs tell themselves, "Woo hoo! I get to keep more of my money! Yay!", completely oblivious to the fact everyone is paying higher tax rates because of them, including themselves.

Instead of paying $50 in taxes, everyone is paying $60 in taxes.

Bad for the economy. And wealth begins to concentrate up to the favored five.




This is the system we have today in America.



.

 

[g5000]

Because of tax expenditures, you have two business earning identical income which are paying radically different taxes.

Because of tax expenditures, you have two people earning identical incomes who are paying radically different taxes.

This is the unlevel playing field we see pseudocons supporting.

If you behave the way the government or Donald Trump want you to behave, you get big gifts, which are paid for by the rest of the taxpaying public.

They pay MORE so you pay LESS. If you aren't in the inner circle, you're fucked.

During the primaries, Ted Cruz was talking about a "post card tax return". The only way a post card tax return is possible is by eliminating all tax expenditures. Cruz was talking about wiping out massive quantities of tax expenditures.

Same with Rand Paul.

Same with Marco Rubio.

 

[LordBrownTrout]

As I have laid out many times, balancing the budget, lowering everyone's tax rates, and paying off the debt is extremely simple. We just don't have politicians with the balls to do it.

But it is not the politicians' fault. They are doing exactly what the voters demand of them. "Gimme gimme gimme, and make that guy over there pay for it."

Each side of the political spectrum has been brainwashed into bleeving the other side are the thieves. This is all part of the divide and conquer strategy of those who benefit the most from robbing the taxpayers.

If you want to know who is responsible for our debt, look in the mirror. Stop pointing at the other guy. You are guilty, too. We are ALL guilty.


So here's how to balance the budget, lower tax rates, and pay off the debt.


1. Eliminate tax expenditures. Every deduction, credit, and exemption is paid for by increasing the tax rate. Someone else pays higher taxes to pay for your deduction, credit, exemption. Just now, several pseudocons' heads exploded. They absolutely refuse to accept this truth. They fight it tooth and nail. They do NOT want their government gifts taken from them, even though it means they have to steal them from other taxpayers through higher tax rates. But the simple fact is: if we eliminated the $1.4 trillion spent on tax expenditures each year, we could lower EVERYONE's tax rates and have a balanced budget.

2. Raise the Social Security and Medicare eligibility age to 70, and index the eligibility age to 9 percent of the population going forward. We are decades longer than our ancestors, we should be working longer. Common sense. Just now, several more heads have exploded. There are entitlement-minded people who believe you should be able to spend a third of your life on the public dime even if life expectancy rises to 100.

Why not eliminate the entire IRS tax code, apply a 1-2 percent tax on income across the board with no deductions, expenditures, no sliding rule based on income(marginal) and just be done with it. Our debt would be paid in five years. Why???????????????????

 

[Billy_Kinetta]

To whom is the debt owed?

China, Japan, etc. At interest.

That's all?

See #2. Simply transfer the debt.

Wait a second.

Are you telling me you actually believe China owes us the same amount we owe them? BWA-HA-HA-HA-HA!

No.

You didn't read #2.

 

[g5000]

As I have laid out many times, balancing the budget, lowering everyone's tax rates, and paying off the debt is extremely simple. We just don't have politicians with the balls to do it.

But it is not the politicians' fault. They are doing exactly what the voters demand of them. "Gimme gimme gimme, and make that guy over there pay for it."

Each side of the political spectrum has been brainwashed into bleeving the other side are the thieves. This is all part of the divide and conquer strategy of those who benefit the most from robbing the taxpayers.

If you want to know who is responsible for our debt, look in the mirror. Stop pointing at the other guy. You are guilty, too. We are ALL guilty.


So here's how to balance the budget, lower tax rates, and pay off the debt.


1. Eliminate tax expenditures. Every deduction, credit, and exemption is paid for by increasing the tax rate. Someone else pays higher taxes to pay for your deduction, credit, exemption. Just now, several pseudocons' heads exploded. They absolutely refuse to accept this truth. They fight it tooth and nail. They do NOT want their government gifts taken from them, even though it means they have to steal them from other taxpayers through higher tax rates. But the simple fact is: if we eliminated the $1.4 trillion spent on tax expenditures each year, we could lower EVERYONE's tax rates and have a balanced budget.

2. Raise the Social Security and Medicare eligibility age to 70, and index the eligibility age to 9 percent of the population going forward. We are decades longer than our ancestors, we should be working longer. Common sense. Just now, several more heads have exploded. There are entitlement-minded people who believe you should be able to spend a third of your life on the public dime even if life expectancy rises to 100.

Why not eliminate the entire IRS tax code, apply a 1-2 percent tax on income across the board with no deductions, expenditures, no sliding rule based on income(marginal) and just be done with it. Our debt would be paid in five years. Why???????????????????

A 1 to 2 percent flat income tax would not come close to balancing the budget. Not even close.

But I agree with the sentiment.

However, I prefer abolishing income taxes altogether and going with a tax on consumption. Like the Fair Tax.

With ZERO exemptions.

 

[g5000]

To whom is the debt owed?

China, Japan, etc. At interest.

That's all?

See #2. Simply transfer the debt.

Wait a second.

Are you telling me you actually believe China owes us the same amount we owe them? BWA-HA-HA-HA-HA!

No.

You didn't read #2.

We are a net debtor. Bigly.

 

[Remodeling Maidiac]

We owe countries money.

Other countries owe us money.

We simply tell the countries that owe us money to pay it to the countries we owe money to on our behalf. Done.

That is not how financial commitments work. Quite ridiculous actually.
Your theory would put businesses out of business fast.