US Taxes Must Rise Drastically

asterism wrote:

Yes. Spending more money for your healthcare isn't what you are demanding the rest of us do. How much cash are you planning to give the federal government since you say that if I don't give more cash than I already am I'm "unpatriotic?" How patriotic are you?

I can't quite follow you, asterism, but could we please make this convo less personal? Your curiosity about my budget is creeping me out.

I expect to pay higher taxes on my cash benefit -- does that answer your question?

Look at the numbers, asterism. Read the article (the whole thing; the Op is just an excerpt). There is no other way unless we resist all changes that would adversely impact us and if we do, the nation will stumble the next time we need cash but cannot borrow more money. No matter what, if we don't reduce the deficit, we'll have to siphon off a good 5% or more of our GDP annually in a few years just to pay interest on it. That's not a sustainable economic plan.

The national debt now stands at more or less the same amount as our total GDP annually, asterism. No amount of growth will restore us to health, and no amount of spending cuts will save us either.

Taxes must go up -- my guess is, by about 33%.
 
Asterism is actually making a profoundly important point.

Raising taxes now to cover existing debt, cover the costs of entitlements like medicare and SS, pay interest on existing debt etc is going to put the burden of paying for all of this largely on the backs of those who didn't create this mess.

While those who did create this mess are retiring and expect not to have to pay much of a share in those new taxes.

The Baby boom has essentially stolen about 1/2 of the next generations disposable wealth and squandered it recklessly. Now they want the next generation to pay for it.

There is nothing right about what the baby boom generation has done and they definitely deserve to shoulder the bulk of the load, even tho SS was paid for in advance the baby boom generation did nothing while congress stole the trust fund.

This can't end well. Everybody is gonna get shafted, but some will get shafted deeper and harder. And that is probably gonna be those who least deserve it.
 
This can't end well. Everybody is gonna get shafted, but some will get shafted deeper and harder. And that is probably gonna be those who least deserve it.

I suspect "those who least deserve it" will be, in whole or in part, most of the decendents of 20 million Mexican Illegals that no one kept from crossing the border.
 
We need to sat goodbye to entire Federal Programs and Departments: my personal favorites include Education, Energy, Farmers Home, Rural Electrification, and Energy for starters
 
We need to cut spending, no sacred cows, and raise taxes.

The Bush tax cuts did not work to generally revive the economy and put us on a sustained solid path. Low tax rates by Greenspan, and overly rapid expansion of the money supply fueled growth, along with policies stimulating the housing market.

I am not in favor of across the board cuts, but targeted cuts. Defense is over bloated, needs to be cut big time. We don't need troops in Germany or Japan, bring them home. Let those countries decide how much defense they need, and bleed their own budgets instead of ours, for those unproductive expenses.

We need to go after fraud in medicare and medicaid, and foodstamp programs.
 
end social security, medi*, the iraq war, DHS, and close all non-essential bases. problem solved without touching taxes
 
LOL, the Democrats and lefties plan for EVERYONE.

sorry we just gotta TAX THE SHIT out of you, so we can keep those people in their cushy Guberment jobs. Hey sit back, just ENJOY IT. oh, and they won't even be supplying any vasaline for us little peons.
 
asterism wrote:

How much of your retirement money do you plan to kick in?

I expect to lose my medical benefits and to have my cash benefit cut. Hopefully not too deeply. I have been expecting this, as I knew the numbers were unsustainable.

I am living lean and can cut back, won't have to give up my home, etc.

Any other nosey personal questions?

Alright, so if you have to tighten you belt why not the entire government right along with you?
 
Asterism is actually making a profoundly important point.

Raising taxes now to cover existing debt, cover the costs of entitlements like medicare and SS, pay interest on existing debt etc is going to put the burden of paying for all of this largely on the backs of those who didn't create this mess.

While those who did create this mess are retiring and expect not to have to pay much of a share in those new taxes.

The Baby boom has essentially stolen about 1/2 of the next generations disposable wealth and squandered it recklessly. Now they want the next generation to pay for it.

There is nothing right about what the baby boom generation has done and they definitely deserve to shoulder the bulk of the load, even tho SS was paid for in advance the baby boom generation did nothing while congress stole the trust fund.

This can't end well. Everybody is gonna get shafted, but some will get shafted deeper and harder. And that is probably gonna be those who least deserve it.

Well, I dun think the average Grandma or Grandpa understood what was happening, and it ain't as if anyone in DC told the truth. Still, I agree.

I dun want to see even one single graybeard protesting cuts in Medicare and Social Security. Not ONE. And if you have at least $25,000 in come from other sources or at least $500,000 in assets, not including the family home, then IMO you should not receive Social Security at all.

I would not be suggesting such things, except I think this is a watershed moment for the US. If we do not accept these sort of deep, painful cuts we face a future that will change the US into Peru in one generation -- and I cannot accept that.
 
asterism wrote:

How much of your retirement money do you plan to kick in?

I expect to lose my medical benefits and to have my cash benefit cut. Hopefully not too deeply. I have been expecting this, as I knew the numbers were unsustainable.

I am living lean and can cut back, won't have to give up my home, etc.

Any other nosey personal questions?

Alright, so if you have to tighten you belt why not the entire government right along with you?

Of course the government has to make deep spending cuts, syrenn....but those cuts alone will not be enough to allow us to avoid raising taxes.
 
good grief, you don't want Sarah Palin in a t.v show, you don't want our grandma and grandpa to protest over cuts in something they were PROMISED would be around for them if they paid into it.

you don't want, you don't want, you don't want.

you really have SOME FRIGGEN NERVE.
 
Asterism is actually making a profoundly important point.

