$3.5T Not As Big As You Might Think

[Papageorgio]

Raising taxes to generate more revenue for the government, hoping it will cause them to balance the budget and pay down the debt makes as much sense as giving a hardcore gambling addict money, hoping he'll buy a plane ticket home from Vegas.

First of all, new taxes NEVER generate the projected revenue, because those who make the projections assume static behavior. The reality is, people adjust and take steps to avoid paying higher rates as much as possible. Remember the yacht tax that was supposed to really get those rich guys? All it did was destroy the American yacht business, generate no revenue, and the rich guys have as many yachts as they did before. They just bought them from a different country that didn't have the additional tax.

Second, Congress has shown itself to be totally incapable of being responsible with new revenue. Every time they get even a scent of more money, they immediately start new spending, and by the time any new money comes in, it's already allocated and new debt is piled on top of it.

The main reason this budget is being pushed is to keep money flowing into the economy and keep the house of cards alive. As soon as the artificial money stops, the Democrats know it will sink. That is why the push to approve the budget as is.

 

[g5000]

And the Democrats have had time to stop it and have yet to do anything. It is just the way it is, rich support the rich and politics don’t matter. The 2021 Cares Act benefited the rich not the poor and struggling.

The Democrats stop a tax hike? What are you, on crack?

 

[Rambunctious]

Easy.
It gives them more incentives to expand, invest and buy more equipment......................THAT lowers their tax obligation.
WHICH.......................creates jobs.

We showed just two years ago that is wrong....you can't grow a business with heavy tax burdens...you can't qualify for loans or repay one if you could...the paper work in employing people is only worth doing if you get a profit for it...

and lets face it...

That is who pays the freight...the millions of individual tax payers...there aren't enough businesses or billionaires to pay the American bill...even if you took everything they had you couldn't erase our national debt...so its better to do that with millions of tax payments from the game fully employed masses....that's where the money is.....

 

[sartre play]

Is this to simple of a solution? Our so called leaders spend 75% of their time raising money. Take the money out of politics. ONLY INDIVIUAL citizen can spend up to 2,500 dollars in support. nothing extra for lobby's, corporations, rich people. Maybe then both sides would have time to sit down & work on the problems?

 

[Nuthin' Fancy]

Go back to 2010 when Obama's tax hikes kicked in and see how slow jobs were being created and how high the jobless rate was...we struggled for 8 years under a recession that could have ended in 2 years with the right tax policy....

No, moron, idiot republicans told Obama they would vote for his plan but withered it down to numbers that never even was a start to a recovery, after negotiating, struck a deal, then not one republican voted for it.

Then they whined.

 

[BluesLegend]

STILL doesn't make any difference to people's 401K, you moron.
The stock market is only a portion of the economy.

^^^ another left wing math fail, I'm guessing squeaked by with a D-.

 

[Nuthin' Fancy]

We showed just two years ago that is wrong....you can't grow a business with heavy tax burdens...you can't qualify for loans or repay one if you could...the paper work in employing people is only worth doing if you get a profit for it...

and lets face it...

That is who pays the freight...the millions of individual tax payers...there aren't enough businesses or billionaires to pay the American bill...even if you took everything they had you couldn't erase our national debt...so its better to do that with millions of tax payments from the game fully employed masses....that's where the money is.....

NO, you didn't.
You're FOS.

 

[Nuthin' Fancy]

^^^ another left wing math fail, I'm guessing squeaked by with a D-.

Another FOS retarded republican.
Must be proud of that economic "degree' you got from the Trump U. correspondence course.

 

[Ordinary Guy]

You're a fucking liar, 2%?
Even then, you're still paying interest for 3-5 years, moron.

Back in 2009, 2 percent was considered an optimal rate to help get a Making Home Affordable modification’s mortgage payment down to 31 percent of a homeowner’s household income. A third of household income is generally accepted as the recommended level of spending for affordable housing.

“To reach the target affordability level of 31 percent, interest payments will first be reduced down to as low as 2 percent. If, at that rate, the debt to income level is still over 31 percent, lenders then extend the term or amortization period up to 40 years, and finally forbear principal at no interest, until the payment is reduced to the 31 percent target,’ according to an early U.S. Treasury rendition of the program in, “Making Home Affordable Updated Detailed Program Description.

