Let's Put to Bed the 'America Is Bankrupt' Myth

[Truthmatters]

The best way to deal with it is to raise tax dollars.

It has worked great in the past.

Why the lies about what it will do when the facts are right there in history?

Cut all spending by 110% it's worked great in the past. Right there in history.

Go get your example

 

[code1211]

There are people who want this country leveled with the third world so they can get more cheap labor.


The right defends these very people day in and day out.

The right defends the Big 0?

 

[code1211]

All we need to do is go back to the tax levels that gave us the great times during the mid century

Wow!

 

[Wiseacre]

The best way to deal with it is to raise tax dollars.

It has worked great in the past.

Why the lies about what it will do when the facts are right there in history?

Prove it...

Me, we, and us.. Have, can and will if needed again prove that cutting is the only way to "fix" the debt.

So, now it's your turn to make a laughing stock of yourself TM.

I already did by providing the historical tax rates of the mid century.

The top tax rate was 90% and business still flourished and yet we had a great economy and the best schools and were considered the world standard in societal progress.

That was then dude, there was nowhere else in the world to go.

 

[code1211]

So you agree we should go back to 90% tax rate on the 1% ?


Our corps did fine and America was on top in education and many other areas.

The Libs put an end to education producing top results. In fact they've done a fine job on everything they've destroyed.

When the top rate was 90%, what was the EFFECTIVE rate for the very wealthy?

 

[code1211]

Then lets go back to the tax rates that gave us an awsome lifestyle

You can't be this stupid.

 

[MaggieMae]

Cut all spending by 110% it's worked great in the past. Right there in history.

Spending was cut and taxes were raised in Clinton's second term. After the dust settled, everyone was happy. And it will happen again. Hopefully this time, the bitter battles waged will not be forgotten and we won't get ourselves in this horrible position ever again because of don't-tax-but-spend-anyway complacency.

I know spending was cut in Clinton's 2nd term, but taxes were raised? I thought taxes were cut around 1997 or so, by the GOP Congress. I trust you've heard about all the TP fuss, you're not going to find too many big spending Republicans these days. Still a few, but a vanishing breed.

Taxes were lowered by Reagan, raised again by Clinton, lowered again by Bush.

National Taxpayers Union - History of Federal Individual Income Bottom and Top Bracket Rates

Tea Party members also don't want entitlement programs cut. But if they think nickel and diming programs like Planned Parenthood are going to even cause a blip in either the budget or the deficit, they are woefully uninformed.

Poll: 70% Of Tea Partiers Oppose Cuts To Medicare, Medicaid | TPMDC

 

[code1211]

...Everything's fine. Ignore the fact that our credit rating is on shaky grounds. There is no problem...

That's crazy and I'd thought of asking where it came from, but my guess is you just made it up to have something easy to refute.

In the mean time, let's look at the word "bankrupt." Usually the word means "adjudged insolvent by a court with property being transferred to a trustee and administered for the benefit of creditors " OK, everyone likes to bellyache about the state of the Union, but is anyone seriously saying this is what's happening?

Just for the sake of clarity, when the bailout of GM occurred and the bond holders were stripped of their investments, the stockholders got screwed, the UAW got a windfall and the taxpayers took a 14 billion dollar bath, was GM bankrupt or was that just everyone bellyaching?

 

[Rozman]

Yeh Let's go back to the good ol days of a 90% tax rate that way those evil rich bastards can be brought to their knees.They need to be taught a lesson.This way no one has any money.Man I love this dopey crap on this site.

 

[skookerasbil]

I guess Im the asshole here but just wondering..................

Why is it that only.............and I stress ONLY...........those on the far left of the political spectrum think the debt is just a myth? More to the point..........since that is fact, does it really matter??!!! That map I keep posting up reflecting the last election looked real, real red to me........in fact, ony a small amount of blue was noticable.

Remember..........this is a political forum. Theory in here is BS when it comes right down to it............so really, if only those on the far left are yawning about the debt, does it really matter in the bigger picture of things???

 

[Rozman]

With all the payroll taxes,State and local,Fica and sales tax for me anyway I must be around 60 % now and to these Lib @#$$#% it's not enough because those that refuse to even look for a job like those beloved 99% don't have money to buy liquor and cigarettes and lotto games.

 

[Avatar4321]

...Everything's fine. Ignore the fact that our credit rating is on shaky grounds. There is no problem...

That's crazy and I'd thought of asking where it came from, but my guess is you just made it up to have something easy to refute.

In the mean time, let's look at the word "bankrupt." Usually the word means "adjudged insolvent by a court with property being transferred to a trustee and administered for the benefit of creditors " OK, everyone likes to bellyache about the state of the Union, but is anyone seriously saying this is what's happening?

Silly me, I presumed that you were actually keeping up with the news and knew what you were talking about. Clearly I presumed too much.

S&P lowers U.S. debt rating to "negative" - CBS News

So despite this and despite the fact that we have a 14 Trillion dollar debt, and are currently increasing it at least 1 trillion a year, we don't have any problems with debt?

Sorry, the numbers just don't add up for your argument.

 

[Avatar4321]

Then lets go back to the tax rates that gave us an awsome lifestyle

You can't be this stupid.

I've found that when you say that about someone, they go and prove you wrong.

 

[Avorysuds]

The best way to deal with it is to raise tax dollars.

It has worked great in the past.

Why the lies about what it will do when the facts are right there in history?

Prove it...

Me, we, and us.. Have, can and will if needed again prove that cutting is the only way to "fix" the debt.

