US Taxes are too low compared to the rest of the world

[bripat9643]

So.......again..................when you have nothing to hold value to your currency then you can manipulate your currency until the cows come home at Cadillac Ranch..............Currency Manipulation ............postal.

Andrew Jackson was the last to deal with this BS .......and the 2nd National Bank.

and when you control the value of what your currency is tied to the same thing occurs.

Government doesn't control the value of anything.

They take it VIA THEFT CALLED TAXATION.........

The more they take...........the less you have...........but it is for your own good.........LOL

They also take it via inflation.

 

[Harpy Eagle]

maybe the government should just spend less

That is a great plan, now if we could just get people like you to quit voting for one of the same two parties, neither of which will spend less.

That's great Gator. Can you point me to one of these magic politicians who don't spend like they are on crack.

Start by looking for one that does not have an (R) or a (D) by their name

 

[Toddsterpatriot]

The "Repo" Fiasco; the Fed's Cash Injections Send Stocks Soaring

From the comments on that article;

On the other hand, no private person or institution would be allowed to create $29 trillion of counterfeit money either.


So what’s going on? Is the Fed part of the US government, or an organization subordinate to the US government, or what?


By the way, for anyone who finds sums such as $29 trillion hard to come to grips with… it’s a little north of $87,000 for every US man, woman and child.


Seems to me that a citizen ought to know when someone issues $87,000 of debt in his name.


Questions for Partisans

On the other hand, no private person or institution would be allowed to create $29 trillion of counterfeit money either.

Since no one did that, what's your point?

 

[Flash]

"Taxes are too low" said nobody ever.

"Spending is too high" says everybody with a brain.

The filthy ass US government spends more money on the cost of government than the GDP of all but a few countries on earth. If you include state and local spending the number is the GDP of all but about three other countries.

The cost of combined government both direct and indirect is usually the largest family expenditure, regardless of income.

One of the reasons the US has the largest economy in the world is because we are so far down that list. The best way to be less prosperous is to move further up that list. The best way to be even more prosperous is to move farther down the list.

Government spending sucks. There are a few necessary governments functions like defense, police, courts etc but we sure as hell don't need more entitlements, bailouts, grants, subsidies and other stupid stupid redistribution of income and wealth.

Geeze, anyone ask the Leftists where the 60 to 90 Tril over the next 10yrs is coming from to pay for their new programs?

Most of America isn't going to go for that, so to bolster support, what do they call it...…………………..why a CRISIS of course!

Look, there is no doubt that the GOP is NOT the end all, be all, of anything. But when you consider the craziness of what the Socialist Left wants to do, the GOP sounds downright rational, lol.

We don't need more government programs. We need less government programs.

Ron Paul's plan that he had in 2012 to cut the Federal government spending a trillion a year would be a good start.

Ron Paul's plan depended on two things: Whether or not you believed him, and whether or not Congress would cooperate with him.

Personally, he lost credibility with me when he said "Why shouldn't Iran have nukes? Everyone else has them..."

Plus there was that drug legalization thing of his. We don't need to become a nation of unproductive potheads, while Iran has nuclear weapons.

Of course you are right. Congress will never go along with cutting the Federal budget a trillion or more each year. That is one of the reasons our country will always be fucked up. Representatives get elected by special interest groups expecting to get something in return.

I voted for Paul over McCain and Romney in 2008 and 2012.

We really need a major restructuring of our government to restore Liberty and fiscal responsibility. We need to get away from it being a big out of control bloated debt ridden welfare state. As flawed as he was Paul was our best hope to further that agenda.

His budget plan "Restore America" in 2014 was absolutely a great start towards getting this filthy ass Federal government back on the right track.

Our Federal government needs to about a trillion dollars a year. Not the $4.5 trillion it is now.

 

[Oddball]

Problem is, we are NOT going to get rid of SS or Medicare, the American people will not allow it unless we go bankrupt!

So, the best thing to do is to accept the deal with the devil, and raise those inputs from payroll taxes, but not allow them to be used in the general fund, period! That is one of the ways politicians got us into this mess, by raiding the inputs for these programs to lower yearly deficits to look good.

If we must keep them, then they need to stand alone and their tax stream be earmarked for just them!

Bullshit....They need to go, if for no better reason that The State isn't our mommy or daddy, let alone a financial advisor.

 

[kyzr]

US Taxes are too low compared to the rest of the world

Taxes are never too low. Spending is too high. Spend only for military, national security, and federal law enforcement (and maybe NASA) and slash the rest. Problem solved.

