Fiscal conservatism now? Or it'll be shoved down our throats later.

[YoursTruly]

We're way past that point. It's an inevitability at this point.

I think you're wrong. At least to come aspect. The chances of Republican voters only supporting conservatives in the coming elections is zero. The chances of the RINO's getting fired and replaced by fiscal conservatives is even less than that.

So in a sense, you're right. But there is an easy solution. But the solution is impossible.

 

[Votto]

I sent this to my congressman. He is not one of the 8 fiscal hawks, unfortunately.

Congress thinks getting fiscal is having gay sex in Senate chambers.

 

[YoursTruly]

I could still balance the Budget with a surplus if the DC clowns passed spending cuts and raised taxes, but we both know they won't.

Here is my suggested plan of action:

1. Raise all income tax rates and add a 4% Fed sales tax. (gain $800b)
2. Add a 0.2% financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains $150b/yr, see link below)
3. Add a Remittance Tax on all money sent out of the US (~$6b/yr, see link below, pays for wall & CBP)
4. Remove the cap on SS tax, and raise the ages from 62/67 to 63/68 (saves SS)
5. Raise the tax and co-pay for Medicare, add a co-pay for Medicaid (google "fix Medicare")
6. Remove Capital Gains tax break (39% to 20%) gain is ordinary income. ($100b/yr gained)
7. So if all of the above taxes were implemented, the Budget Deficit would be reduced by ~$1Tb a year. To get a surplus to start paying down the $34T Debt spending would need to be reduced to 2019 levels, $4.4T a year, not $7T a year.

Financial Transactions Tax: What You Need to Know - SmartAsset | SmartAsset

A financial transactions tax is levied on trades made of stocks, bonds, derivatives and other financial products. It is favored by progressives.

smartasset.com

The United States Loses $150 Billion Annually in Remittances

Many Americans know very little, if anything, about “remittances,” (also known as “remittance payments”) and how they affect the U.S. economy. The term “remittance” refers to money earned in the United States that is transferred to relatives, friends or business associates who are still abroad...

www.fairus.org

These are the Budgets I found in wiki:
2023 $6.1T - $4.4T = $1.7T deficit
2022 $6.3T - $4.9T = $1.4T deficit
2021 $6.8T - $4.0T = $2.8T deficit
2020 $6.5T - $3.4T = $3.1T deficit
2019 $4.4T - $3.4Y = $1.0T deficit

We know where 2024's Budget will be. Biden and the Senate whores made a deal...

Leave the SS & medicaid stuff alone. SS makes money. They still take in more money than they pay out. In fact, SS owns like $2 trillion of the national debt.

It's fine. Plus you're talking about a program where most of the people on it, have already paid their life's share of taxes feeding it. It's ridiculous to tax them on what they've already been taxed for.

At least do all the other stuff first. And then look at what they could bleed from the old and disabled.

 

[kyzr]

the people cant handle more taxes, not to mention our problems will never be solved with more taxes,, what we need is more revenue which means more production of wanted items and that requires lower taxes and more freedom,,

That makes the deficit and interest on the Debt even bigger.

Agreed that we need to cut spending, but the math says we need more revenue too.

That tax cut bullshit has been tried and it ALWAYS FAILS.

Newt showed us how to balanced the budget.

 

[Toddsterpatriot]

I could still balance the Budget with a surplus if the DC clowns passed spending cuts and raised taxes, but we both know they won't.

Here is my suggested plan of action:

1. Raise all income tax rates and add a 4% Fed sales tax. (gain $800b)
2. Add a 0.2% financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains $150b/yr, see link below)
3. Add a Remittance Tax on all money sent out of the US (~$6b/yr, see link below, pays for wall & CBP)
4. Remove the cap on SS tax, and raise the ages from 62/67 to 63/68 (saves SS)
5. Raise the tax and co-pay for Medicare, add a co-pay for Medicaid (google "fix Medicare")
6. Remove Capital Gains tax break (39% to 20%) gain is ordinary income. ($100b/yr gained)
7. So if all of the above taxes were implemented, the Budget Deficit would be reduced by ~$1Tb a year. To get a surplus to start paying down the $34T Debt spending would need to be reduced to 2019 levels, $4.4T a year, not $7T a year.

