The National Debt Near The End of Q3

[HikerGuy83]

take another suck pill

You seem to be swimming in them, can I borrow a few ?

Now run along trollboi.

 

[HikerGuy83]

In 2023 we spent 700 BILLION dollars on interest alone.

That is 2100 per person in the U.S.

 

[Staidhup]

According to a very good website, there three main drivers for our debt.

1 Aging population -- Social Security
2. Rising Health Care Costs
3. Inadequate Taxes

Simply put spending more than you receive on BS projects to satisfy your constituents. You can’t tax your way toward prosperity, Social Security was a guarantee made between FDR’s administration and the workers of America that was never designed to actually pay the payees based on flawed actuarial tables at the time, furthermore, Obama, Pelosi, and members of Congress claimed that if you passed his health care reform bill it would reduce and control healthcare costs. Just another case of nothing more than BS.
Research what Social Security would actually cost if the earned income cap had been removed years ago? Then ask yourself who tabled the discussion and see who their financial supporters are.

 

[g5000]

and you have been shown many times why that wont work,,

Of course it will work. You just don't want to lose your government gifts.

 

[initforme]

Now is not the time to address a debt.

 

[progressive hunter]

Of course it will work. You just don't want to lose your government gifts.

nope,, it will never work and we have shown you why many times,,

 

[g5000]

nope,, it will never work and we have shown you why many times,,

No, you have not.

There was a time, in the beginning, when we did not have tax expenditures. So, ipso facto, it works.

Not only that, Ronald Reagan proved it works when he eliminated huge chunks of tax expenditures. As a result, he was able to lower tax rates.

You fevered imagination proved nothing. You are full of shit. Out here in the real world, it works.

 

[g5000]

With the Tax Reform Act of 1986, Reagan and Congress sought to simplify the tax system by eliminating many deductions, reducing the highest marginal rates, and reducing the number of tax brackets.

Reaganomics - Wikipedia

en.wikipedia.org

Since then, unfortunately, special interests have bribed our politicians to put those deductions back in the tax code, and then some.

$1.6 trillion a year. That's how much they are costing us.

Only a complete moron would think our tax code would not work without deductions, credits, and exemption.

It's just plain common sense.

Tax expenditures are theft. For every dollar one person deducts, that dollar has to be offset by someone else paying more. or the government has to borrow that dollar.

And the way we get someone else to pay more to offset all those government gifts is to RAISE TAX RATES.

Duh.

Tax expenditures are also government social engineering and interference in the free market. They are socialist, which is why actual conservatives are against them.

 

[initforme]

Perhaps it's time to get rid of the child tax credit.

 

[g5000]

progressive hunter tagged my lost post with Fake News, and in his mind that means he proved me wrong.

But the fact is he cannot prove me wrong.

 

[progressive hunter]

progressive hunter tagged my lost post with Fake News, and in his mind that means he proved me wrong.

But the fact is he cannot prove me wrong.

I never thought it proved you wrong,,

you being wrong proves you wrong,,

and I have proved that to you several times and now your only response is personal attacks,,

which tells me you know youre wrong,,

carry on,,

 

[g5000]

Perhaps it's time to get rid of the child tax credit.

We need to get rid of all tax credits, with the exception of the EITC which is the only credit proven to increase productivity.

The child tax credit is a perfect example of government social engineering.

You are punished with higher taxes if you don't breed.

You are punished with higher taxes if you don't have a mortgage.

You are punished with higher taxes if you don't buy the right refrigerator.

You are punished with higher taxes if you don't buy solar panels.

Socialism. Plain and simple.

All of those credits are offset with higher tax rates and borrowing from China.

 

[g5000]

I never thought it proved you wrong,,

you being wrong proves you wrong,,

and I have proved that to you several times and now your only response is personal attacks,,

which tells me you know youre wrong,,

carry on,,

I'm sorry, but "You're wrong" is not proof. It's called ipse dixit.

You have proved nothing.

Because you can't.

 

[g5000]

It's amusing the Right whined that being punished for not buying the right health insurance was socialism, but can't see EVERY tax expenditure is socialism.

