Biden Admits He Will Raise Taxes

[Crepitus]

You know we already knew this, right? Somebody's gotta cover the GOP's wild spending spree.

But not the Democrats wild spending spree? They wanted $1,200 checks for the Covid bill, the Republicans argued it down to $600. They wanted additional unemployment of $600 a week. Republicans argued it down to $300. The Democrats kept wanting to spend more and the Republicans were trying to spend less. The Republicans didn't want any stimulus check or extra unemployment. But they finally agreed on that, but the Democrats refused to get all their pork out of the bill like 40 million for the Kennedy Center.

And tRump was pissed as hell they weren't $2000.00 so that's pretty much a bullshit argument.

You and I both know what you're calling pork isn't really part of the relief bill so that one's bullshit as well.

Do you have anything real?

 

[Ray From Cleveland]

And tRump was pissed as hell they weren't $2000.00 so that's pretty much a bullshit argument.

You and I both know what you're calling pork isn't really part of the relief bill so that one's bullshit as well.

Do you have anything real?

Trump did want the 2K but the Republicans in the Senate refused. Whether you call it relief or stimulus, what's the difference? It's still wasteful spending by the Democrats. You can't blame Republicans for everything just because a Republican President is in the White House. All he does is sign the damn thing. The bills start in the House which for the last two years was under Democrat leadership.

 

[Ray From Cleveland]

Rush Limbaugh a fat idiot. I was inside the Democratic Party for 25 years. Lol I know what's discussed behind closed doors and it ain't reparations.

You have no idea what's being discussed behind closed doors. Watch and see.

 

[evenflow1969]

Rush Limbaugh a fat idiot. I was inside the Democratic Party for 25 years. Lol I know what's discussed behind closed doors and it ain't reparations.

You have no idea what's being discussed behind closed doors. Watch and see.

Ya, and fat ass Rush Limbaugh does. Lol. I was in the room for years. Rush tells you what stirs you up its entertainment. The main thing discussed behind closed doors is not the spy novel those ******* retards tell you. 95% of the time its how to keep the lights on and pay the bills. The conspiracy shit you hear is ludicrous. The shit thats really happening is so boring I doubt you would stay awake. The conventions use to be fun but they even took the fun out of those. Quit listening to that shit it will warp your mind and make you paranoid. Lol

 

[HenryBHough]

Biden: "If you elect me, your taxes are going to be raised" - Americans for Tax Reform

At a Joe Biden campaign rally in South Carolina on Friday, a voter told Biden that the Trump tax cut saved him money, but Biden shot back that he would raise taxes if elected. Biden: "By the way, how many of you did really well with that $1.9 trillion tax cut..." [Voter…

www.atr.org

Now, with a Democratic Senate, there is nothing to stop the Democrats. You Biden lovers might need a second job.
You can also make your kids get a job. Perhaps you should see a stockbroker and ask about tax shelters. You have been warned but you did not listen.

Second job?

Under the Xiden regime you expect there might be ANY jobs?

Get f'n real!

 

[Dont Taz Me Bro]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The problem is they will spend even more money and still run massive deficits.

 

[22lcidw]

Biden: "If you elect me, your taxes are going to be raised" - Americans for Tax Reform

At a Joe Biden campaign rally in South Carolina on Friday, a voter told Biden that the Trump tax cut saved him money, but Biden shot back that he would raise taxes if elected. Biden: "By the way, how many of you did really well with that $1.9 trillion tax cut..." [Voter…

www.atr.org

Tax & Spend is far more responsible than Borrow & Spend.

So instead of whining, maybe you should have done this: CUT SPENDING FIRST, THEN CUT TAXES.

From now on, run for office by promising to cut Medicare, Medicaid, Social Security, whatever departments and programs that you don't want. Tell us EXACTLY HOW MUCH AND WHERE YOU'RE GOING TO CUT. If you win, FIRST YOU CUT SPENDING. Then you cut taxes. If you don't win, that's on YOU.

Right wingers who think they're fiscally responsible because talk radio says so are absolutely ignorant.

They tried to. But the social welfares rules said....get pregnant as a young teenager and we will pay you. We have other programs that will give you money and health benefits. You do not need any Daddies. Just a baby Daddy....A Mandingo as it were.

 

[Crepitus]

And tRump was pissed as hell they weren't $2000.00 so that's pretty much a bullshit argument.

You and I both know what you're calling pork isn't really part of the relief bill so that one's bullshit as well.

Do you have anything real?

Trump did want the 2K but the Republicans in the Senate refused. Whether you call it relief or stimulus, what's the difference? It's still wasteful spending by the Democrats. You can't blame Republicans for everything just because a Republican President is in the White House. All he does is sign the damn thing. The bills start in the House which for the last two years was under Democrat leadership.

Look at you, trying to make excuses! Ain't you cute?!

 

[Ray From Cleveland]

Ya, and fat ass Rush Limbaugh does. Lol. I was in the room for years. Rush tells you what stirs you up its entertainment. The main thing discussed behind closed doors is not the spy novel those ******* retards tell you. 95% of the time its how to keep the lights on and pay the bills. The conspiracy shit you hear is ludicrous. The shit thats really happening is so boring I doubt you would stay awake. The conventions use to be fun but they even took the fun out of those. Quit listening to that shit it will warp your mind and make you paranoid. Lol

Oh please. Just because you are involved with local politics doesn't mean you know what's going on on the high end in Washington. Biden won't answer questions. Do you know what he's going to do? He avoided the question on packing the courts. He avoided the question on making PR, DC or both states to secure commie power in the Senate. He was even evasive when asked about reparations, unlike Commie Harris. But oh! Eddie knows what's going on behind closed doors. Give me a break.