There is no way to propose cutting entitlements without getting thrown out of office.
That's why they are known as the "3rd rail" of politics.
There needs to be a bi-partisan solution to the Budget Deficit, and cutting spending never happens.
Its not a simple problem, we earned our SS & Medicare. Stop Welfare & Medicaid?
This thread shows that the US taxes are very low compared to the rest of the world, the $23T Debt is the biggest threat we face

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

 

[kyzr]

The US keeps borrowing money, $23T and counting, and that is "unsustainable" as reported by the GAO.
National debt of the United States - Wikipedia

The rest of the world appears to be more responsible.
How do US taxes compare internationally?
View attachment 304081

So to Balance the Budget and start paying down the Debt the US needs to seriously revamp the tax code. Here are my recommendations for a return to fiscal sanity:
A. Hire another "Grace Commission" to audit and fix the Federal budget deficit

B. Cut Spending $625b a year
1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
3. Cut Welfare $200b & Medicaid $200b (about half)
4. Cut education $20b (state responsibility)

US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
Current US Defense Spending:
Year Military Veterans Foreign Aid Total Defense
2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion

C. To cover the $900b budget deficit the following taxes need to be raised:
1. Raise the top tax rate about 7% above 2016 levels +$400b
2. Implement a new 3% Fed sales tax +$400b (aka VAT)
3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b (stops hi-frequency traders)
4. Implement a new remittances tax/fee on all money sent out of the US https://www.americanthinker.com/articles/2018/05/tax_remittances_can_build_the_wall.html 2% of $140b is +$3b a year


D. Reform entitlements, Medicare & Social Security, currently projected to be insolvent:

Social Security will be unable to meet obligations (not technically "bankrupt") in 2034, paying only 79% of owed benefits, while it will be actually bankrupt around 2090.
Social Security fixes:
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

Medicare will be insolvent in 2026
Medicare Fixes:
https://www.fool.com/retirement/general/2016/03/27/7-ways-to-fix-medicare.aspx
https://thehill.com/opinion/healthcare/369151-fix-what-weve-got-and-make-medicare-right-this-year
https://www.nationalaffairs.com/publications/detail/how-to-save-and-fix-medicare
https://www.aarp.org/content/dam/aarp/health/medicare-and-medicaid/2012-05/The-Future-Of-Medicare.pdf

Na, just dump Medicaid and food stamps. Budget fixed.

Yeah lets give a huge tax cut to the wealthy and then stick it to the poor and working class.

The wealthy pay way too little. They know how to buy tax loopholes. My point is that the $23T Debt is a serious problem that needs attention.

 

[kyzr]

US Taxes are too low compared to the rest of the world

Then go move to the rest of the world where you can happily hand over more than half your income to the government. The Federal treasury takes in $4 trillion a year. They have plenty of money. The problem is they spend too damn much.

Where do you propose to cut spending? Saying that they spend to much doesn't address the problem.
Here is the 2019 Budget, where specifically do you cut?
2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

 

[kyzr]

The US keeps borrowing money, $23T and counting, and that is "unsustainable" as reported by the GAO.
National debt of the United States - Wikipedia

The rest of the world appears to be more responsible.
How do US taxes compare internationally?
View attachment 304081

So to Balance the Budget and start paying down the Debt the US needs to seriously revamp the tax code. Here are my recommendations for a return to fiscal sanity:
A. Hire another "Grace Commission" to audit and fix the Federal budget deficit

B. Cut Spending $625b a year
1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
3. Cut Welfare $200b & Medicaid $200b (about half)
4. Cut education $20b (state responsibility)

US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
Current US Defense Spending:
Year Military Veterans Foreign Aid Total Defense
2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion

C. To cover the $900b budget deficit the following taxes need to be raised:
1. Raise the top tax rate about 7% above 2016 levels +$400b
2. Implement a new 3% Fed sales tax +$400b (aka VAT)
3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b (stops hi-frequency traders)
4. Implement a new remittances tax/fee on all money sent out of the US https://www.americanthinker.com/articles/2018/05/tax_remittances_can_build_the_wall.html 2% of $140b is +$3b a year


D. Reform entitlements, Medicare & Social Security, currently projected to be insolvent:

Social Security will be unable to meet obligations (not technically "bankrupt") in 2034, paying only 79% of owed benefits, while it will be actually bankrupt around 2090.
Social Security fixes:
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

Medicare will be insolvent in 2026
Medicare Fixes:
https://www.fool.com/retirement/general/2016/03/27/7-ways-to-fix-medicare.aspx
https://thehill.com/opinion/healthcare/369151-fix-what-weve-got-and-make-medicare-right-this-year
https://www.nationalaffairs.com/publications/detail/how-to-save-and-fix-medicare
https://www.aarp.org/content/dam/aarp/health/medicare-and-medicaid/2012-05/The-Future-Of-Medicare.pdf

you work for the criminal bankers of the fed or something?

