Manchin: DC needs to cut spending to balance the budget like the states do every year, Manchin 2 seconds later: don't cut Medicare or Social Security!

[basquebromance]

Manchin says 60 percent of West Virginians are on Medicare and Social Security, and "it scares the beejesus out of them" when there are talks of cuts, and that we should take that off the table.

 

[Moonglow]

Eliminate 900 billion in tax write-offs for the wealthy and businesses.

 

[80zephyr]

Eliminate 900 billion in tax write-offs for the wealthy and businesses.

Do you know how write-offs work?

 

[White 6]

Manchin says 60 percent of West Virginians are on Medicare and Social Security, and "it scares the beejesus out of them" when there are talks of cuts, and that we should take that off the table.

Manchin is correct that spending should be cut, but that Social Security should not be cut.

 

[Moonglow]

Do you know how write-offs work?

What are Tax Write Offs in a Nutshell? In a nutshell, a tax-write off is a legitimate expense that lowers your taxable income on your tax return. A tax write-off is commonly referred to as a tax deduction. Ultimately, the IRS determines what expenses can be considered a legitimate write-off.Nov 15, 2022

What is a Tax Write-Off? (Tax Deductions Explained)​

 

[Moonglow]

Manchin is correct that spending should be cut, but that Social Security should not be cut.

They should cut Congressional retirement pay.

 

[80zephyr]

What are Tax Write Offs in a Nutshell? In a nutshell, a tax-write off is a legitimate expense that lowers your taxable income on your tax return. A tax write-off is commonly referred to as a tax deduction. Ultimately, the IRS determines what expenses can be considered a legitimate write-off.Nov 15, 2022

What is a Tax Write-Off? (Tax Deductions Explained)​

Very good. Now, if it costs you 300 grand to start a business, and you make 300 grand your first year, how much tax should you pay?

 

[Moonglow]

Very good. Now, if it costs you 300 grand to start a business, and you make 300 grand your first year, how much tax should you pay?

What ever the tax rate is.

 

[80zephyr]

What ever the tax rate is.

So you are saying that you should not be able to deduct your expenses?

 

[pknopp]

Manchin is correct here. But I will note, we can make some cuts to S.S. without affecting a single benefit. Address the fraud, corruption and duplicity.

 

[kyzr]

The idea being discussed is automatic budget cuts. Like the "penny solution", now the "nickel solution", a 5% cut.. Over time the deficit comes down.

I still think they need to add a Fed Sales Tax of 3% or 4% to balance the budget. They can't cut spending enough with Mandatory Spending being so much of the Budget.

 

[kyzr]

Manchin is correct here. But I will note, we can make some cuts to S.S. without affecting a single benefit. Address the fraud, corruption and duplicity.

I still say we need another "Grace Commission" to root out the "Waste, Fraud, and Abuse"

 

[pknopp]

I still say we need another "Grace Commission" to root out the "Waste, Fraud, and Abuse"

It doesn't take a commission. You just tell the departments heads that they have to cut X percent but they can not touch benefits or they lose their job. They will find it.

 

[Admiral Rockwell Tory]

They should cut Congressional retirement pay.

That is a small amount that means nothing.

 

[Admiral Rockwell Tory]

Manchin is correct here. But I will note, we can make some cuts to S.S. without affecting a single benefit. Address the fraud, corruption and duplicity.

Fraud in SS, corruption, and duplicity? Do you have any examples?

 

[pknopp]

Fraud in SS, corruption, and duplicity? Do you have any examples?

Social Security Fraud: What Is It Costing Taxpayers?

Surely you could have easily found this yourself.

 

[basquebromance]

 

[basquebromance]

 

[basquebromance]

 

[pknopp]

Manchin and his family are long time mine owners. Yes, they have money.