 

[Ray From Cleveland]

The problem is they will spend even more money and still run massive deficits.

Because nobody will hold them responsible. Why should they? The voters are not paying the debt or spending.

If everybody was paying income tax, that would stop a lot of this nonsense spending. The real problem is nearly half of our people don't. We could if somebody had the guts to pass a consumption tax that we all pay. When the deficit grows, so does the consumption tax. You'd see how fast people would be on the phone or on email to their representatives when they pass BS spending like we seen in the Covid relief package.

 

[tigerred59]

Biden: "If you elect me, your taxes are going to be raised" - Americans for Tax Reform

At a Joe Biden campaign rally in South Carolina on Friday, a voter told Biden that the Trump tax cut saved him money, but Biden shot back that he would raise taxes if elected. Biden: "By the way, how many of you did really well with that $1.9 trillion tax cut..." [Voter…

www.atr.org

Now, with a Democratic Senate, there is nothing to stop the Democrats. You Biden lovers might need a second job.
You can also make your kids get a job. Perhaps you should see a stockbroker and ask about tax shelters. You have been warned but you did not listen.

Source: "atr.com", whatever that is.

So you're saying Joe Biden is not going to raise your taxes?

Gotta love you suddenly conservative blow hards, who got no issues with Trump wasting 151 million tax dollars golfing every gotdamn week, 14 billion spent on welfare to farmers and counting, the trillion dollar tax cuts to the rich, the 2000 tax free lunches that can now be claimed and on and on and on,WHO THE **** YOU THINK PAYS FOR ALL THIS SHIT, YOU STUPID BRAIN DEAD LUMP OF COW SHIT?

Don't care. I want my share of the goodies, a SNAP card, some Trump Bucks, some reparations, and an Obamaphone.

Where's my damned Obamaphone?

Hey you rubber neck mf, I think its up your ass, I can hear it ringin

 

[tigerred59]

Ya, and fat ass Rush Limbaugh does. Lol. I was in the room for years. Rush tells you what stirs you up its entertainment. The main thing discussed behind closed doors is not the spy novel those ******* retards tell you. 95% of the time its how to keep the lights on and pay the bills. The conspiracy shit you hear is ludicrous. The shit thats really happening is so boring I doubt you would stay awake. The conventions use to be fun but they even took the fun out of those. Quit listening to that shit it will warp your mind and make you paranoid. Lol

Oh please. Just because you are involved with local politics doesn't mean you know what's going on on the high end in Washington. Biden won't answer questions. Do you know what he's going to do? He avoided the question on packing the courts. He avoided the question on making PR, DC or both states to secure commie power in the Senate. He was even evasive when asked about reparations, unlike Commie Harris. But oh! Eddie knows what's going on behind closed doors. Give me a break.

Wake us all up when you point that gun in your profile at yourself.

 

[Viktor]

Well thats kind of the point. The money doesn't go to debt till there is a balanced budget. As far as reparations "Whatch u talking bout Willis"? Sorry different strokes came to my head there. IDK why

They've been talking about reparations for years, just never had the power to actually do it. Well.......now they do have the power to do it.

Sens. Kamala Harris and Elizabeth Warren Back Idea for Reparations

Sen. Kamala Harris and Sen. Elizabeth Warren are the recent Democratic presidential candidates who are embracing reparations.

www.ebony.com

The Congress did pay reparations to Japanese Americans for their internment in WWII.
Democrats have already introduced 2 bills on reparations in the House. They mean to do it.

 

[Blues Man]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The US economy was doing fine under the Obama tax rate, even then the Debt under Obama doubled. Under Trump the Debt doubled again. Under Biden the Debt will keep going up. The crap hits the fan in 2022 or 2023 when the Fed needs to raise the interest rate and the cost of paying for that borrowed money crushes the US Budget, there will be weeping and gnashing of teeth....

Save us Joe Manchin. Stop the Green New Deal and other wasteful spending!

Will Biden actually address the debt? I have my doubts BUT what I asked still stands.

We are $28 trillion in debt. If someone says they are going to raise taxes they are saying they are going to be responsible for the debt.

Problem?

We all should demand we address our debt. We all love our "free stuff" but only like to condemn it out of others. Maybe if the taxes hurt enough they will start condemning "their guy" also.

If those who supported Trump have to pay higher taxes they only have his $8 trillion in new debt and tax cuts to blame.

Your post is confusing?!
1. Will Biden address the Debt? Short answer is NO.
2. If someone raises taxes and increases spending even more, are they addressing the Debt? HELL NO.
3. Problem? The "problem" is spending, and "spending" means entitlements. Much of the Federal Budget is "structural", i.e. "mandatory" spending, such as SS, Medicare, Medicaid, Welfare, and interest on the Debt. (see 2019 Budget below)
4. The Fed can "print money" but that only goes so far, if/when inflation exceeds 2%, the dollar eventually becomes worthless. We're on a very dangerous financial track.
5. Higher income taxes won't hit Trump supporters any more than the democrats. What will hit everyone is Bidens energy policy, with higher gas and electricity costs, and that will increase the cost of everything.

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

If Biden raised taxed 1 Trillion and then spends an extra 2 trillion that won't help BUT it won't be as bad as the one who cuts taxes and then spends an extra 2 trillion.

I'm all for slashing some of the things you list. I'm also for raising taxes to address our debt. Why are you so eager to avoid paying your portion?