Financial Transactions Tax: What You Need to Know - SmartAsset | SmartAsset

A financial transactions tax is levied on trades made of stocks, bonds, derivatives and other financial products. It is favored by progressives.

smartasset.com

The United States Loses $150 Billion Annually in Remittances

Many Americans know very little, if anything, about “remittances,” (also known as “remittance payments”) and how they affect the U.S. economy. The term “remittance” refers to money earned in the United States that is transferred to relatives, friends or business associates who are still abroad...

www.fairus.org

These are the Budgets I found in wiki:
2023 $6.1T - $4.4T = $1.7T deficit
2022 $6.3T - $4.9T = $1.4T deficit
2021 $6.8T - $4.0T = $2.8T deficit
2020 $6.5T - $3.4T = $3.1T deficit
2019 $4.4T - $3.4Y = $1.0T deficit

We know where 2024's Budget will be. Biden and the Senate whores made a deal...

Add a 0.2% financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains $150b/yr, see link below)

Unless traders use a foreign exchange for their transactions.
Then it loses money......and jobs.

Remove the cap on SS tax,

Extra revenue now, extra expense later.

add a co-pay for Medicaid
Ummmm.....Medicaid is for poor people.

Remove Capital Gains tax break (39% to 20%) gain is ordinary income. ($100b/yr gained)
Did capital gains revenue increase the last time the rate was hiked?

 

[kyzr]

Leave the SS & medicaid stuff alone. SS makes money. They still take in more money than they pay out. In fact, SS owns like $2 trillion of the national debt.
It's fine. Plus you're talking about a program where most of the people on it, have already paid their life's share of taxes feeding it. It's ridiculous to tax them on what they've already been taxed for.

At least do all the other stuff first. And then look at what they could bleed from the old and disabled.

1. SS will be insolvent in 2034 if its not "fixed". That means unless we raise the cap SS only pays out what it takes in, and we'd get about 75% of promised benefits. Without

2. Welfare and Medicaid are charity. They would be the first items cut.

3. Defense needs to be cut back to 2019 levels.

 

[Toddsterpatriot]

But like oil companies (for only an example) who get billions in tax subsidies,

LOL!
I love this claim.
I never see the billions in subsidies explained.

 

[progressive hunter]

That makes the deficit and interest on the Debt even bigger.

Agreed that we need to cut spending, but the math says we need more revenue too.

That tax cut bullshit has been tried and it ALWAYS FAILS.

Newt showed us how to balanced the budget.

the people cant create more revenue if they are taxed to the point they cant pay for basic needs let alone the items that create the real revenue,,,

it has been tried and worked,, its just that another politician comes by and raises them again,,

of course its a little more complex than we can discuss here,, but tax cuts both corp and private will put more money in circulation to create more jobs which increases the total of sources adding to the revenue,,

it wouldnt take much for me to hire at least one person and maybe two, but I can never do that when I am struggling to just get by,,

 

[kyzr]

Add a 0.2% financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains $150b/yr, see link below)

Unless traders use a foreign exchange for their transactions.
Then it loses money......and jobs.

Remove the cap on SS tax,

Extra revenue now, extra expense later.

add a co-pay for Medicaid
Ummmm.....Medicaid is for poor people.

Remove Capital Gains tax break (39% to 20%) gain is ordinary income. ($100b/yr gained)
Did capital gains revenue increase the last time the rate was hiked?

1. Write the law that US citizens must use US exchanges, or JAIL.

2. Removing the cap is a good fix for SS.

3. Everyone can pay a co-pay. Either that or delete Welfare and Medicaid. Choose.
You may not yet realize how bad a dollar collapse will be.

