House Republicans Plan to lower debt

[HaShev]

House Republicans released their plan for a responsible debt ceiling solution called the Limit, Save, Grow Act of 2023
Let's see if Biden ignores or promises to veto, or worse once again lie & claim Republicans have no plan.
the plan:
End the era of reckless Washington spending
Reclaim unspent COVID funds
Defund Biden’s IRS army
Repeal “Green New Deal” tax credits
Prohibit Biden’s student loan giveaway to the wealthy
Strengthen the workforce
Reduce childhood poverty
Prevent executive overreach and restore Article 1
Lower energy costs and utilities

 

[Vrenn]

House Republicans released their plan for a responsible debt ceiling solution called the Limit, Save, Grow Act of 2023
Let's see if Biden ignores or promises to veto, or worse once again lie & claim Republicans have no plan.
the plan:
End the era of reckless Washington spending

Okay, I will vote for that

Reclaim unspent COVID funds

Not a problem with that either.

Defund Biden’s IRS army

You were doing so well until now. The bulk of the IRS Army is to go after the ultra rich and that scares the living hell our of you MAGAts. I might buy cutting them down by half but not defunding it completely.

Repeal “Green New Deal” tax credits

Texas Fuel Company (also knows as Texaco and now Chevron) received a lot of help during it's time from the Federal and State Govoernments. At one point, Gas Powered Cars were getting their asses kicked by Steam, Diesel and Electrics.
When they wanted to link up two cities, it took modern roads (dirt roads) and the Gasoline Powered Cars required those to be constructed.

Prohibit Biden’s student loan giveaway to the wealthy

You haven't read it, I presume. The wealthy can't use it because they have too high an income.

Strengthen the workforce

Sure, but go into run down areas that used to be power houses, work with the companies and rebuilt the proper city.

Reduce childhood poverty

How? by reducing food stamps and other support for the poorest people with children?

Prevent executive overreach and restore Article 1

I agree but for everyone in power. It's sad that the ones doing the congressional oversight are some of the worst ones.
The fact remains, you can't have the Fox guarding the Henhouse.

Lower energy costs and utilities

 

[shimon]

House Republicans released their plan for a responsible debt ceiling solution called the Limit, Save, Grow Act of 2023
Let's see if Biden ignores or promises to veto, or worse once again lie & claim Republicans have no plan.
the plan:
End the era of reckless Washington spending
Reclaim unspent COVID funds
Defund Biden’s IRS army
Repeal “Green New Deal” tax credits
Prohibit Biden’s student loan giveaway to the wealthy
Strengthen the workforce
Reduce childhood poverty
Prevent executive overreach and restore Article 1
Lower energy costs and utilities

It is ironic thatI believe it was Lenin that was asked how to destroy a capitalistic country and his response was rather interesting … He said if I am not mistaken that by debasing the currency through inflation and over spending that the system would fail and usher in communism… Not saying he was right but it is interesting to note that most western governments esp ones like the United States has been following these policies for countless years to thedetriments of their citizens .. One must wonder if it has all been doneon purpose knowing what Lenin had said regarding this matteror the policy makers and decision makers really don’t care as long as they stay in power. If the republicans are serious about stopping or reversing deficit spending and these inflationary tactics( hidden taxation) then this is definitely a step in the right direction in my opinion…

 

[HaShev]

It is ironic thatI believe it was Lenin that was asked how to destroy a capitalistic country and his response was rather interesting … He said if I am not mistaken that by debasing the currency through inflation and over spending that the system would fail and usher in communism… Not saying he was right but it is interesting to note that most western governments esp ones like the United States has been following these policies for countless years to thedetriments of their citizens .. One must wonder if it has all been doneon purpose knowing what Lenin had said regarding this matteror the policy makers and decision makers really don’t care as long as they stay in power. If the republicans are serious about stopping or reversing deficit spending and these inflationary tactics( hidden taxation) then this is definitely a step in the right direction in my opinion…

Renamed in The U.S. as Progressive Liberalism, the Communist Party had a 50 yr plan, which explains the rush, because it's past that estimation mark of 2008.

 

[Hector12]

The national debt only became a problem when Republicans began to cut taxes for the rich.

 

[HaShev]

The national debt only became a problem when Republicans began to cut taxes for the rich.

That's a narrative that is not true(political rhetoric), and all those cuts helped spur the economy that helped reign in more revenues for the Gov't.
Example: to compete with foreign corps, they lowered corp tax to be more in line with other countries in order to enhance those corps ability to sell over seas with more competitive prices.
This tax savings was shared with the employees, which spured higher take home pay=higher tax revenues, more workers(he had very low unemployment)=higher tax revenues
People with more money spent more=higher state and federal tax revenues. It's called trickle down, the key to sucess is having a thriving economy, the more money changing hands the more the gov' t makes off the same dollar going around and around.
Economics 101.

