$3.5T Not As Big As You Might Think

[ThisIsMe]

Most if not all of it IS paid for by raising taxes on capital gains and higher income folks

I disagree with taxing capital gains that are not realized. You can't predict the future. Those investments you pay taxes on may end up failing the next year. Does the government plan to pay you back if your investments do badly? Or do they just plan to tax all gains and you just suck up the losses?

Also, if they do tax unrealized capital gains, then they should treat it like a Roth Ira and you don't pay taxes when you withdraw it.

 

[pknopp]

I disagree with taxing capital gains that are not realized. You can't predict the future. Those investments you pay taxes on may end up failing the next year. Does the government plan to pay you back if your investments do badly? Or do they just plan to tax all gains and you just suck up the losses?

Also, if they do tax unrealized capital gains, then they should treat it like a Roth Ira and you don't pay taxes when you withdraw it.

Lesh never said anything about unrealized capital gains.

 

[j-mac]

And with Republican obstruction...nothing would pass...oh wait...that's pretty much where we are now

Too bad, dems have to find a way to work together on stand alone issues, and stop this ‘we get everything, or your obstructing’ bull shit

 

[Lesh]

I disagree with taxing capital gains that are not realized. You can't predict the future. Those investments you pay taxes on may end up failing the next year. Does the government plan to pay you back if your investments do badly? Or do they just plan to tax all gains and you just suck up the losses?

Also, if they do tax unrealized capital gains, then they should treat it like a Roth Ira and you don't pay taxes when you withdraw it.

I don’t believe they are talking about changing that. They are talking about the changing the RATE by a couple points

 

[Lesh]

Lesh

Found it. Lesh, you mentioned about banks screaming in 2000 about the hazards of paying off the debt.

https://media.npr.org/assets/img/2011/10/20/LifeAfterDebt.pdf

That's a white paper from the White House written in November 2000.

The paper points out that if we paid off the debt, there would be no US Treasuries in the world. Think about the implications of that.

US federal debt is the world's "safe haven". EVERY investor has federal bonds in their portfolio. It's the safest instrument in the world. For the moment, anyway.

Whenever the financial markets are shaken, everyone runs to the safe haven of US bonds.

So if there was no safe haven, where would all those pensions, 401k's, sovereigns, endowment funds, trust funds, et al. put their money and be confident it was safe?

We can only theorize what they would do, and it is an interesting question.

Not only that, US Treasuries are the benchmark for a gazillion other investment vehicles all over the planet. That's huge. Just about every loan in the world is pegged to the Fed interest rate.

Another important function of T-bills is that they provide liquidity to the markets. So where would liquidity come from if there were no federal debt?

The white paper suggests a pool of private debt equities.

This was written 8 years before the derivatives bubble blew up the planet, so the idea of private debt equities to provide liquidity to the markets gives me the shivers, frankly.

So you’re saying that paying off the debt is a disaster

Ohhh

 

[ThisIsMe]

Lesh never said anything about unrealized capital gains.

It's been said and suggested already. They want to tax unrealized gains. Perhaps lesh wasn't alluding to that, my apologies, but, when the left says they want to tax capital gains, there are those who think unrealized gains should also be taxed.

 

[Dr Grump]

And you voted for Xi Jinping to rule through his proxy. STFU. You are a maggot in any terms.

Trump lost. Get over it. China is now on the back foot thanks to Uncle Joe.

China Missing Trump Terribly As Biden Hits ‘Hard Power’

China's leaders are realizing that the days of exploiting complete chaos in Washington to achieve their broader goals are over.

www.forbes.com

As for Trump and China...ha!!!

Trump on China’s Xi: ‘We love each other’

US president says relations with China are at an all-time high.

www.politico.eu

You are such a LOSER....in every way...being a Deplorable, being a Trump fan....you're probably fat, white trailer trash too...heh...