 

[Toddsterpatriot]

Leave the SS & medicaid stuff alone. SS makes money. They still take in more money than they pay out.

Not anymore.


How did program income compare to costs in 2022? In 2022, the OASI Trust Fund’s cost of $1,097.5 billion exceeded income by $40.7 billion. In contrast, the DI Trust Fund’s income of $165.1 billion exceeded cost by $18.6 billion. Combining the experience of the two separate funds, Social Security’s cost exceeded income by $22.1 billion.

Trustees Report Summary

A SUMMARY OF THE 2023 ANNUAL REPORTS

www.ssa.gov

 

[kyzr]

the people cant create more revenue if they are taxed to the point they cant pay for basic needs let alone the items that create the real revenue,,,

it has been tried and worked,, its just that another politician comes by and raises them again,,

of course its a little more complex than we can discuss here,, but tax cuts both corp and private will put more money in circulation to create more jobs which increases the total of sources adding to the revenue,,

it wouldn't take much for me to hire at least one person and maybe two, but I can never do that when I am struggling to just get by,,

1. Corporate tax cuts means the corporations have more money to move even more jobs overseas.

2. People can afford a few dollars more of taxes..The DC whores borrowed $100,000 for every American ($34T / 331m). Those are real dollars that need to be paid back.

3. We are WAY past tax cuts helping. We need immediate action to stop that $34T from climbing. You do know that the rating agencies downgraded US debt? We are on the verge of "JUNK".

 

[Toddsterpatriot]

1. Write the law that US citizens must use US exchanges, or JAIL.

2. Removing the cap is a good fix for SS.

3. Everyone can pay a co-pay. Either that or delete Welfare and Medicaid. Choose.
You may not yet realize how bad a dollar collapse will be.

1. Write the law that US citizens must use US exchanges, or JAIL.

Da comrade! LOL!

2. Removing the cap is a good fix for SS.

Charge me twice as much, pay me twice as much. How is that a fix?

3. Everyone can pay a co-pay.

Even the poor people with zero income and no assets? Sure.

Either that or delete Welfare and Medicaid.

OK.

 

[Foxfyre]

That makes the deficit and interest on the Debt even bigger.

Agreed that we need to cut spending, but the math says we need more revenue too.

That tax cut bullshit has been tried and it ALWAYS FAILS.

Newt showed us how to balanced the budget.

Newt did it with a tax cut though.

 

[progressive hunter]

1. Corporate tax cuts means the corporations have more money to move even more jobs overseas.

2. People can afford a few dollars more of taxes..The DC whores borrowed $100,000 for every American ($34T / 331m). Those are real dollars that need to be paid back.

3. We are WAY past tax cuts helping. We need immediate action to stop that $34T from climbing. You do know that the rating agencies downgraded US debt? We are on the verge of "JUNK".

you punish them if they move overseas,, problem solved,,

being able to afford more taxs doesnt mean it doesnt make it worse for them,, and it sure means they cant hire outside help that would increase the tax base,,

I dont think we are,, its gonna hurt and a lot of things will change,, but the option will destroy the lower and middle class and create a two class system,,,,


as for welfare it should be pushed to its lowest point of contact and be ran by communities with some local and state support,,

 

[Toddsterpatriot]

1. Corporate tax cuts means the corporations have more money to move even more jobs overseas.

2. People can afford a few dollars more of taxes..The DC whores borrowed $100,000 for every American ($34T / 331m). Those are real dollars that need to be paid back.

3. We are WAY past tax cuts helping. We need immediate action to stop that $34T from climbing. You do know that the rating agencies downgraded US debt? We are on the verge of "JUNK".

Corporate tax cuts means the corporations have more money to move even more jobs overseas.

Less likely to move with 21% taxes than with 35%.