 

[Dont Taz Me Bro]

You haven't read it, I presume. The wealthy can't use it because they have too high an income.

That depends on who is being defined as wealthy. The fact of the matter is people with college degrees make up about a 1/3 of the population and they overall make more money than the 2/3 who don't. You are asking the lower income 2/3 of the country to pay the debt of the 1/3 who make more than them. It's a transfer of wealth from lower income people to higher income people.

 

[multivita-man]

I admit I haven't read it all but from what I've read in reports, it's not only a dumb plan but I don't think some MAGAs are going to be particularly pleased with it either.

VA warns 81K health care employees’ jobs at risk under House GOP debt ceiling plan | Federal News Network

Federal agencies are warning that a deal by House Republicans to raise the debt ceiling in exchange for significant budget cuts would eliminate the jobs of tens of thousands of federal employees.

federalnewsnetwork.com

Federal agencies are warning that a deal by House Republicans to raise the debt ceiling in exchange for significant budget cuts would eliminate the jobs of tens of thousands of federal employees.

The Department of Veterans Affairs announced Friday that a plan led by House Speaker Kevin McCarthy (R-Calif.) to cut nondefense federal spending would result in the loss of 81,000 jobs across the Veterans Health Administration.

The VA estimates such a major reduction of its health care workforce would mean 30 million fewer patient visits per year, and would limit veterans’ access to cancer screenings, mental health services and substance addiction treatment.

VA care is going to go to shit if they do this. I know Joe most likely won't, but he'll get blamed if there's a default.

I think the bottom line is that the GOP just wants to create a crisis and hope that they can stick Biden with it. TBH, there's a 50/50 chance it works - it'll at least kill Biden's re-election hopes. Newsom would probably jump into the race, though he would be a bit late.

 

[Hector12]

That's a narrative that is not true(political rhetoric), and all those cuts helped spur the economy that helped reign in more revenues for the Gov't.
Example: to compete with foreign corps, they lowered corp tax to be more in line with other countries in order to enhance those corps ability to sell over seas with more competitive prices.
This tax savings was shared with the employees, which spured higher take home pay=higher tax revenues, more workers(he had very low unemployment)=higher tax revenues
People with more money spent more=higher state and federal tax revenues. It's called trickle down, the key to sucess is having a thriving economy, the more money changing hands the more the gov' t makes off the same dollar going around and around.
Economics 101.

What happened to the Republican concern for balanced budgets? During President Carter's last full year in office the top tax rate was 70%. The National debt was $908 billion. This was 32% of the gross domestic product (GDP).

President Reagan reduced the top tax rate to 28%. During his last full year in office the national debt had grown to $2,602. This represented 50% of GDP.

http://www.irs.gov/pub/irs-soi/02inpetr.pdf

US National Debt by Year

The U.S. national debt was over $31 trillion in 2022. In 1930, it was just $16 billion. The biggest impacts have been defense spending, recessions, and recently, the pandemic.

www.thebalancemoney.com

The following chart demonstrates that most American did not benefit from Republican tax cuts for the rich.

FOX NEWS POLL

Published March 30, 2023 6:00pm EDT

Fox News Poll: 71% choose funding Social Security, Medicare over budget cuts​

Fox News Poll: 71% choose funding Social Security, Medicare over budget cuts

For years there has been popular support for a return to more progressive taxation.

polll + taxes + rich - Google Search

 

[HaShev]

That depends on who is being defined as wealthy. The fact of the matter is people with college degrees make up about a 1/3 of the population and they overall make more money than the 2/3 who don't. You are asking the lower income 2/3 of the country to pay the debt of the 1/3 who make more than them. It's a transfer of wealth from lower income people to higher income people.

That's a good point, and this includes people with health and learning disabilities paying for people who are healthy enough to get into schools.
That's not a good look for the Token Down Syndrom commercial actor having to get more paying gigs just to afford taxes compliments of handout Henrys who get freebies in exchange for votes (a Qid Pro Joe specialty)

 

[Orangecat]

Renamed in The U.S. as Progressive Liberalism, the Communist Party had a 50 yr plan

 

[HaShev]

What happened to the Republican concern for balanced budgets? During President Carter's last full year in office the top tax rate was 70%. The National debt was $908 billion. This was 32% of the gross domestic product (GDP).

President Reagan reduced the top tax rate to 28%. During his last full year in office the national debt had grown to $2,602. This represented 50% of GDP.

http://www.irs.gov/pub/irs-soi/02inpetr.pdf

US National Debt by Year

The U.S. national debt was over $31 trillion in 2022. In 1930, it was just $16 billion. The biggest impacts have been defense spending, recessions, and recently, the pandemic.

www.thebalancemoney.com

The following chart demonstrates that most American did not benefit from Republican tax cuts for the rich.