Nope. A retired engineer. I'm a numbers guy, a problem solver. I hate to see stupid shit without trying to fix it.

 

[22lcidw]

"Taxes are too low" said nobody ever.

"Spending is too high" says everybody with a brain.

The filthy ass US government spends more money on the cost of government than the GDP of all but a few countries on earth. If you include state and local spending the number is the GDP of all but about three other countries.

The cost of combined government both direct and indirect is usually the largest family expenditure, regardless of income.

One of the reasons the US has the largest economy in the world is because we are so far down that list. The best way to be less prosperous is to move further up that list. The best way to be even more prosperous is to move farther down the list.

Government spending sucks. There are a few necessary governments functions like defense, police, courts etc but we sure as hell don't need more entitlements, bailouts, grants, subsidies and other stupid stupid redistribution of income and wealth.

Geeze, anyone ask the Leftists where the 60 to 90 Tril over the next 10yrs is coming from to pay for their new programs?

Most of America isn't going to go for that, so to bolster support, what do they call it...…………………..why a CRISIS of course!

Look, there is no doubt that the GOP is NOT the end all, be all, of anything. But when you consider the craziness of what the Socialist Left wants to do, the GOP sounds downright rational, lol.

We don't need more government programs. We need less government programs.

Ron Paul's plan that he had in 2012 to cut the Federal government spending a trillion a year would be a good start.

Ron Paul's plan depended on two things: Whether or not you believed him, and whether or not Congress would cooperate with him.

Personally, he lost credibility with me when he said "Why shouldn't Iran have nukes? Everyone else has them..."

Plus there was that drug legalization thing of his. We don't need to become a nation of unproductive potheads, while Iran has nuclear weapons.

I believe to Ron Paul he believes that doing immediate stops to things that go on for many years or decades there would be no consequences. However, perhaps internally he does this because if enacted his policies would not be done immedietely. They would be phased in slowly.

 

[WTH_Progs?]

I chuckle when PROGS complain about debt considering their political positions on everything increases taxes & stagnates growth.

 

[Andylusion]

The US keeps borrowing money, $23T and counting, and that is "unsustainable" as reported by the GAO.
National debt of the United States - Wikipedia

The rest of the world appears to be more responsible.
How do US taxes compare internationally?
View attachment 304081

So to Balance the Budget and start paying down the Debt the US needs to seriously revamp the tax code. Here are my recommendations for a return to fiscal sanity:
A. Hire another "Grace Commission" to audit and fix the Federal budget deficit

B. Cut Spending $625b a year
1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
3. Cut Welfare $200b & Medicaid $200b (about half)
4. Cut education $20b (state responsibility)

US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
Current US Defense Spending:
Year Military Veterans Foreign Aid Total Defense
2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion

C. To cover the $900b budget deficit the following taxes need to be raised:
1. Raise the top tax rate about 7% above 2016 levels +$400b
2. Implement a new 3% Fed sales tax +$400b (aka VAT)
3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b (stops hi-frequency traders)
4. Implement a new remittances tax/fee on all money sent out of the US https://www.americanthinker.com/articles/2018/05/tax_remittances_can_build_the_wall.html 2% of $140b is +$3b a year


D. Reform entitlements, Medicare & Social Security, currently projected to be insolvent:

Social Security will be unable to meet obligations (not technically "bankrupt") in 2034, paying only 79% of owed benefits, while it will be actually bankrupt around 2090.
Social Security fixes:
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

Medicare will be insolvent in 2026
Medicare Fixes:
https://www.fool.com/retirement/general/2016/03/27/7-ways-to-fix-medicare.aspx
https://thehill.com/opinion/healthcare/369151-fix-what-weve-got-and-make-medicare-right-this-year
https://www.nationalaffairs.com/publications/detail/how-to-save-and-fix-medicare
https://www.aarp.org/content/dam/aarp/health/medicare-and-medicaid/2012-05/The-Future-Of-Medicare.pdf

So you want to raise taxes on the poor and middle class? Because that is how the rest of the world has higher taxes.
Are you openly in favor of harming the poor and middle class?