1. The GOP economic assumption as shown in their Budgets is to grow the GDP at 4% or more with the tax cuts. We can say that is just plain STUPID, but that was their plan. Obama and Trump actually grew the economy at about 2%, so their rosy growth assumption failed.
2. The bad news is that we need to "fix" entitlements or they go bankrupt. SS will be bankrupt about 2030, and Medicare will be insolvent in 2026, and the democrats talk about "Medicare for all", WTF???
3. So Biden needs to "fix" SS & Medicare ASAP. (raise retirement age, raise co-pays, remove caps, etc.)
4. Why do you say I'm eager to avoid paying taxes? I pay whatever I owe. Look at the wealthy who buy their loopholes.

AND we need to raise taxes. Also, take out the money the Fed simply created out of nothing and we are negative growth. It's all a paper mirage. We have to address the debt.

How should we address our $27T Debt? The last time we had a Balanced Budget was when Newt had his "Contract with America".
So where would you cut spending, and where would you raise revenue?
Here are my recommendations:

• A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
• C. To cover the budget deficit the following taxes need to be raised:
  1. Raise the top tax rate ~7% above 2016 levels +$400b
  2. Implement a new ~3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• D. Reform "fix" entitlements, Medicare & Social Security, currently projected to be insolvent:

I'm going to cut the military and foreign aid. I'm going to cut the bail outs. I'm going to raise taxes. I'm going to make sure the poor does not suffer more than they do now.

P.S. We are $28 trillion in debt.

Do the math. The Budget is about $1T overspent. You didn't come close to reducing the $28T Debt.
To balance the Budget you'd need to cut about $500b and raise taxes about that much.
You can't just cut defense, you could, but that would put the US behind China, like when Trump took office.
Foreign Aid is about $55b, a drop in the bucket.

You need to reduce entitlements, aka "the 3rd rail" of politics.
How about cutting Welfare, Medicaid, and Education? Those charity "safety nets" are just too expensive.

I'd prefer to raise taxes and keep the next generation educated. I do agree with eliminating the Department of Education.

Thank you! Raising taxes to cover the Budget Deficit is a plausible solution.
Looking at the math:

What Is the Current US Federal Budget Deficit?

The U.S. federal budget deficit was $2.8 trillion in fiscal year 2021. Learn more about what impacts the federal budget and whether you should be concerned.

www.thebalance.com

"The U.S. federal budget deficit is projected to reach a record of $3.3 trillion in 2020. This increase is largely a result of government spending in reaction to the coronavirus pandemic. U.S. federal outlays for 2020 total $6.6 trillion, which is $2.2 trillion more than in 2019. Revenue for 2020 is projected to be $3.3 trillion, too, which leaves the deficit at $3.3 trillion."

2020 was a one-off pandemic year. The 2019 Budget Deficit was "only" $1T. So lets say we want to reduce the Debt 500b a year by raising taxes. Here is the normal Revenue "pie chart", with $3.5T in revenue and $4.5T in spending. Just to balance the budget, that would mean everyone's taxes go up 28%. So to start paying down the Debt about 500b a year means that everyone's tax needs to go up about 43%.
You okay raising everyone's Federal Tax about 43%?
View attachment 440053

No, this has been going on for years. You aren't going to blame it all on what happens in one year. Yes, it made it worse before but let's take the argument further.

The argument is to raise taxes when the economy is good for when it goes bad. Trump argued he was ruling over the greatest economy ever. Did we raise taxes? No, so now we will have to.

so you want to raise taxes when the economy is in the shitter like it is now?

Being $28 trillion in debt it would be the responsible thing to do. Failures of the past can be painful to fix.

I already told why 24% of the debt isn't really debt at all

and most of the remainder is owned by Americans who have invested in this country.

The debt is not that much of a problem. We should pay off the foreing holders of the debt but the rest doesn't matter

And we will have to raise taxes to do that.

no we can cut spending to do that

 

[pknopp]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The US economy was doing fine under the Obama tax rate, even then the Debt under Obama doubled. Under Trump the Debt doubled again. Under Biden the Debt will keep going up. The crap hits the fan in 2022 or 2023 when the Fed needs to raise the interest rate and the cost of paying for that borrowed money crushes the US Budget, there will be weeping and gnashing of teeth....

Save us Joe Manchin. Stop the Green New Deal and other wasteful spending!

Will Biden actually address the debt? I have my doubts BUT what I asked still stands.

We are $28 trillion in debt. If someone says they are going to raise taxes they are saying they are going to be responsible for the debt.

Problem?

We all should demand we address our debt. We all love our "free stuff" but only like to condemn it out of others. Maybe if the taxes hurt enough they will start condemning "their guy" also.

If those who supported Trump have to pay higher taxes they only have his $8 trillion in new debt and tax cuts to blame.

Your post is confusing?!
1. Will Biden address the Debt? Short answer is NO.
2. If someone raises taxes and increases spending even more, are they addressing the Debt? HELL NO.
3. Problem? The "problem" is spending, and "spending" means entitlements. Much of the Federal Budget is "structural", i.e. "mandatory" spending, such as SS, Medicare, Medicaid, Welfare, and interest on the Debt. (see 2019 Budget below)
4. The Fed can "print money" but that only goes so far, if/when inflation exceeds 2%, the dollar eventually becomes worthless. We're on a very dangerous financial track.
5. Higher income taxes won't hit Trump supporters any more than the democrats. What will hit everyone is Bidens energy policy, with higher gas and electricity costs, and that will increase the cost of everything.

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

If Biden raised taxed 1 Trillion and then spends an extra 2 trillion that won't help BUT it won't be as bad as the one who cuts taxes and then spends an extra 2 trillion.

I'm all for slashing some of the things you list. I'm also for raising taxes to address our debt. Why are you so eager to avoid paying your portion?

