Should the Republican Congress send a balanced budget amendment to the States?

[g5000]

And then .... somehow ... the budget will miraculously be balanced by 2023.

Every budget plan has some built in assumptions. They are not gospel truth. When the CBO churns out the figures for a submitted plan, they are stipulating the assumptions are accurate.

This is what people don't get.

History has empirically shown that budget assumptions rarely turn out as predicted. They are usually WAY, WAY, WAY off.

 

[nodoginnafight]

And then .... somehow ... the budget will miraculously be balanced by 2023.

Every budget plan has some built in assumptions. They are not gospel truth. This is what people don't get.

History has empirically shown that assumptions rarely turn out as predicted. They are usually WAY, WAY, WAY off.

And many are pure fantasy - oops - did this before your last line. Yes, I agree 100%.

 

[g5000]

I have been on the receiving end of Paul Ryan's changes to Tricare. This is what makes me believe his plans for seniors under Medicare is going to royally fuck them.

 

[TooTall]

If you want to pay off debt and balance the budget;


-Base Federal tax for corporations at 30% of revenue.

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

-Eliminate all business subsidies (deductions/write-offs/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees with the Feds refunding city, State, and fees.

-Companies with 400 employees or less, employee expenses above the deduction are subsidized at 100% with funds usually give back to the States.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

-Remove the FICA limit.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years which will eliminate inflation.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

-Make inversion illegal.

sounds too complicated. 1st rule of budgeting - Keep things simple and not cluttered. Another words abolish the IRS. That eliminates 90% of the above.

A-freaken-men to ending federal taxes calculated from lawfully earned incomes and shutting down the IRS as we know it.

Now, which one of our so-called "conservatives" in Congress will introduce the Fair Share Balanced Budget Amendment?


JWK






“Honest money and honest taxation, the Key to America’s future Prosperity“ ___ from “Prosperity Restored by the State Rate Tax Plan”, no longer in print.

I believe I read that my newly elected Senator from Georgia, David Perdue and Senator Jerry Moran (R-KS) introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

Here is the link
http://www.gafairtax.org/news/

 

[g5000]

I believe I read that my newly elected Senator from Georgia, David Perdue introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

I like the Fair Tax. But you know what I am afraid of?

Our income tax system has been corrupted by special interests with carve outs, exemptions, deductions, and credits to the tune of $1.2 trillion a year.

There is nothing to stop the EXACT SAME THING from happening to the Fair Tax.

 

[TooTall]

I believe I read that my newly elected Senator from Georgia, David Perdue introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

I like the Fair Tax. But you know what I am afraid of?

Our income tax system has been corrupted by special interests with carve outs, exemptions, deductions, and credits to the tune of $1.2 trillion a year.

There is nothing to stop the EXACT SAME THING from happening to the Fair Tax.

Don't be afraid. There is something called elections that can stop the EXACT SAME THING from happening.

 

[nodoginnafight]

I believe I read that my newly elected Senator from Georgia, David Perdue introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

I like the Fair Tax. But you know what I am afraid of?

Our income tax system has been corrupted by special interests with carve outs, exemptions, deductions, and credits to the tune of $1.2 trillion a year.

There is nothing to stop the EXACT SAME THING from happening to the Fair Tax.

Don't be afraid. There is something called elections that can stop the EXACT SAME THING from happening.

So how come the elections didn't stop it the first time? What is different now?

 

[TooTall]

I believe I read that my newly elected Senator from Georgia, David Perdue introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

I like the Fair Tax. But you know what I am afraid of?

Our income tax system has been corrupted by special interests with carve outs, exemptions, deductions, and credits to the tune of $1.2 trillion a year.

There is nothing to stop the EXACT SAME THING from happening to the Fair Tax.

Don't be afraid. There is something called elections that can stop the EXACT SAME THING from happening.

So how come the elections didn't stop it the first time? What is different now?

The wrong people have been elected and reelected for many years. Tax and spend Democrats and tax and spend Republicans continue to be returned to office. The only thing that will stop it is if people wake up and elect enough fiscal conservatives to put a stop to it. I am hopeful for the sake of my kids, but not really optimistic.

 

[Judicial review]

I believe I read that my newly elected Senator from Georgia, David Perdue introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

I like the Fair Tax. But you know what I am afraid of?

Our income tax system has been corrupted by special interests with carve outs, exemptions, deductions, and credits to the tune of $1.2 trillion a year.

There is nothing to stop the EXACT SAME THING from happening to the Fair Tax.

Don't be afraid. There is something called elections that can stop the EXACT SAME THING from happening.

So how come the elections didn't stop it the first time? What is different now?

Drugs and generational majority dumbshits.

 

[g5000]

I believe I read that my newly elected Senator from Georgia, David Perdue introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

I like the Fair Tax. But you know what I am afraid of?

Our income tax system has been corrupted by special interests with carve outs, exemptions, deductions, and credits to the tune of $1.2 trillion a year.

There is nothing to stop the EXACT SAME THING from happening to the Fair Tax.

Don't be afraid. There is something called elections that can stop the EXACT SAME THING from happening.

What elections stopped it from happening to the income tax?