So, now it's your turn to make a laughing stock of yourself TM.

I already did by providing the historical tax rates of the mid century.

The top tax rate was 90% and business still flourished and yet we had a great economy and the best schools and were considered the world standard in societal progress.

Congratu-fucking-lations, you lose TM. Get the fuk out while you still can you political infant. Show me, show anyone where someone paid out 90+ fucking % of their income you worthless waste of space Troll of the internet.


Past the fact that no one paid 90% taxes you seem to believe taxes like that and not the conditions of the time are what made them prosperous, ridiculous. A long while back I asked my 89 year old Grandpa how anyone could pay 90-98% taxes and he LOLed! All he said was “Deductions,” then said “Reagan simplified the tax code” meaning people paid taxes AROUND what Reagan brought them down to after many deductions.


How do you think Warren Buffet pays less in taxes than his secretary? Who gives a shit if WB says “Rich people need higher taxes” when he already found a way to escape the taxes in their current %, he will just use more loop holes.

Stop vomiting out your propaganda laced stupidity.

PROVE someone paid 90% + taxes TM or STFU forever… Do I really need to show you what Warren Buffets tax rate is, then show how much he paid before you understand the simple fucking idea of DEDUCTIONS and loopholes? I don’t think that 38ish % of Warren Buffets income collects less than his secretary TM, do you?

Your fathers sperm must have had an excessive amount of stupid clinging onto it when you were conceived TM.

 

[sinister59]

To read economic and political commentary with any kind of frequency is to be bombarded daily - and hourly for that matter - with breathy articles about a United States groaning under deficits that surely signal bankruptcy, Social Security checks that eventually won't clear, and of course a looming financial crisis. A recent New York Times column by noted deficit scold David Stockman naturally referenced America's "desperate" financial situation.

Much of this commentary is well written, it's certainly popular, but it's also total nonsense.

More at RealClearMarkets - Let's Put to Bed the 'America Is Bankrupt' Myth

Sorry, couldn't resist starting up a flamewar.

Maybe after this I can start threads on how average US real incomes are up, inflation doesn't exist, but hey let's stick to one hornets nest at a time...

yes we can say the elderly don't need medicare its only because the selfish bastard are greedy . oh and how bad we all feel about retirements being lost but its not wall streets fault nor the big banks . lets say its poor savings , ya thats it , the people just didn't handle their money its their fault . cool
but thinking like a repig makes me ill like I listened to a mormon proselytizer .

 

[Avorysuds]

To read economic and political commentary with any kind of frequency is to be bombarded daily - and hourly for that matter - with breathy articles about a United States groaning under deficits that surely signal bankruptcy, Social Security checks that eventually won't clear, and of course a looming financial crisis. A recent New York Times column by noted deficit scold David Stockman naturally referenced America's "desperate" financial situation.

Much of this commentary is well written, it's certainly popular, but it's also total nonsense.

More at RealClearMarkets - Let's Put to Bed the 'America Is Bankrupt' Myth

Sorry, couldn't resist starting up a flamewar.

Maybe after this I can start threads on how average US real incomes are up, inflation doesn't exist, but hey let's stick to one hornets nest at a time...

yes we can say the elderly don't need medicare its only because the selfish bastard are greedy . oh and how bad we all feel about retirements being lost but its not wall streets fault nor the big banks . lets say its poor savings , ya thats it , the people just didn't handle their money its their fault . cool
but thinking like a repig makes me ill like I listened to a mormon proselytizer .

The idea is to pay out top people that have paid in their whole lives but make it an option for younger people to opt out of Medicare... Not that hard to understand but so easy to misrepresent.

These programs have a projected failure, however is it fair to have taken money for millions of people for 30-50 years of their life only to cut the program off when they need it, no. But having the option to opt out for people let’s say 40 and under seems like a good idea being there will be nothing for them when they retire.

 

[Annie]

Then lets go back to the tax rates that gave us an awsome lifestyle

You can't be this stupid.

She is that stupid.

 

[expat_panama]

...Everything's fine. Ignore the fact that our credit rating is on shaky grounds. There is no problem...

That's crazy and I'd thought of asking where it came from, but my guess is you just made it up to have something easy to refute.

In the mean time, let's look at the word "bankrupt." Usually the word means "adjudged insolvent by a court with property being transferred to a trustee and administered for the benefit of creditors " OK, everyone likes to bellyache about the state of the Union, but is anyone seriously saying this is what's happening?

The country isn't because we ARE paying on the debt. Which leads to the biggie coming up: Raising the debt limit, or not. If it isn't raised at least for a limited time so we can continue paying on existing debt...

Actually, existing debt can be paid without raising the debt limit and in any number of ways. We can cut spending, raise taxes, issue money, sell stuff, etc. The reason I personally like refusing a limit increase is because we'll be doing all the above anyway but keeping the limit makes it happen sooner.

 

[expat_panama]

...when the bailout of GM occurred and the bond holders were stripped of their investments, the stockholders got screwed, the UAW got a windfall and the taxpayers took a 14 billion dollar bath, was GM bankrupt or was that just everyone bellyaching?

Personally I'd call it 'bankruptcy' but under US corporate law that kind of insolvency is handled under Chapter 11 so IIRC GM was temporarily under the protection of Chapter 11 while Fearless Leader O sorted it all out.

Then again, if you talked to three different lawyers you'd probably get 4 different stories on that...

 

[expat_panama]

Huh, and CBS News said "everything's fine"?