View attachment 779262

FOX NEWS POLL

Published March 30, 2023 6:00pm EDT

Fox News Poll: 71% choose funding Social Security, Medicare over budget cuts​

Fox News Poll: 71% choose funding Social Security, Medicare over budget cuts

For years there has been popular support for a return to more progressive taxation.

polll + taxes + rich - Google Search

A lot of money overspent often has nothing to do with politics when there is a lot of natural disasters and emergencies at any given term of office. It's up to whoever who does the budget however, to make sure unexpected emergency funds are counted in and accumulate till needed just as you as an individual do with budgeting for unexpected break down of equipment like cars, computers, appliances, A/C, water heater etc.
If you don't account future unexpected needs then like any homeowner or condo association knows, your budgeting will be for Nothing.

 

[Vrenn]

That depends on who is being defined as wealthy. The fact of the matter is people with college degrees make up about a 1/3 of the population and they overall make more money than the 2/3 who don't. You are asking the lower income 2/3 of the country to pay the debt of the 1/3 who make more than them. It's a transfer of wealth from lower income people to higher income people.

I am not asking. I am demanding that the rich 1%ers pay for the services that they used to pay for.

 

[HaShev]

View attachment 779271

View attachment 779271

Thanks, I thought Henry Wallace ran in 58 I guess I mixed it up or my source did when I first noticed it years back.
That's who I'm refering to pushing communism as a new more palatable term, and his platform mirrors today's progressive agenda of nationalized medicine etc. It's like Hillary and the Dems stole his play book.

 

[Vrenn]

Thanks, I thought Henry Wallace ran in 58 I guess I mixed it up or my source did when I first noticed it years back.
That's who I'm refering to pushing communism as a new more palatable term, and his platform mirrors today's progressive agenda of nationalized medicine etc. It's like Hillary and the Dems stole his play book.

That's one deep rabbit hole you have there, cupcake.

 

[Dont Taz Me Bro]

I am not asking. I am demanding that the rich 1%ers pay for the services that they used to pay for.

Seems they are and then some

In short, the federal income-tax structure still places the unambiguous bulk of its burden on the highest earners. The Trump tax cut hasn’t changed that. In 2018, the top 1% of U.S. earners paid roughly 37% of all federal income taxes. The top 5% paid around 58%. This suggests that policy makers wishing to mitigate regressive features of the tax system should look elsewhere. State and local sales and property taxes may be a more promising area for reform….

The 1% Pay 37% of Federal Income Taxes

The IRS has released new tax data that demonstrate how much we’ve been fooled by claims that the rich aren’t paying their fair share. Those claims are based on statistical errors and incomplete data. Now that we have the complete data, we gain more perspective. We’ve written a piece in the Wall...

www.aier.org

 

[HaShev]

That's one deep rabbit hole you have there, cupcake.

It was a 50 year plan that included all the things that actually crept up on us and happened. In fact if I would have been aware back in my School years I would have noticed it, because My parents had to threaten to take my brother's car and allowances away to teach him what his teachers taught about his evil parents having stuff aka socialist ideas was making him a hypocrite, and today I see my former spoiled rotten nephew brainwashed the same way in college.
I also had a radical liberal teacher in college who showed red flags, who annoyingly asked for my opinion on The Rodin museum and did not like or allow that HONEST OPINION answer that took it deeper in thought about the feminine image Rodin was projecting of Washington our stoic leader first man.
If you don't want to hear an opinion, then don't ask, we live in a free country, not a communist country.. Oops should have connected the dots back then and seen the scholarly move towards progressive ideas and egotistical tyrantical behaviors attached to them.

 

[Jessica-stormlover]

On the backs of the poor, disabled and the American people in need. This is sick. I'd support ending support for Ukraine and nearly anything to do with dealing with other countries before this shit. The GOP hates Americans.

 

[Jessica-stormlover]

The problem with the argument that the rich pay the most taxes and we should all pay equal % is 1. They should pay the most as they're using our infastructure to transport their goods, law enforcement to protect their operations and 2. Can damn well afford it. They enjoy our market and make billions so they damn well should pay more. 3. They can and the poor can't. The poor will be on the street and starving. It is about morals and ethics. Sick of hearing rich butt kissing.

 

[Hector12]

Seems they are and then some

In short, the federal income-tax structure still places the unambiguous bulk of its burden on the highest earners. The Trump tax cut hasn’t changed that. In 2018, the top 1% of U.S. earners paid roughly 37% of all federal income taxes. The top 5% paid around 58%. This suggests that policy makers wishing to mitigate regressive features of the tax system should look elsewhere. State and local sales and property taxes may be a more promising area for reform….

The 1% Pay 37% of Federal Income Taxes

The IRS has released new tax data that demonstrate how much we’ve been fooled by claims that the rich aren’t paying their fair share. Those claims are based on statistical errors and incomplete data. Now that we have the complete data, we gain more perspective. We’ve written a piece in the Wall...

www.aier.org