The only way to pay off this massive Republican caused deficit.

Neubarth

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We will soon have legislation proposed to make the maximum Tax rate for Americans set to Sixty percent. Everybody who makes more than 30,000 a year will pay Sixty percent on the amount over 30K. The States will be prohibited from taxing more than forty percent on income above 30K but could go up to that number to pay off the state deficits that they have funded with bond issuances that are coming due.

We will be able to balance the budget within ten years at that rate and then pay down the debt thereafter. This is a fair Democratic solution. Everybody will be taxed at the same rate on their income above 30K. You gotta love Obama. He is a very fair President.
 

uscitizen

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Everyone should be taxed at the same rate regardless of income on all income.
That way no one could claim they are getting screwed.

I am tired of all the whining.
 

driveby

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We will soon have legislation proposed to make the maximum Tax rate for Americans set to Sixty percent. Everybody who makes more than 30,000 a year will pay Sixty percent on the amount over 30K. The States will be prohibited from taxing more than forty percent on income above 30K but could go up to that number to pay off the state deficits that they have funded with bond issuances that are coming due.

We will be able to balance the budget within ten years at that rate and then pay down the debt thereafter. This is a fair Democratic solution. Everybody will be taxed at the same rate on their income above 30K. You gotta love Obama. He is a very fair President.

The dems are here to save the day, oh joy ..........
 

elvis

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We will soon have legislation proposed to make the maximum Tax rate for Americans set to Sixty percent. Everybody who makes more than 30,000 a year will pay Sixty percent on the amount over 30K. The States will be prohibited from taxing more than forty percent on income above 30K but could go up to that number to pay off the state deficits that they have funded with bond issuances that are coming due.

We will be able to balance the budget within ten years at that rate and then pay down the debt thereafter. This is a fair Democratic solution. Everybody will be taxed at the same rate on their income above 30K. You gotta love Obama. He is a very fair President.

The dems are here to save the day, oh joy ..........

yeah, doubling the debt. :lol::lol:
 

Old Rocks

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Ah yes, the wonderful Republican solutions. Go to a war based on lies, reduce taxes, and then claim the Dems are to blame for that deficit and the resulting economic disaster. Gotta love that kind of chutzpah.
 

elvis

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Ah yes, the wonderful Republican solutions. Go to a war based on lies, reduce taxes, and then claim the Dems are to blame for that deficit and the resulting economic disaster. Gotta love that kind of chutzpah.

Obama is doubling the debt that Bush created. Oh that's right he has a D behind his name so for partisan hacks like you, it's ok.
 

Old Rocks

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No, it's not OK. It is neccessary. Doing nothing would have resulted in a repeat of '29.

Reality is that we are going to have to reduce expenditures and increase government income. That means reductions in defense as well as social programs. That also means that we have to increase tax rates, particularly on the very wealthy.

The present health care system is another drag on the economy. We pay twice as much for a system that simply does not work. When you are paying premium dollar per citizen, even counting those not covered by the system, and you rank #37, behind even a little nation with one tenth the average income, then you are doing something wrong, and wasting much of the 18% of the GDP spent on health care.
 

elvis

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No, it's not OK. It is neccessary. Doing nothing would have resulted in a repeat of '29.

Reality is that we are going to have to reduce expenditures and increase government income. That means reductions in defense as well as social programs. That also means that we have to increase tax rates, particularly on the very wealthy.

The present health care system is another drag on the economy. We pay twice as much for a system that simply does not work. When you are paying premium dollar per citizen, even counting those not covered by the system, and you rank #37, behind even a little nation with one tenth the average income, then you are doing something wrong, and wasting much of the 18% of the GDP spent on health care.

Bush bailed the banks out, not obama. that rescued us from another 1929. this stimulus package hasn't saved us from anything. It is only going to create huge inflation. and if you think raising taxes will turn this economy around, you're a bigger idiot than I imagined.
 

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the deficit isn't a partisan issue
, you folks can continue to paint it as one, but the bottom line is both parties individual members voted for their piece(s) of the pork traditonally without regard to it

because it just didn't register internally.

externally, that other countries are considering a different global monetary benchmark than the dollar ,reeks of national insolvency imho

so.....perhaps a foolish Q, but somebody's gotta ask it.......can anyone here tell me if America is a solvent nation?

doesn't the IMF (regardless of what you may think of them) monitor such things?

what are they saying about this issue?

what have they done with other countries that are in the 'red'?

~S~
 

sparky

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the hidden tax, as it's called Toro......but effective up to what point would be the Q

~S~
 
OP
Neubarth

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No, it's not OK. It is neccessary. Doing nothing would have resulted in a repeat of '29.

Reality is that we are going to have to reduce expenditures and increase government income. That means reductions in defense as well as social programs. That also means that we have to increase tax rates, particularly on the very wealthy.

The present health care system is another drag on the economy. We pay twice as much for a system that simply does not work. When you are paying premium dollar per citizen, even counting those not covered by the system, and you rank #37, behind even a little nation with one tenth the average income, then you are doing something wrong, and wasting much of the 18% of the GDP spent on health care.

Bush bailed the banks out, not obama. that rescued us from another 1929. this stimulus package hasn't saved us from anything. It is only going to create huge inflation. and if you think raising taxes will turn this economy around, you're a bigger idiot than I imagined.