1. The GOP economic assumption as shown in their Budgets is to grow the GDP at 4% or more with the tax cuts. We can say that is just plain STUPID, but that was their plan. Obama and Trump actually grew the economy at about 2%, so their rosy growth assumption failed.
2. The bad news is that we need to "fix" entitlements or they go bankrupt. SS will be bankrupt about 2030, and Medicare will be insolvent in 2026, and the democrats talk about "Medicare for all", WTF???
3. So Biden needs to "fix" SS & Medicare ASAP. (raise retirement age, raise co-pays, remove caps, etc.)
4. Why do you say I'm eager to avoid paying taxes? I pay whatever I owe. Look at the wealthy who buy their loopholes.

AND we need to raise taxes. Also, take out the money the Fed simply created out of nothing and we are negative growth. It's all a paper mirage. We have to address the debt.

How should we address our $27T Debt? The last time we had a Balanced Budget was when Newt had his "Contract with America".
So where would you cut spending, and where would you raise revenue?
Here are my recommendations:

• A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
• C. To cover the budget deficit the following taxes need to be raised:
  1. Raise the top tax rate ~7% above 2016 levels +$400b
  2. Implement a new ~3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• D. Reform "fix" entitlements, Medicare & Social Security, currently projected to be insolvent:

I'm going to cut the military and foreign aid. I'm going to cut the bail outs. I'm going to raise taxes. I'm going to make sure the poor does not suffer more than they do now.

P.S. We are $28 trillion in debt.

Do the math. The Budget is about $1T overspent. You didn't come close to reducing the $28T Debt.
To balance the Budget you'd need to cut about $500b and raise taxes about that much.
You can't just cut defense, you could, but that would put the US behind China, like when Trump took office.
Foreign Aid is about $55b, a drop in the bucket.

You need to reduce entitlements, aka "the 3rd rail" of politics.
How about cutting Welfare, Medicaid, and Education? Those charity "safety nets" are just too expensive.

I'd prefer to raise taxes and keep the next generation educated. I do agree with eliminating the Department of Education.

Thank you! Raising taxes to cover the Budget Deficit is a plausible solution.
Looking at the math:

What Is the Current US Federal Budget Deficit?

The U.S. federal budget deficit was $2.8 trillion in fiscal year 2021. Learn more about what impacts the federal budget and whether you should be concerned.

www.thebalance.com

"The U.S. federal budget deficit is projected to reach a record of $3.3 trillion in 2020. This increase is largely a result of government spending in reaction to the coronavirus pandemic. U.S. federal outlays for 2020 total $6.6 trillion, which is $2.2 trillion more than in 2019. Revenue for 2020 is projected to be $3.3 trillion, too, which leaves the deficit at $3.3 trillion."

2020 was a one-off pandemic year. The 2019 Budget Deficit was "only" $1T. So lets say we want to reduce the Debt 500b a year by raising taxes. Here is the normal Revenue "pie chart", with $3.5T in revenue and $4.5T in spending. Just to balance the budget, that would mean everyone's taxes go up 28%. So to start paying down the Debt about 500b a year means that everyone's tax needs to go up about 43%.
You okay raising everyone's Federal Tax about 43%?
View attachment 440053

No, this has been going on for years. You aren't going to blame it all on what happens in one year. Yes, it made it worse before but let's take the argument further.

The argument is to raise taxes when the economy is good for when it goes bad. Trump argued he was ruling over the greatest economy ever. Did we raise taxes? No, so now we will have to.

so you want to raise taxes when the economy is in the shitter like it is now?

Being $28 trillion in debt it would be the responsible thing to do. Failures of the past can be painful to fix.

I already told why 24% of the debt isn't really debt at all

and most of the remainder is owned by Americans who have invested in this country.

The debt is not that much of a problem. We should pay off the foreing holders of the debt but the rest doesn't matter

And we will have to raise taxes to do that.

no we can cut spending to do that

The Markets will have none of that.

 

[kyzr]

Well thats kind of the point. The money doesn't go to debt till there is a balanced budget. As far as reparations "Whatch u talking bout Willis"? Sorry different strokes came to my head there. IDK why

They've been talking about reparations for years, just never had the power to actually do it. Well.......now they do have the power to do it.

Sens. Kamala Harris and Elizabeth Warren Back Idea for Reparations

Sen. Kamala Harris and Sen. Elizabeth Warren are the recent Democratic presidential candidates who are embracing reparations.

www.ebony.com

The Congress did pay reparations to Japanese Americans for their internment in WWII.
Democrats have already introduced 2 bills on reparations in the House. They mean to do it.

Reparations will never happen. Joe Manchin won't allow it.

 

[Blues Man]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The US economy was doing fine under the Obama tax rate, even then the Debt under Obama doubled. Under Trump the Debt doubled again. Under Biden the Debt will keep going up. The crap hits the fan in 2022 or 2023 when the Fed needs to raise the interest rate and the cost of paying for that borrowed money crushes the US Budget, there will be weeping and gnashing of teeth....

Save us Joe Manchin. Stop the Green New Deal and other wasteful spending!

Will Biden actually address the debt? I have my doubts BUT what I asked still stands.

We are $28 trillion in debt. If someone says they are going to raise taxes they are saying they are going to be responsible for the debt.

Problem?

We all should demand we address our debt. We all love our "free stuff" but only like to condemn it out of others. Maybe if the taxes hurt enough they will start condemning "their guy" also.

If those who supported Trump have to pay higher taxes they only have his $8 trillion in new debt and tax cuts to blame.