 

[kyzr]

1. Write the law that US citizens must use US exchanges, or JAIL.
Da comrade! LOL!

2. Removing the cap is a good fix for SS.
Charge me twice as much, pay me twice as much. How is that a fix?

3. Everyone can pay a co-pay.
Even the poor people with zero income and no assets? Sure.

Either that or delete Welfare and Medicaid.
OK.

1. It can be done. The Transaction Tax works in Europe.

2. Nope. Remove the cap, add means testing.

3. No money no service.

 

[kyzr]

Newt did it with a tax cut though.

Yeah, but the interest on the Debt back then was "only" $100b or so. Now its approaching $1T a year.

That "tax cut" ship sailed. Its time for real math, not DC math.

 

[Toddsterpatriot]

1. It can be done. The Transaction Tax works in Europe.

2. Nope. Remove the cap, add means testing.

3. No money no service.

1. It can be done. The Transaction Tax works in Europe.

Show me where it works in Europe.

2. Nope. Remove the cap, add means testing.

It's already skewed to the low-end.

3. No money no service.

Awesome! They'll all go to the emergency room.

 

[rampart]

You do know that Corporations add the cost of taxes to their goods and services ? It's a thinly veiled sales tax.

you do know that i can choose not to pay the tax by simply not buying the product?

employee wages are also passed to the customers. maybe corporations should issue blank pay checks om order to become lore competative

adding a fractional; percent to financial instrument sales we can pay the debt and provide education and health care for all.

I could still balance the Budget with a surplus if the DC clowns passed spending cuts and raised taxes, but we both know they won't.

Here is my suggested plan of action:

1. Raise all income tax rates and add a 4% Fed sales tax. (gain $800b)
2. Add a 0.2% financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains $150b/yr, see link below)
3. Add a Remittance Tax on all money sent out of the US (~$6b/yr, see link below, pays for wall & CBP)
4. Remove the cap on SS tax, and raise the ages from 62/67 to 63/68 (saves SS)
5. Raise the tax and co-pay for Medicare, add a co-pay for Medicaid (google "fix Medicare")
6. Remove Capital Gains tax break (39% to 20%) gain is ordinary income. ($100b/yr gained)
7. So if all of the above taxes were implemented, the Budget Deficit would be reduced by ~$1Tb a year. To get a surplus to start paying down the $34T Debt spending would need to be reduced to 2019 levels, $4.4T a year, not $7T a year.

Financial Transactions Tax: What You Need to Know - SmartAsset | SmartAsset

A financial transactions tax is levied on trades made of stocks, bonds, derivatives and other financial products. It is favored by progressives.

smartasset.com

The United States Loses $150 Billion Annually in Remittances

Many Americans know very little, if anything, about “remittances,” (also known as “remittance payments”) and how they affect the U.S. economy. The term “remittance” refers to money earned in the United States that is transferred to relatives, friends or business associates who are still abroad...

www.fairus.org

These are the Budgets I found in wiki:
2023 $6.1T - $4.4T = $1.7T deficit
2022 $6.3T - $4.9T = $1.4T deficit
2021 $6.8T - $4.0T = $2.8T deficit
2020 $6.5T - $3.4T = $3.1T deficit
2019 $4.4T - $3.4Y = $1.0T deficit

We know where 2024's Budget will be. Biden and the Senate whores made a deal...

if you are under any delusions about the possibility of balancing the budget i'd recommend the testimony of fed chairman greenspan when demanding a tax cut in 2001. or the testimony of greenspan and treasury secretary/goldman sachs guy paulson. in 2008 testimony.

paying down the debt means that holders of us bonds and other debt will lose their safe investments. a few well placed campaign contributions should make their case to the majority.

 

[Toddsterpatriot]

Yeah, but the interest on the Debt back then was "only" $100b or so. Now its approaching $1T a year.

That "tax cut" ship sailed. Its time for real math, not DC math.

The only real math that works is huge spending cuts.
Keep those up for 5 or 10 years, and then we'll consider tax hikes. Maybe.