 

[Oddball]

US Taxes are too low compared to the rest of the world

Taxes are never too low. Spending is too high. Spend only for military, national security, and federal law enforcement (and maybe NASA) and slash the rest. Problem solved.

There is no way to propose cutting entitlements without getting thrown out of office.
That's why they are known as the "3rd rail" of politics.
There needs to be a bi-partisan solution to the Budget Deficit, and cutting spending never happens.
Its not a simple problem, we earned our SS & Medicare. Stop Welfare & Medicaid?
This thread shows that the US taxes are very low compared to the rest of the world, the $23T Debt is the biggest threat we face

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

So ignore demographic reality because you'll get voted out for acknowledging it....This nation is totally fucked.

 

[Brain357]

I chuckle when PROGS complain about debt considering their political positions on everything increases taxes & stagnates growth.

Does it? Cause Trump cut taxes and his economy is much slower than the Bill Clinton economy. Heck the tax cuts gave no noticeable boost, except to the deficit.

 

[Brain357]

The US keeps borrowing money, $23T and counting, and that is "unsustainable" as reported by the GAO.
National debt of the United States - Wikipedia

The rest of the world appears to be more responsible.
How do US taxes compare internationally?
View attachment 304081

So to Balance the Budget and start paying down the Debt the US needs to seriously revamp the tax code. Here are my recommendations for a return to fiscal sanity:
A. Hire another "Grace Commission" to audit and fix the Federal budget deficit

B. Cut Spending $625b a year
1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
3. Cut Welfare $200b & Medicaid $200b (about half)
4. Cut education $20b (state responsibility)

US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
Current US Defense Spending:
Year Military Veterans Foreign Aid Total Defense
2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion

C. To cover the $900b budget deficit the following taxes need to be raised:
1. Raise the top tax rate about 7% above 2016 levels +$400b
2. Implement a new 3% Fed sales tax +$400b (aka VAT)
3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b (stops hi-frequency traders)
4. Implement a new remittances tax/fee on all money sent out of the US https://www.americanthinker.com/articles/2018/05/tax_remittances_can_build_the_wall.html 2% of $140b is +$3b a year


D. Reform entitlements, Medicare & Social Security, currently projected to be insolvent:

Social Security will be unable to meet obligations (not technically "bankrupt") in 2034, paying only 79% of owed benefits, while it will be actually bankrupt around 2090.
Social Security fixes:
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

Medicare will be insolvent in 2026
Medicare Fixes:
https://www.fool.com/retirement/general/2016/03/27/7-ways-to-fix-medicare.aspx
https://thehill.com/opinion/healthcare/369151-fix-what-weve-got-and-make-medicare-right-this-year
https://www.nationalaffairs.com/publications/detail/how-to-save-and-fix-medicare
https://www.aarp.org/content/dam/aarp/health/medicare-and-medicaid/2012-05/The-Future-Of-Medicare.pdf

So you want to raise taxes on the poor and middle class? Because that is how the rest of the world has higher taxes.
Are you openly in favor of harming the poor and middle class?

The rich and corporations are the ones who have gotten the big decreases in taxes that have led us to where we are now...

 

[DustyInfinity]

US Taxes are too low compared to the rest of the world

Taxes are never too low. Spending is too high. Spend only for military, national security, and federal law enforcement (and maybe NASA) and slash the rest. Problem solved.

There is no way to propose cutting entitlements without getting thrown out of office.
That's why they are known as the "3rd rail" of politics.
There needs to be a bi-partisan solution to the Budget Deficit, and cutting spending never happens.
Its not a simple problem, we earned our SS & Medicare. Stop Welfare & Medicaid?
This thread shows that the US taxes are very low compared to the rest of the world, the $23T Debt is the biggest threat we face

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

So, because it is impossible to cut spending, the solution is still hiking taxes? How will taking money from people and giving it to a body who has a spending problem do anything to the debt? Don't you think giving the government more money would just accelerate the spending problem?

 

[Toddsterpatriot]

I chuckle when PROGS complain about debt considering their political positions on everything increases taxes & stagnates growth.

Does it? Cause Trump cut taxes and his economy is much slower than the Bill Clinton economy. Heck the tax cuts gave no noticeable boost, except to the deficit.

Trump cut taxes and his economy is much slower than the Bill Clinton economy

Yeah, the Internet Bubble was cool!!

