Who's money is it???

Discussion in 'Politics' started by healthmyths, Jul 9, 2012.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    Obama said today "“The money we’re spending on these tax cuts for the wealthy is a major contributor to our deficit,”

    Who's money is it that "we're" spending?

    I mean I always thought the productivity and profits were the ownership of the people that owned or worked or were paid... not the government. But the way Obama obviously feels the money all of us earn is the government's first and they are letting us keep a portion that the government owns and by having higher or lower taxes we keep less or more of what the government owns!

    Now I know Obama isn't the ONLY one that thinks that!
    Here is a list of the "expenditures" that the Government allows US to keep i.e. not report on on our taxes i.e. deductions from what the government OWNS!
    (Substitute Tax deductions with "Tax Expenditures" in other words all money is the government and we are allowed the following "expenditures"..

    Tax expenditures make up a substantial part of the federal budget. Some of them are larger than the entire budgets of the programs or departments that spend money for the same or related purposes; for example, the value of the tax breaks for homeownership exceeds total spending by the Department of Housing and Urban Development.
    What are the largest tax expenditures?
    2008 expenditures (tax deductions allowed

    Type of deduction that government ALLOWS tax payer to subtract from taxes AMOUNT
    1) Exclusion of employer medical insurance premiums and medical care $131 billion
    2) Net exclusion of pension contributions and earnings $117.7
    3) Deductibility of mortgage interest on owner-occupied homes $88.5
    4) Accelerated depreciation of machinery and equipment $55.9
    5) Deductibility of nonbusinees state and local taxes $49.1
    6) Deductibility of charitable contributions $46.8
    7) Deferral of income from controlled foreign corporations $31.5
    8) Capital gains exclusion on home sales $30.0
    9) Deductibility of State and local property tax on owner-occupied homes $29.1
    10) Child credit $28.4
    11) Capital gains (except agriculture,timber, and coal) $24.2
    12) Step-up basis of capital gains at death $21.5
     
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  2. Mr. H.
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    Mr. H. Diamond Member

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    Of note is the fact that Obama has targeted 4) Accelerated depreciation of machinery and equipment $55.9 billion ...as it pertains to one and only one industry- oil and natural gas drilling.

    Why? Because, as he said in his SOTU address "they're doing just fine".

    "Just fine" means they're hiring workers and that the industry is successful at what it does. They plow hundreds of billions of dollars into the economy year in and year out while the Federal Treasury rakes in hundreds of millions in royalties and taxes.

    So Bammy intends to kill the goose, create his own golden eggs, and distribute them to lazy dogs , the sleepy cats , and the noisy yellow ducks .
     
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    Last edited: Jul 9, 2012
  3. Charles_Main
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    Charles_Main AR15 Owner

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    Were not spending anyone's Money on Tax Cuts, that is False Logic. The Logic of someone that thinks everything belongs to the Government. The Logic of Someone that wants to spend more money, and thinks the Rich can pay for everything.

    But don't Call Obama a Left Winger, oh no, the left wingers in here will swear up and down he is a Moderate.

    lol
     
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    Last edited: Jul 9, 2012
  4. g5000
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    g5000 Diamond Member

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    That is one mind blowing statement right there.

    "The money we are spending on these tax cuts".

    Wow. Holy. Fucking. Wow.

    That's batshit insane.
     
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  5. uscitizen
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    uscitizen Senior Member

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    It is all the governments money. they printed it.
     
  6. auditor0007
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    auditor0007 Gold Member

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    Do you recall when GW was pushing for the tax cuts, he told everyone that he wanted to return some of the money to the taxpayers. The reason he wanted to do this was due to the fact that revenues had peaked at over 20% of GDP and the CBO was projecting surpluses for years to come. In pushing for the tax cuts, he stated that if a time came when revenues dropped, then the tax cuts should be rescinded. Republicans and Democrats alike agreed with this thinking. Of course that all changed and now today the intellignecia from the right is telling us that not only should we not increase taxes back to the old rates, but we should actually cut them more, as if cutting taxes has not already done enough damage in helping to create a massive debt that we continue to pass on to our kids.

    And yes, I realize we need to cut some spending too; it's not all a revenue problem, but unlike many of you nuts here who think it is all a spending problem, the facts state otherwise.
     
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  7. JoeB131
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    JoeB131 Diamond Member

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    No, batshit insane is borrowing money from China to pay for tax cuts for rich people.
     
  8. healthmyths
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    healthmyths Gold Member Supporting Member

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    NUTS because we think it is all a SPENDING problem???
    Why would ANY sane person want to work hard and have the government take BEFORE the person sees the money and turn around and :
    - spend $2.6 million to make sure prostitutes in China drink less on the job.
    - $1.44 million in federal funds estimating the size of the population and examining the “social milieu”
    of male prostitutes in Hanoi and Ho Chi Minh City, Vietnam.
    - on-tax-dollars-spent-to-study-male-prostitutes-in-vietnam
    - Washington spends $25 billion annually maintaining unused or vacant federal properties

    U.S. Senator Tom Coburn, M.D. (R-OK) today released a new oversight report, “Wastebook 2010” that highlights some of the most egregious examples of government waste in 2010.
    Dr. Coburn Releases New Oversight Report:

    AND now us NUTS are not happy to send tax money to the government that
    A) Took a 2,700 page bill now
    B) Has 13,000 pages of rules and regulations for a law not fully implemented
    C) Hiring 16,000 more IRS to collect more money

    So tell me again the SANITY of sending tax money to an entity that is OK with the above spending and
    for example paying Methodist hospital of San Antonio (just one of 6,000 Medicare hospitals that grossly overcharge Medicare..) $2,315 for a CAT scan that cost $152 or a markup of 1,423.3%!!!
    Or Univ. Community Hospital in Tampa billed Medicare 2,110 times to do CAT scan no contrast
    at $2,635 billed Medicare...
    The services COST the hospital:$43
    A 6,127.91% markup!
    So again what SANE person wants to send more money to an entity that gladly PAYS 6,000% MARKUP!


    Prove me wrong if you can but YOU obviously DON"T deal with the FACTS just hyperbole!!!
    These are real numbers.. real waste and you are OK with that???
     
  9. JoeB131
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    JoeB131 Diamond Member

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    Yes, medical care is overpriced...

    Again, single payer would fix that, because it would make an evaluation of what something should actually cost and pay just that.

    That's why a lot of these doctors hate Medicare.

    I had a procedure once where the doctors charged my insurance company 32K. Had a co-worker who didn't have insurance, and for her, the procedure was considered "elective". They offered to do it for her for 17K. Same doctor. Same procedure. Same Hospital.
     
  10. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    The "money we're spending on tax cuts?" Now he's worried about spending that in fact, isn't really spending?

    :lol:

    Good Lord.
     
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