Raising taxes now to cover existing debt, cover the costs of entitlements like medicare and SS, pay interest on existing debt etc is going to put the burden of paying for all of this largely on the backs of those who didn't create this mess.

While those who did create this mess are retiring and expect not to have to pay much of a share in those new taxes.

The Baby boom has essentially stolen about 1/2 of the next generations disposable wealth and squandered it recklessly. Now they want the next generation to pay for it.

There is nothing right about what the baby boom generation has done and they definitely deserve to shoulder the bulk of the load, even tho SS was paid for in advance the baby boom generation did nothing while congress stole the trust fund.

This can't end well. Everybody is gonna get shafted, but some will get shafted deeper and harder. And that is probably gonna be those who least deserve it.

Well, I dun think the average Grandma or Grandpa understood what was happening, and it ain't as if anyone in DC told the truth. Still, I agree.

I dun want to see even one single graybeard protesting cuts in Medicare and Social Security. Not ONE. And if you have at least $25,000 in come from other sources or at least $500,000 in assets, not including the family home, then IMO you should not receive Social Security at all.

I would not be suggesting such things, except I think this is a watershed moment for the US. If we do not accept these sort of deep, painful cuts we face a future that will change the US into Peru in one generation -- and I cannot accept that.

So why shouldn't those people get SS? They are the ones who paid into it and are supporting all of those who did not.

25,000 in income and no SS. My medical last month was 11,000. How would you square that if i only made 25,000 a year?
 
You are as dumb as a box of rocks, ain't ya? This ain't just some act you pull?

Read the article I linked, Stephanie. If Grandpa and Grandma hang on to the full compliment of benefits they have been promised, the younger people in this nation will have no futures. I dun happen to see that as fair.

Do you?
 
I expect to lose my medical benefits and to have my cash benefit cut. Hopefully not too deeply. I have been expecting this, as I knew the numbers were unsustainable.

I am living lean and can cut back, won't have to give up my home, etc.

Any other nosey personal questions?

Alright, so if you have to tighten you belt why not the entire government right along with you?

Of course the government has to make deep spending cuts, syrenn....but those cuts alone will not be enough to allow us to avoid raising taxes.

Right. Just so long as they tax everyone the same i am all for it.
 
Asterism is actually making a profoundly important point.

Raising taxes now to cover existing debt, cover the costs of entitlements like medicare and SS, pay interest on existing debt etc is going to put the burden of paying for all of this largely on the backs of those who didn't create this mess.

While those who did create this mess are retiring and expect not to have to pay much of a share in those new taxes.

The Baby boom has essentially stolen about 1/2 of the next generations disposable wealth and squandered it recklessly. Now they want the next generation to pay for it.

There is nothing right about what the baby boom generation has done and they definitely deserve to shoulder the bulk of the load, even tho SS was paid for in advance the baby boom generation did nothing while congress stole the trust fund.

This can't end well. Everybody is gonna get shafted, but some will get shafted deeper and harder. And that is probably gonna be those who least deserve it.

Well, I dun think the average Grandma or Grandpa understood what was happening, and it ain't as if anyone in DC told the truth. Still, I agree.

I dun want to see even one single graybeard protesting cuts in Medicare and Social Security. Not ONE. And if you have at least $25,000 in come from other sources or at least $500,000 in assets, not including the family home, then IMO you should not receive Social Security at all.

I would not be suggesting such things, except I think this is a watershed moment for the US. If we do not accept these sort of deep, painful cuts we face a future that will change the US into Peru in one generation -- and I cannot accept that.

So why shouldn't those people get SS? They are the ones who paid into it and are supporting all of those who did not.

25,000 in income and no SS. My medical last month was 11,000. How would you square that if i only made 25,000 a year?

I'd like to say I have all the answers, syrenn. I don't. But that sort of change is what is needed....I wrote it in hopes of making the size of these cuts in spending/increase in taxes "visible" to the reader.

It is time to make some very hard choices.
 
You are as dumb as a box of rocks, ain't ya? This ain't just some act you pull?

Read the article I linked, Stephanie. If Grandpa and Grandma hang on to the full compliment of benefits they have been promised, the younger people in this nation will have no futures. I dun happen to see that as fair.
Do you?

why don't you just open up some gas chambers and gas the old geezers.

you are one cold and stupid broad.
 
asterism wrote:

Yes. Spending more money for your healthcare isn't what you are demanding the rest of us do. How much cash are you planning to give the federal government since you say that if I don't give more cash than I already am I'm "unpatriotic?" How patriotic are you?

I can't quite follow you, asterism, but could we please make this convo less personal? Your curiosity about my budget is creeping me out.

I expect to pay higher taxes on my cash benefit -- does that answer your question?

Look at the numbers, asterism. Read the article (the whole thing; the Op is just an excerpt). There is no other way unless we resist all changes that would adversely impact us and if we do, the nation will stumble the next time we need cash but cannot borrow more money. No matter what, if we don't reduce the deficit, we'll have to siphon off a good 5% or more of our GDP annually in a few years just to pay interest on it. That's not a sustainable economic plan.

The national debt now stands at more or less the same amount as our total GDP annually, asterism. No amount of growth will restore us to health, and no amount of spending cuts will save us either.

Taxes must go up -- my guess is, by about 33%.

If you're creeped out you have every right to ignore me, so stop with the passive-aggressive attitude. I have no interest in your personal finances, just making a point that you expect everyone else to be "patriotic" with their money now that you have retired early.

You're not going to pay 38% of any money you receive and you aren't going to go back to work. You'd have more credibility if you were willing to do that. Some of us would like to retire at 57 also.
 

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