 

[pknopp]

It's been said and suggested already. They want to tax unrealized gains. Perhaps lesh wasn't alluding to that, my apologies, but, when the left says they want to tax capital gains, there are those who think unrealized gains should also be taxed.

There are "those" who think all sorts of things.

 

[C_Clayton_Jones]

Great, if it's not that big it shouldn't be hard to fully pay for.

That should be doable with no more failed, illegal wars.

 

[pknopp]

That should be doable with no more failed, illegal wars.

We are still involved but it will help. The machinery will only stand back so long though. They will insist on being fed.

 

[g5000]

So you’re saying that paying off the debt is a disaster

Ohhh

Hell no. It would be a tremendous economic boon.

 

[Toddsterpatriot]

No more ability to deal with emergencies or Recessions either

Is Biden trying to spend $3.5 trillion for an emergency or for a recession?

 

[Toddsterpatriot]

Wouldn't paying off the principal on the debt remove money from the economy?

Aren't there negative effects from doing that? I know banks screamed in 2000 when that was proposed

Wouldn't paying off the principal on the debt remove money from the economy?

If the Treasury paid off my $10,000 T-Bill, how is that money removed from the economy?

 

[Toddsterpatriot]

the zero number is derived from taking to account future economic benefit. Its called dynamic scoring

Future economic benefit from a massive expansion of government? LOL!

 

[Rambunctious]

The higher income cap will make it possible for 98% of taxpayers to use the credit and ensure those who are not the wealthiest Americans are held harmless from the legislation, Kildee said.

“The vast majority of the people who benefit from this will make significantly less than” $400,000, Kildee said. “But we’re trying to remain consistent with the president’s pledge that people making less than $400,000 won’t see a tax increase. Taking this credit away from them, in a sense, would be tantamount to a tax increase.”

I have no problem with that.

As far as doubting you ASSHOLE

You originally claimed that the subsidy was only $1200 and that you had to earn OVER $800,00 to qualify

ASSHOLE.

Now if you would like to apologize and claim you misspoke...that's your privilege

First of all...the gift from uncle Sam is 10 times what I thought...I thought is was $1250...its $12,500....so let me get this straight...you are fine with government giving or gifting people that earn $800,000 per year $12,500????? when we are neck deep in serious debt and just had to raise the debt ceiling meaning more printing of money backed by nothing??? are you insane?....
But do you know why you pissed me off so much today?...because you are here defending a bill that you know nothing about...we had better move from political games and begin to hold Washington in check or they will run all over us...please wake up...read the bill....

 

[Rambunctious]

Again, key words: up to.

That's a ceiling, not a floor.

Anyone earning OVER $800,000 is NOT eligible.

So let me get this straight...you are fine with government giving or gifting people that earn $800,000 per year $12,500????? when we are neck deep in serious debt and just had to raise the debt ceiling meaning more printing of money backed by nothing??? are you insane?....

 

[dudmuck]

Future economic benefit from a massive expansion of government? LOL!

 

[Toddsterpatriot]

Specifically tell me your issue with it?

It's something called Nigerian News.

Would a link from CNN or Fox be any more acceptable to you?

Find one that makes the same claim......and that understands what an SDR actually is, we'll see.

 

[pknopp]

It's something called Nigerian News.

Would a link from CNN or Fox be any more acceptable to you?

Find one that makes the same claim......and that understands what an SDR actually is, we'll see.

Always with the disclaimers. LOL..........unless they have footnotes explaining whatever it is you want, it's not valid. LOL

Analysis: China wants to weaponize its currency. A digital version could help

Granted pretty inflammatory words but all the same.......

The Demise of the Dollar

 

[Toddsterpatriot]

Always with the disclaimers. LOL..........unless they have footnotes explaining whatever it is you want, it's not valid. LOL

Analysis: China wants to weaponize its currency. A digital version could help

Granted pretty inflammatory words but all the same.......

The Demise of the Dollar

Thanks for the links.
Neither one mentions SDRs.
Are we off that claim?