Your post is confusing?!
1. Will Biden address the Debt? Short answer is NO.
2. If someone raises taxes and increases spending even more, are they addressing the Debt? HELL NO.
3. Problem? The "problem" is spending, and "spending" means entitlements. Much of the Federal Budget is "structural", i.e. "mandatory" spending, such as SS, Medicare, Medicaid, Welfare, and interest on the Debt. (see 2019 Budget below)
4. The Fed can "print money" but that only goes so far, if/when inflation exceeds 2%, the dollar eventually becomes worthless. We're on a very dangerous financial track.
5. Higher income taxes won't hit Trump supporters any more than the democrats. What will hit everyone is Bidens energy policy, with higher gas and electricity costs, and that will increase the cost of everything.

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

If Biden raised taxed 1 Trillion and then spends an extra 2 trillion that won't help BUT it won't be as bad as the one who cuts taxes and then spends an extra 2 trillion.

I'm all for slashing some of the things you list. I'm also for raising taxes to address our debt. Why are you so eager to avoid paying your portion?

1. The GOP economic assumption as shown in their Budgets is to grow the GDP at 4% or more with the tax cuts. We can say that is just plain STUPID, but that was their plan. Obama and Trump actually grew the economy at about 2%, so their rosy growth assumption failed.
2. The bad news is that we need to "fix" entitlements or they go bankrupt. SS will be bankrupt about 2030, and Medicare will be insolvent in 2026, and the democrats talk about "Medicare for all", WTF???
3. So Biden needs to "fix" SS & Medicare ASAP. (raise retirement age, raise co-pays, remove caps, etc.)
4. Why do you say I'm eager to avoid paying taxes? I pay whatever I owe. Look at the wealthy who buy their loopholes.

AND we need to raise taxes. Also, take out the money the Fed simply created out of nothing and we are negative growth. It's all a paper mirage. We have to address the debt.

How should we address our $27T Debt? The last time we had a Balanced Budget was when Newt had his "Contract with America".
So where would you cut spending, and where would you raise revenue?
Here are my recommendations:

• A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
• C. To cover the budget deficit the following taxes need to be raised:
  1. Raise the top tax rate ~7% above 2016 levels +$400b
  2. Implement a new ~3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• D. Reform "fix" entitlements, Medicare & Social Security, currently projected to be insolvent:

I'm going to cut the military and foreign aid. I'm going to cut the bail outs. I'm going to raise taxes. I'm going to make sure the poor does not suffer more than they do now.

P.S. We are $28 trillion in debt.

Do the math. The Budget is about $1T overspent. You didn't come close to reducing the $28T Debt.
To balance the Budget you'd need to cut about $500b and raise taxes about that much.
You can't just cut defense, you could, but that would put the US behind China, like when Trump took office.
Foreign Aid is about $55b, a drop in the bucket.

You need to reduce entitlements, aka "the 3rd rail" of politics.
How about cutting Welfare, Medicaid, and Education? Those charity "safety nets" are just too expensive.

I'd prefer to raise taxes and keep the next generation educated. I do agree with eliminating the Department of Education.

Thank you! Raising taxes to cover the Budget Deficit is a plausible solution.
Looking at the math:

What Is the Current US Federal Budget Deficit?

The U.S. federal budget deficit was $2.8 trillion in fiscal year 2021. Learn more about what impacts the federal budget and whether you should be concerned.

www.thebalance.com

"The U.S. federal budget deficit is projected to reach a record of $3.3 trillion in 2020. This increase is largely a result of government spending in reaction to the coronavirus pandemic. U.S. federal outlays for 2020 total $6.6 trillion, which is $2.2 trillion more than in 2019. Revenue for 2020 is projected to be $3.3 trillion, too, which leaves the deficit at $3.3 trillion."

2020 was a one-off pandemic year. The 2019 Budget Deficit was "only" $1T. So lets say we want to reduce the Debt 500b a year by raising taxes. Here is the normal Revenue "pie chart", with $3.5T in revenue and $4.5T in spending. Just to balance the budget, that would mean everyone's taxes go up 28%. So to start paying down the Debt about 500b a year means that everyone's tax needs to go up about 43%.
You okay raising everyone's Federal Tax about 43%?
View attachment 440053

No, this has been going on for years. You aren't going to blame it all on what happens in one year. Yes, it made it worse before but let's take the argument further.

The argument is to raise taxes when the economy is good for when it goes bad. Trump argued he was ruling over the greatest economy ever. Did we raise taxes? No, so now we will have to.

so you want to raise taxes when the economy is in the shitter like it is now?

Being $28 trillion in debt it would be the responsible thing to do. Failures of the past can be painful to fix.

I already told why 24% of the debt isn't really debt at all

and most of the remainder is owned by Americans who have invested in this country.

The debt is not that much of a problem. We should pay off the foreing holders of the debt but the rest doesn't matter

And we will have to raise taxes to do that.

no we can cut spending to do that

The Markets will have none of that.

the markets have no choice in the matter

 

[pknopp]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The US economy was doing fine under the Obama tax rate, even then the Debt under Obama doubled. Under Trump the Debt doubled again. Under Biden the Debt will keep going up. The crap hits the fan in 2022 or 2023 when the Fed needs to raise the interest rate and the cost of paying for that borrowed money crushes the US Budget, there will be weeping and gnashing of teeth....

Save us Joe Manchin. Stop the Green New Deal and other wasteful spending!

Will Biden actually address the debt? I have my doubts BUT what I asked still stands.

We are $28 trillion in debt. If someone says they are going to raise taxes they are saying they are going to be responsible for the debt.

Problem?

We all should demand we address our debt. We all love our "free stuff" but only like to condemn it out of others. Maybe if the taxes hurt enough they will start condemning "their guy" also.

If those who supported Trump have to pay higher taxes they only have his $8 trillion in new debt and tax cuts to blame.