You see the problem?

A few thousand dollars in this guy's campaign account, a few thousand dollars in that guy's campaign account, and the special interest have gotten a $1.2 trillion annual return on their investment.

They will do the exact same thing to any federal tax.

 

[TooTall]

I believe I read that my newly elected Senator from Georgia, David Perdue introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

I like the Fair Tax. But you know what I am afraid of?

Our income tax system has been corrupted by special interests with carve outs, exemptions, deductions, and credits to the tune of $1.2 trillion a year.

There is nothing to stop the EXACT SAME THING from happening to the Fair Tax.

Don't be afraid. There is something called elections that can stop the EXACT SAME THING from happening.

What elections stopped it from happening to the income tax?

You see the problem?

A few thousand dollars in this guy's campaign account, a few thousand dollars in that guy's campaign account, and the special interest have gotten a $1.2 trillion annual return on their investment.

They will do the exact same thing to any federal tax.

With a consumption tax, the feds only have ONE tax that they can raise or lower. Under the present tax code they have HUNDREDS of taxes they can raise or lower, and it is a rarity to see any tax lowered.
It would be easy to identify those politicians that vote to raise the Fair Tax, whereas under the present system the raises are hidden in various bills. The ACA is a prime example of dozens of new taxes included in the bill.

 

[g5000]

I believe I read that my newly elected Senator from Georgia, David Perdue introduced a bill with the Fair Tax Amendment. That is a consumption tax that takes the place of all other taxes.

I like the Fair Tax. But you know what I am afraid of?

Our income tax system has been corrupted by special interests with carve outs, exemptions, deductions, and credits to the tune of $1.2 trillion a year.

There is nothing to stop the EXACT SAME THING from happening to the Fair Tax.

Don't be afraid. There is something called elections that can stop the EXACT SAME THING from happening.

What elections stopped it from happening to the income tax?

You see the problem?

A few thousand dollars in this guy's campaign account, a few thousand dollars in that guy's campaign account, and the special interest have gotten a $1.2 trillion annual return on their investment.

They will do the exact same thing to any federal tax.

With a consumption tax, the feds only have ONE tax that they can raise or lower. Under the present tax code they have HUNDREDS of taxes they can raise or lower, and it is a rarity to see any tax lowered.
It would be easy to identify those politicians that vote to raise the Fair Tax, whereas under the present system the raises are hidden in various bills. The ACA is a prime example of dozens of new taxes included in the bill.

Do you think the employer sponsored health insurance income tax exemption is hidden?

Nope.

With a consumption tax, you can also exempt goods from that tax. And that is how the system would be compromised.

A few thousand dollars in this guy's campaign account, a few thousand dollars in that guy's campaign account...

Meet the new boss. Same as the old boss.

 

[OnePercenter]

The government cannot require companies to raise their private retirement pensions without bankrupting most of those companies and/or pension funds.

Private retirement pensions fall under federal rules, so the government CAN require. But remember, ALL employee costs are deductible dollar-for-dollar on federal tax owed.

Raising Social Security would require a helluva lot more than removing the FICA limit. Social Security benefits are based on how much is paid in. If you require raising the limit paid in, you have to raise the amount paid out at retirement age. A temporary net gain at best.

No need to raise the limit since every employee is making much more, wouldn't contributions be more?

The rest of your suggestions are equally as flawed.

Please elaborate.

 

[EdwardBaiamonte]

it's normal and perfectly appropriate for national budgets to move from surplus to deficit and back to surplus again, depending upon events and economic conditions.

notice how the Nazi liberal is not afraid to lie. Surpluses??? Then how did we get $20 trillion in debt????

 

[OnePercenter]

sounds too complicated. 1st rule of budgeting - Keep things simple and not cluttered. Another words abolish the IRS. That eliminates 90% of the above.

If my VERY SIMPLE PLAN sounds to confusing, then your Libertarianism has made you stupid.


Libertarianism Makes You Stupid

 

[OnePercenter]

Yes.

The National Conference of State Legislatures (NCSL) has traditionally reported that 49 states must balance their budgets, with Vermont being the exception. Other authorities add Wyoming and North Dakota as exceptions, and some authorities in Alaska contend that it does not have an explicit requirement for a balanced budget. Two points can be made with certainty, however: Most states have formal balanced budget requirements with some degree of stringency, and state political cultures reinforce the requirements.

How do you balance a budget when your income is based on 'expected' income?

 

[EdwardBaiamonte]

How do you balance a budget when your income is based on 'expected' income?

over a 2 years period, for example, based on non partisan projections

 

[OnePercenter]

I attack programs that are wasteful spending without regard to any partisan agenda. When the only budget that gets passed by Congress is a continuing resolution with increases in spending, the various agencies continue spending on really stupid crap to satisfy their constituents. This has gone on for decades and needs to be stopped.

How do you determine if a program is wasteful?

 

[EdwardBaiamonte]

Libertarianism Makes You Stupid

so our Founders were stupid?? How??

 

[OnePercenter]

We have enough trouble with the mess Obama left to try to amend the Constitution.

Which is the least of your problems. Look at what Republicans/corporate America/wall street have done financially to the majority of Americans.