 

[g5000]

The simple fact is, everyone is a welfare queen.

They whine about food stamps, but the second you threaten their deductions, credits, and exemptions, they scream just as loud as any welfare queen.

"It's MY money!", they have been trained to whine.

It isn't. It's coming from another taxpayer's pocket who has to offset their government gifts with higher tax rates.

It is theft, pure and simple.

 

[progressive hunter]

I'm sorry, but "You're wrong" is not proof. It's called ipse dixit.

You have proved nothing.

Because you can't.

I never said it is what proves you wrong,,

we have had this conversation several time and each time you revert to personal attacks after I prove you wrong,,

the first major mistake youre making is thinking its about revenue,,

its 100% about spending,,

the people are not a money spigot for politicians pet projects and tribal politics,,

when taxs become over burdensome for the people its time the government back off not dbl down,,

 

[g5000]

I never said it is what proves you wrong,,

we have had this conversation several time and each time you revert to personal attacks after I prove you wrong,,

the first major mistake youre making is thinking its about revenue,,

its 100% about spending,,

the people are not a money spigot for politicians pet projects and tribal politics,,

when taxs become over burdensome for the people its time the government back off not dbl down,,

Again, you have never proven me wrong.

Here's the conservative pro-Trump Heritage Foundation saying the same thing I keep saying:

Reduce Spending Through the Tax Code

Boom. It's right there in the title.

Each year, the tax code is used to hand out billions of dollars in subsidies to politically connected interests, picking winners and losers and distorting free markets. This spending persists without systematic review or annual appropriation. These programs operate like mandatory spending, outlays for which Congress has passed laws making permanent appropriations that it rarely reviews.

Most tax credits—the most popular way to spend through the tax code—are economically indistinguishable from direct spending.


And here they describe the very same thing I have:

A lawmaker may want to subsidize electric vehicles because a new factory is opening in his district. Congress could propose a new program to send a $7,500 check to qualifying purchasers of new electric cars. To meet the same goal, the same lawmaker could instead propose to cut taxes for those who purchase a new qualifying electric car by creating a $7,500 tax credit.

Boom.

 

[progressive hunter]

Again, you have never proven me wrong.

Here's the conservative pro-Trump Heritage Foundation saying the same thing I keep saying:

Reduce Spending Through the Tax Code

Boom. It's right there in the title.

Each year, the tax code is used to hand out billions of dollars in subsidies to politically connected interests, picking winners and losers and distorting free markets. This spending persists without systematic review or annual appropriation. These programs operate like mandatory spending, outlays for which Congress has passed laws making permanent appropriations that it rarely reviews.

Most tax credits—the most popular way to spend through the tax code—are economically indistinguishable from direct spending.
And here they describe the very same thing I have:
A lawmaker may want to subsidize electric vehicles because a new factory is opening in his district. Congress could propose a new program to send a $7,500 check to qualifying purchasers of new electric cars. To meet the same goal, the same lawmaker could instead propose to cut taxes for those who purchase a new qualifying electric car by creating a $7,500 tax credit.

Boom.

keeping more of the money you earned isnt welfare,,

 

[g5000]

keeping more of the money you earned isnt welfare,,

And there it is. The cry of the welfare queen I spoke of in post 55.

It isn't your money. It is money taken from other taxpayers who have to pay higher taxes to offset your deductions.

It is theft.

 

[g5000]

keeping more of the money you earned isnt welfare,,

If you don't believe me, just ask Deven Nunes, one of the most hardcore supporters of Donald Trump in Congress:


No tax reform without border adjustment tax, Rep. Nunes says

"If people wanted to drop the corporate rate from 35 to say 33, 32, maybe 30, we could probably do it. But if you go back to several years that we looked at doing just that, the goal was to get to 25 percent, and by the time every lobbyist, every special interest group in town, representing every major corporation in this country, the tax rate was automatically all the way back above 30 by the time you put everybody's special loophole in."


I know for a fact I have shown you this more than once already, but you insist on remaining blind to the truth that tax expenditures are offset by higher tax rates.