Your post is confusing?!
1. Will Biden address the Debt? Short answer is NO.
2. If someone raises taxes and increases spending even more, are they addressing the Debt? HELL NO.
3. Problem? The "problem" is spending, and "spending" means entitlements. Much of the Federal Budget is "structural", i.e. "mandatory" spending, such as SS, Medicare, Medicaid, Welfare, and interest on the Debt. (see 2019 Budget below)
4. The Fed can "print money" but that only goes so far, if/when inflation exceeds 2%, the dollar eventually becomes worthless. We're on a very dangerous financial track.
5. Higher income taxes won't hit Trump supporters any more than the democrats. What will hit everyone is Bidens energy policy, with higher gas and electricity costs, and that will increase the cost of everything.

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

If Biden raised taxed 1 Trillion and then spends an extra 2 trillion that won't help BUT it won't be as bad as the one who cuts taxes and then spends an extra 2 trillion.

I'm all for slashing some of the things you list. I'm also for raising taxes to address our debt. Why are you so eager to avoid paying your portion?

1. The GOP economic assumption as shown in their Budgets is to grow the GDP at 4% or more with the tax cuts. We can say that is just plain STUPID, but that was their plan. Obama and Trump actually grew the economy at about 2%, so their rosy growth assumption failed.
2. The bad news is that we need to "fix" entitlements or they go bankrupt. SS will be bankrupt about 2030, and Medicare will be insolvent in 2026, and the democrats talk about "Medicare for all", WTF???
3. So Biden needs to "fix" SS & Medicare ASAP. (raise retirement age, raise co-pays, remove caps, etc.)
4. Why do you say I'm eager to avoid paying taxes? I pay whatever I owe. Look at the wealthy who buy their loopholes.

AND we need to raise taxes. Also, take out the money the Fed simply created out of nothing and we are negative growth. It's all a paper mirage. We have to address the debt.

How should we address our $27T Debt? The last time we had a Balanced Budget was when Newt had his "Contract with America".
So where would you cut spending, and where would you raise revenue?
Here are my recommendations:

• A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
• C. To cover the budget deficit the following taxes need to be raised:
  1. Raise the top tax rate ~7% above 2016 levels +$400b
  2. Implement a new ~3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• D. Reform "fix" entitlements, Medicare & Social Security, currently projected to be insolvent:

I'm going to cut the military and foreign aid. I'm going to cut the bail outs. I'm going to raise taxes. I'm going to make sure the poor does not suffer more than they do now.

P.S. We are $28 trillion in debt.

Do the math. The Budget is about $1T overspent. You didn't come close to reducing the $28T Debt.
To balance the Budget you'd need to cut about $500b and raise taxes about that much.
You can't just cut defense, you could, but that would put the US behind China, like when Trump took office.
Foreign Aid is about $55b, a drop in the bucket.

You need to reduce entitlements, aka "the 3rd rail" of politics.
How about cutting Welfare, Medicaid, and Education? Those charity "safety nets" are just too expensive.

I'd prefer to raise taxes and keep the next generation educated. I do agree with eliminating the Department of Education.

Thank you! Raising taxes to cover the Budget Deficit is a plausible solution.
Looking at the math:

What Is the Current US Federal Budget Deficit?

The U.S. federal budget deficit was $2.8 trillion in fiscal year 2021. Learn more about what impacts the federal budget and whether you should be concerned.

www.thebalance.com

"The U.S. federal budget deficit is projected to reach a record of $3.3 trillion in 2020. This increase is largely a result of government spending in reaction to the coronavirus pandemic. U.S. federal outlays for 2020 total $6.6 trillion, which is $2.2 trillion more than in 2019. Revenue for 2020 is projected to be $3.3 trillion, too, which leaves the deficit at $3.3 trillion."

2020 was a one-off pandemic year. The 2019 Budget Deficit was "only" $1T. So lets say we want to reduce the Debt 500b a year by raising taxes. Here is the normal Revenue "pie chart", with $3.5T in revenue and $4.5T in spending. Just to balance the budget, that would mean everyone's taxes go up 28%. So to start paying down the Debt about 500b a year means that everyone's tax needs to go up about 43%.
You okay raising everyone's Federal Tax about 43%?
View attachment 440053

No, this has been going on for years. You aren't going to blame it all on what happens in one year. Yes, it made it worse before but let's take the argument further.

The argument is to raise taxes when the economy is good for when it goes bad. Trump argued he was ruling over the greatest economy ever. Did we raise taxes? No, so now we will have to.

so you want to raise taxes when the economy is in the shitter like it is now?

Being $28 trillion in debt it would be the responsible thing to do. Failures of the past can be painful to fix.

I already told why 24% of the debt isn't really debt at all

and most of the remainder is owned by Americans who have invested in this country.

The debt is not that much of a problem. We should pay off the foreing holders of the debt but the rest doesn't matter

And we will have to raise taxes to do that.

no we can cut spending to do that

The Markets will have none of that.

the markets have no choice in the matter

Of course they do. They run the country.

 

[Blues Man]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The US economy was doing fine under the Obama tax rate, even then the Debt under Obama doubled. Under Trump the Debt doubled again. Under Biden the Debt will keep going up. The crap hits the fan in 2022 or 2023 when the Fed needs to raise the interest rate and the cost of paying for that borrowed money crushes the US Budget, there will be weeping and gnashing of teeth....

Save us Joe Manchin. Stop the Green New Deal and other wasteful spending!

Will Biden actually address the debt? I have my doubts BUT what I asked still stands.

We are $28 trillion in debt. If someone says they are going to raise taxes they are saying they are going to be responsible for the debt.

Problem?

We all should demand we address our debt. We all love our "free stuff" but only like to condemn it out of others. Maybe if the taxes hurt enough they will start condemning "their guy" also.