' Post 219 was about federal income tax moron'.

I know post 219, you were FOS then too, idiot

When your son is the VP of one Bank and your wife Executive VP and COO of another, good interest rates come to those with good credit. Our debt income right now is zero. We are building a house though and it will be over budget mean a $50k mortgage on a $600k house,

 

[Papageorgio]

We NEVER pay down the debt.

That's not how it works. When Clinton left a budget surplus to Bush...Republicans and banks were freaking OUT.

Why? Because paying off loans removes money from the system and that ain't good.

We pay the INTEREST...and can easily afford that

Never said otherwise. I have been for a Republican Congress and a Democratic President as the best solution for keeping spending under control, which is what we had under Clinton. The economy under Clinton was a quarter away from a recession and it hit in March of 2001. I don't credit a president for an economy, there are so many factors that influence an economy and a president doesn't have that much control. 2001 was a recession and then a 911, tough to keep a good economy under those circumstances.

 

[Lesh]

The main reason this budget is being pushed is to keep money flowing into the economy and keep the house of cards alive. As soon as the artificial money stops, the Democrats know it will sink. That is why the push to approve the budget as is.

You got the first part right...and then fell off the cliff

This WILL help the economy...and GDP...and overall tax revenues (keeping deficits lower). THAT keeps things running

It provides jobs, programs, things we need. This is probably the last chance we have to address Climate Change as well

 

[Papageorgio]

The Democrats stop a tax hike? What are you, on crack?

I agree! That would be responsible and neither party is ever responsible.

I am of the opinion of the best way to control spending is a Republican Congress and a Democratic President. We did well under Clinton and Gingrich.

 

[g5000]

I also didn't vote for Biden, Trump, Obama or Bush. I did however vote for Perot because of his stance on the debt.

Debt is bad irrespective of the party in power.

.

I voted for Jo Jorgensen this last time. Libertarian Party. They are all about small government and stick to their principles like pitbulls.

 

[Nuthin' Fancy]

So spending 3.5 trillion on social projects and allowing the IRS to become part of the police state spying into people’s bank accounts is all paid for.

YES.

Just like, 40 years of corporate tax cuts paid for themselves.

 

[g5000]

You got the first part right...and then fell off the cliff

This WILL help the economy...and GDP...and overall tax revenues (keeping deficits lower). THAT keeps things running

It provides jobs, programs, things we need. This is probably the last chance we have to address Climate Change as well

Sooner or later, all this debt is going to sink us. At some point, investors are no longer going to trust our ability to pay it all back and will start demanding higher interest rates on Treasuries.

Then we're fucked.

 

[Nuthin' Fancy]

When your son is the VP of one Bank and your wife Executive VP and COO of another, good interest rates come to those with good credit. Our debt income right now is zero. We are building a house though and it will be over budget mean a $50k mortgage on a $600k house,

Well, if that is true, you could have led with that.
Not everyone is as fortunate, as to get a deal like that.

 

[Toddsterpatriot]

Your hyper-partisanship harms the nation, but at least we now have a President capable of forming alliances to limit China's influence, rather than just blowing gas about China whilst praising it's leader. That was another embarrassment!

View attachment 545573
Trump Praises Xi for Handling of Coronavirus Outbreak
NATIONAL REVIEW​

Yeah, Biden is super tough on China. LOL!

 

[hadit]

You got the first part right...and then fell off the cliff

This WILL help the economy...and GDP...and overall tax revenues (keeping deficits lower). THAT keeps things running

It provides jobs, programs, things we need. This is probably the last chance we have to address Climate Change as well

You're living in a fool's paradise if you think Congress won't immediately spend any new revenue and far more.

 

[g5000]

I agree! That would be responsible and neither party is ever responsible.

I am of the opinion of the best way to control spending is a Republican Congress and a Democratic President. We did well under Clinton and Gingrich.

I don't know. Our country is so polarized these days I have almost given up all hope.

 

[g5000]

Yeah, Biden is super tough on China. LOL!

https://www.washingtonpost.com/us-policy/2021/08/17/biden-china-tariffs-trump/

Biden keeps many Trump tariffs in place, confounding businesses hoping for reprieve​

Protectionism has always been a leftist policy. I tried telling you guys that when Trump started his stupid trade war.

That's why Biden has continued in that vein.