For the weekend (at least), I am an Idiot, too. Remember there Guitar Player that a substantial portion of the stimulus has not had effect yet (as in some of it has not even been spent yet). When that happens, we will have a booming economy with far less workers. Who needs all those excess workers anyway. The lack of jobs for everybody will free up a lot of people to be creative and work in the arts. Thus our country will have a greatly increasing number of artists and poets. We will be like France or Italy. Think of the grandeur! Obama is taking us down the greatest path in history.
 

mudwhistle

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Ah yes, the wonderful Republican solutions. Go to a war based on lies, reduce taxes, and then claim the Dems are to blame for that deficit and the resulting economic disaster. Gotta love that kind of chutzpah.

Who voted for every spending bill the president signed the last 30 years?

Democrats.

So shut it.:cool:
 

Douger

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Does that mean Goldberg Saxstein, Walmart, Monsanto,Boeing,Hilton, and others will have to cough up 60% of their profits ?
Of course not. If so, the debt would be cleared quickly.
That's not in the script.

What is in the script is the decimation of those annoying, over educated, middle class people with opinions.

They want slack jawed, flag waving, idiots in trailer parks to be their source of revenue.
Gawd Blass 'Murka !
Here's a repugnicant get together.
[ame=http://www.youtube.com/watch?v=Ba49TxdT4e4&feature=related]YouTube - Red Neck National Anthem[/ame]
 

mudwhistle

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Actually, the way the deficit and debt is eventually going to be paid off is inflation, IMHO.

That's pretty stupid.

Inflation will increase the deficit along with increase interest rates on all of that borrowed money which will skyrocket the debt.

Go back to school.
 
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Neubarth

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Actually, the way the deficit and debt is eventually going to be paid off is inflation, IMHO.

That's pretty stupid.

Inflation will increase the deficit along with increase interest rates on all of that borrowed money.

Go back to school.
Toro is not stupid. He is a genius who is occasionally deluded by Republican propaganda as most of us have been from time to time.

Fact remains that if the Federal Government stopped all spending in excess of income, our money owed would only accrue interest and could easily be "paid off" as the dollar inflates since hte buying power of what we owed will decrease with the rate of inflation. 14 percent inflation would make that money 14 percent less expensive to pay off.

We could solve all of our monetary woes if we stopped selling bonds on the International Market. We need to sell all of our bonds to the FED as we have started doing under the wise leadership of The Great Obama. The FED does not collect the interest, thus those loans are free and the potential money that can be borrowed from the FED is endless. So we can pay off all of our deficits with free FED bond purchases. We can do that as long as the FED stands.
 
R

rdean

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Newly revised estimates from Citizens for Tax Justice show that the Bush tax cuts cost almost $2.5 trillion over the decade after they first enacted (2001-210)

Citizens For Tax Justice: The Bush Tax Cuts Cost Two and a Half Times as Much as the House Democrats' Health Care Proposal

Q+A-Cost of Iraq, Afghanistan tops $1 trillion | Reuters

Congress has approved $1.05 trillion dollars for the wars in Iraq and Afghanistan (some estimates say that is actually closer to 3 trillion), according to the National Priorities Project, a nonpartisan budget research group that has a continuously running war cost counter on its website.

-------------------------------------------

Then there were "smaller" items, such as the cost of Katrina and the first stimulus package.

Now remember, all of these happened BEFORE Obama because president. So how did Bush manage his budget so low? It was quite easy, he didn't include the cost of any of these in his budget.

Did you notice the Bush tax cuts were actually about 2 and a half times the cost of the health care plan? Plus it was passed through reconciliation. Thought I would mention that.

So start adding all that up and conservatives say, "It's Obama, not Bush". Are they just liars or delusional?

Notice how conservatives rarely add links, but demand them from liberals. Why is that?
 
OP
Neubarth

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Congress has approved $1.05 trillion dollars for the wars in Iraq and Afghanistan (some estimates say that is actually closer to 3 trillion), according to the National Priorities Project, a nonpartisan budget research group that has a continuously running war cost counter on its website.

... Why is that?

Personally, I think we should stop this insane binge of warmaking in Asia and tell the Red Chinese, if you want to stop the advance of Radical Islam, YOU take care of the problem in your own back yard. We are going to stop wasting our money protecting you. Kill them yourselves.
 

Toro

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Actually, the way the deficit and debt is eventually going to be paid off is inflation, IMHO.

That's pretty stupid.

Inflation will increase the deficit along with increase interest rates on all of that borrowed money which will skyrocket the debt.

Go back to school.

I used to lecture at university.

What makes you think interest rates are going to go up? They may, but there are many ways that the government can keep interest rates low. The government did so in the 1950s by fixing interest rates and effectively inflated away much the debt created during WWII. Short term interest rates are 0% now. The government can keep interest rates low for a long time.

The only way to deal with the massive liabilities are

1. Huge tax cuts
2. Huge spending cuts to defense, medicare, social security, etc.
3. Inflation

Pick which one is most likely.
 
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Liability

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The only way to pay off this massive Republican caused deficit.


What a stupid and obviously fraudulent premise. :cuckoo:

The guy neubarf loves so much, President Obama, is demanding and getting authority to increase of national debt to such massive depths that there will never be any honest way to pay it off.

The economic retard in chief (President Obama) is sending us toward a realm within 10 years where 90 cents of every dollar spend by the Federal Government will be DEBT.

The insane economics of that imbecile, that dishonest socialist/Marxist inclined dufus, is already unsustainable. When it gets magnified several fold, there is no chance of making the unsustainable somehow now sustainable.

Did the GOP contribute to this mess? Yes. But how anybody could lay the entire blame at their feet is beyond reason. The majority of the problem is the liberal tax and spend and borrowing idiocy of the liberal Democratics and the liberal Democratics bear the significant majority of the blame.

And they MUST be stopped.
 

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