If those who supported Trump have to pay higher taxes they only have his $8 trillion in new debt and tax cuts to blame.

Your post is confusing?!
1. Will Biden address the Debt? Short answer is NO.
2. If someone raises taxes and increases spending even more, are they addressing the Debt? HELL NO.
3. Problem? The "problem" is spending, and "spending" means entitlements. Much of the Federal Budget is "structural", i.e. "mandatory" spending, such as SS, Medicare, Medicaid, Welfare, and interest on the Debt. (see 2019 Budget below)
4. The Fed can "print money" but that only goes so far, if/when inflation exceeds 2%, the dollar eventually becomes worthless. We're on a very dangerous financial track.
5. Higher income taxes won't hit Trump supporters any more than the democrats. What will hit everyone is Bidens energy policy, with higher gas and electricity costs, and that will increase the cost of everything.

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

If Biden raised taxed 1 Trillion and then spends an extra 2 trillion that won't help BUT it won't be as bad as the one who cuts taxes and then spends an extra 2 trillion.

I'm all for slashing some of the things you list. I'm also for raising taxes to address our debt. Why are you so eager to avoid paying your portion?

1. The GOP economic assumption as shown in their Budgets is to grow the GDP at 4% or more with the tax cuts. We can say that is just plain STUPID, but that was their plan. Obama and Trump actually grew the economy at about 2%, so their rosy growth assumption failed.
2. The bad news is that we need to "fix" entitlements or they go bankrupt. SS will be bankrupt about 2030, and Medicare will be insolvent in 2026, and the democrats talk about "Medicare for all", WTF???
3. So Biden needs to "fix" SS & Medicare ASAP. (raise retirement age, raise co-pays, remove caps, etc.)
4. Why do you say I'm eager to avoid paying taxes? I pay whatever I owe. Look at the wealthy who buy their loopholes.

AND we need to raise taxes. Also, take out the money the Fed simply created out of nothing and we are negative growth. It's all a paper mirage. We have to address the debt.

How should we address our $27T Debt? The last time we had a Balanced Budget was when Newt had his "Contract with America".
So where would you cut spending, and where would you raise revenue?
Here are my recommendations:

• A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
• C. To cover the budget deficit the following taxes need to be raised:
  1. Raise the top tax rate ~7% above 2016 levels +$400b
  2. Implement a new ~3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• D. Reform "fix" entitlements, Medicare & Social Security, currently projected to be insolvent:

I'm going to cut the military and foreign aid. I'm going to cut the bail outs. I'm going to raise taxes. I'm going to make sure the poor does not suffer more than they do now.

P.S. We are $28 trillion in debt.

Do the math. The Budget is about $1T overspent. You didn't come close to reducing the $28T Debt.
To balance the Budget you'd need to cut about $500b and raise taxes about that much.
You can't just cut defense, you could, but that would put the US behind China, like when Trump took office.
Foreign Aid is about $55b, a drop in the bucket.

You need to reduce entitlements, aka "the 3rd rail" of politics.
How about cutting Welfare, Medicaid, and Education? Those charity "safety nets" are just too expensive.

I'd prefer to raise taxes and keep the next generation educated. I do agree with eliminating the Department of Education.

Thank you! Raising taxes to cover the Budget Deficit is a plausible solution.
Looking at the math:

What Is the Current US Federal Budget Deficit?

The U.S. federal budget deficit was $2.8 trillion in fiscal year 2021. Learn more about what impacts the federal budget and whether you should be concerned.

www.thebalance.com

"The U.S. federal budget deficit is projected to reach a record of $3.3 trillion in 2020. This increase is largely a result of government spending in reaction to the coronavirus pandemic. U.S. federal outlays for 2020 total $6.6 trillion, which is $2.2 trillion more than in 2019. Revenue for 2020 is projected to be $3.3 trillion, too, which leaves the deficit at $3.3 trillion."

2020 was a one-off pandemic year. The 2019 Budget Deficit was "only" $1T. So lets say we want to reduce the Debt 500b a year by raising taxes. Here is the normal Revenue "pie chart", with $3.5T in revenue and $4.5T in spending. Just to balance the budget, that would mean everyone's taxes go up 28%. So to start paying down the Debt about 500b a year means that everyone's tax needs to go up about 43%.
You okay raising everyone's Federal Tax about 43%?
View attachment 440053

No, this has been going on for years. You aren't going to blame it all on what happens in one year. Yes, it made it worse before but let's take the argument further.

The argument is to raise taxes when the economy is good for when it goes bad. Trump argued he was ruling over the greatest economy ever. Did we raise taxes? No, so now we will have to.

so you want to raise taxes when the economy is in the shitter like it is now?

Being $28 trillion in debt it would be the responsible thing to do. Failures of the past can be painful to fix.

I already told why 24% of the debt isn't really debt at all

and most of the remainder is owned by Americans who have invested in this country.

The debt is not that much of a problem. We should pay off the foreing holders of the debt but the rest doesn't matter

And we will have to raise taxes to do that.

no we can cut spending to do that

The Markets will have none of that.

the markets have no choice in the matter

Of course they do. They run the country.

no they don't

 

[pknopp]

We are $28 trillion in debt so someone saying "I will raise taxes" is simply saying they are willing to be responsible for our debt.

Problem?

The US economy was doing fine under the Obama tax rate, even then the Debt under Obama doubled. Under Trump the Debt doubled again. Under Biden the Debt will keep going up. The crap hits the fan in 2022 or 2023 when the Fed needs to raise the interest rate and the cost of paying for that borrowed money crushes the US Budget, there will be weeping and gnashing of teeth....

Save us Joe Manchin. Stop the Green New Deal and other wasteful spending!

Will Biden actually address the debt? I have my doubts BUT what I asked still stands.

We are $28 trillion in debt. If someone says they are going to raise taxes they are saying they are going to be responsible for the debt.

Problem?

We all should demand we address our debt. We all love our "free stuff" but only like to condemn it out of others. Maybe if the taxes hurt enough they will start condemning "their guy" also.

If those who supported Trump have to pay higher taxes they only have his $8 trillion in new debt and tax cuts to blame.

Your post is confusing?!
1. Will Biden address the Debt? Short answer is NO.
2. If someone raises taxes and increases spending even more, are they addressing the Debt? HELL NO.
3. Problem? The "problem" is spending, and "spending" means entitlements. Much of the Federal Budget is "structural", i.e. "mandatory" spending, such as SS, Medicare, Medicaid, Welfare, and interest on the Debt. (see 2019 Budget below)
4. The Fed can "print money" but that only goes so far, if/when inflation exceeds 2%, the dollar eventually becomes worthless. We're on a very dangerous financial track.
5. Higher income taxes won't hit Trump supporters any more than the democrats. What will hit everyone is Bidens energy policy, with higher gas and electricity costs, and that will increase the cost of everything.

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

If Biden raised taxed 1 Trillion and then spends an extra 2 trillion that won't help BUT it won't be as bad as the one who cuts taxes and then spends an extra 2 trillion.

I'm all for slashing some of the things you list. I'm also for raising taxes to address our debt. Why are you so eager to avoid paying your portion?

1. The GOP economic assumption as shown in their Budgets is to grow the GDP at 4% or more with the tax cuts. We can say that is just plain STUPID, but that was their plan. Obama and Trump actually grew the economy at about 2%, so their rosy growth assumption failed.
2. The bad news is that we need to "fix" entitlements or they go bankrupt. SS will be bankrupt about 2030, and Medicare will be insolvent in 2026, and the democrats talk about "Medicare for all", WTF???
3. So Biden needs to "fix" SS & Medicare ASAP. (raise retirement age, raise co-pays, remove caps, etc.)
4. Why do you say I'm eager to avoid paying taxes? I pay whatever I owe. Look at the wealthy who buy their loopholes.

AND we need to raise taxes. Also, take out the money the Fed simply created out of nothing and we are negative growth. It's all a paper mirage. We have to address the debt.

How should we address our $27T Debt? The last time we had a Balanced Budget was when Newt had his "Contract with America".
So where would you cut spending, and where would you raise revenue?
Here are my recommendations:

• A. Hire another "Grace Commission" to audit and fix the Federal budget deficit
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
• C. To cover the budget deficit the following taxes need to be raised:
  1. Raise the top tax rate ~7% above 2016 levels +$400b
  2. Implement a new ~3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• D. Reform "fix" entitlements, Medicare & Social Security, currently projected to be insolvent:

I'm going to cut the military and foreign aid. I'm going to cut the bail outs. I'm going to raise taxes. I'm going to make sure the poor does not suffer more than they do now.

P.S. We are $28 trillion in debt.

Do the math. The Budget is about $1T overspent. You didn't come close to reducing the $28T Debt.
To balance the Budget you'd need to cut about $500b and raise taxes about that much.
You can't just cut defense, you could, but that would put the US behind China, like when Trump took office.
Foreign Aid is about $55b, a drop in the bucket.

You need to reduce entitlements, aka "the 3rd rail" of politics.
How about cutting Welfare, Medicaid, and Education? Those charity "safety nets" are just too expensive.

I'd prefer to raise taxes and keep the next generation educated. I do agree with eliminating the Department of Education.

Thank you! Raising taxes to cover the Budget Deficit is a plausible solution.
Looking at the math:

What Is the Current US Federal Budget Deficit?

The U.S. federal budget deficit was $2.8 trillion in fiscal year 2021. Learn more about what impacts the federal budget and whether you should be concerned.

www.thebalance.com

"The U.S. federal budget deficit is projected to reach a record of $3.3 trillion in 2020. This increase is largely a result of government spending in reaction to the coronavirus pandemic. U.S. federal outlays for 2020 total $6.6 trillion, which is $2.2 trillion more than in 2019. Revenue for 2020 is projected to be $3.3 trillion, too, which leaves the deficit at $3.3 trillion."

2020 was a one-off pandemic year. The 2019 Budget Deficit was "only" $1T. So lets say we want to reduce the Debt 500b a year by raising taxes. Here is the normal Revenue "pie chart", with $3.5T in revenue and $4.5T in spending. Just to balance the budget, that would mean everyone's taxes go up 28%. So to start paying down the Debt about 500b a year means that everyone's tax needs to go up about 43%.
You okay raising everyone's Federal Tax about 43%?
View attachment 440053

No, this has been going on for years. You aren't going to blame it all on what happens in one year. Yes, it made it worse before but let's take the argument further.

The argument is to raise taxes when the economy is good for when it goes bad. Trump argued he was ruling over the greatest economy ever. Did we raise taxes? No, so now we will have to.

so you want to raise taxes when the economy is in the shitter like it is now?

Being $28 trillion in debt it would be the responsible thing to do. Failures of the past can be painful to fix.

I already told why 24% of the debt isn't really debt at all

and most of the remainder is owned by Americans who have invested in this country.

The debt is not that much of a problem. We should pay off the foreing holders of the debt but the rest doesn't matter

And we will have to raise taxes to do that.

no we can cut spending to do that

The Markets will have none of that.

the markets have no choice in the matter

Of course they do. They run the country.

no they don't

Of course they do which is why they have complete freedom to hire illegals with no concern over being arrested.