 

[kyzr]

The US keeps borrowing money, $23T and counting, and that is "unsustainable" as reported by the GAO.
National debt of the United States - Wikipedia

The rest of the world appears to be more responsible.
How do US taxes compare internationally?
View attachment 304081

So to Balance the Budget and start paying down the Debt the US needs to seriously revamp the tax code. Here are my recommendations for a return to fiscal sanity:
A. Hire another "Grace Commission" to audit and fix the Federal budget deficit

B. Cut Spending $625b a year
1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
3. Cut Welfare $200b & Medicaid $200b (about half)
4. Cut education $20b (state responsibility)

US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
Current US Defense Spending:
Year Military Veterans Foreign Aid Total Defense
2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion

C. To cover the $900b budget deficit the following taxes need to be raised:
1. Raise the top tax rate about 7% above 2016 levels +$400b
2. Implement a new 3% Fed sales tax +$400b (aka VAT)
3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b (stops hi-frequency traders)
4. Implement a new remittances tax/fee on all money sent out of the US https://www.americanthinker.com/articles/2018/05/tax_remittances_can_build_the_wall.html 2% of $140b is +$3b a year


D. Reform entitlements, Medicare & Social Security, currently projected to be insolvent:

Social Security will be unable to meet obligations (not technically "bankrupt") in 2034, paying only 79% of owed benefits, while it will be actually bankrupt around 2090.
Social Security fixes:
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

Medicare will be insolvent in 2026
Medicare Fixes:
https://www.fool.com/retirement/general/2016/03/27/7-ways-to-fix-medicare.aspx
https://thehill.com/opinion/healthcare/369151-fix-what-weve-got-and-make-medicare-right-this-year
https://www.nationalaffairs.com/publications/detail/how-to-save-and-fix-medicare
https://www.aarp.org/content/dam/aarp/health/medicare-and-medicaid/2012-05/The-Future-Of-Medicare.pdf

So you want to raise taxes on the poor and middle class? Because that is how the rest of the world has higher taxes.
Are you openly in favor of harming the poor and middle class?

Maybe you don't comprehend the problem. The $23T Debt will eventually cause the whole economy and financial system to collapse.
The US dollar will be worthless. What happens to the poor and middle class when that happens?
The OP showed you that the rest of the world pays higher taxes and don't pay $400b a year in interest on their Debt.
So stop whining about the fucking poor and middle class, and try to see the fucking iceberg dead ahead.

 

[kyzr]

US Taxes are too low compared to the rest of the world

Taxes are never too low. Spending is too high. Spend only for military, national security, and federal law enforcement (and maybe NASA) and slash the rest. Problem solved.

There is no way to propose cutting entitlements without getting thrown out of office.
That's why they are known as the "3rd rail" of politics.
There needs to be a bi-partisan solution to the Budget Deficit, and cutting spending never happens.
Its not a simple problem, we earned our SS & Medicare. Stop Welfare & Medicaid?
This thread shows that the US taxes are very low compared to the rest of the world, the $23T Debt is the biggest threat we face

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

So ignore demographic reality because you'll get voted out for acknowledging it....This nation is totally fucked.

US Taxes are too low compared to the rest of the world

Taxes are never too low. Spending is too high. Spend only for military, national security, and federal law enforcement (and maybe NASA) and slash the rest. Problem solved.

There is no way to propose cutting entitlements without getting thrown out of office.
That's why they are known as the "3rd rail" of politics.
There needs to be a bi-partisan solution to the Budget Deficit, and cutting spending never happens.
Its not a simple problem, we earned our SS & Medicare. Stop Welfare & Medicaid?
This thread shows that the US taxes are very low compared to the rest of the world, the $23T Debt is the biggest threat we face

2019 Federal Budget
Mandatory spending $2.74T
Social Security $878b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b

Discretionary $1.3T
Defense $893.0b
HHS $70.0b
Education $59.9b
VA $83.1b
Homeland $52.7b
Energy Dept $29.2b
NNSA $15.1b
HUD $29.2b
State Dept $40.3b
NASA $19.0b
Foreign Aid $55.0b
All Other Agencies $78.1

So, because it is impossible to cut spending, the solution is still hiking taxes? How will taking money from people and giving it to a body who has a spending problem do anything to the debt? Don't you think giving the government more money would just accelerate the spending problem?

1. Please tell me which party is actively promoting cutting spending? I was hoping that Nancy would give Trump shit about the tax cuts and start a battle over spending cuts, but no, the dems boosted spending. Congress controls the purse strings, and the democrats are looking like bigger spenders than the GOP. Care to pay for "Medicare 4 all", or "Free College", or the "Green New Deal"?

2. The OP suggests that the only solution is a "Convention of States" and a mandatory "Balanced Budget Amendment". A Commission like the "Grace Commission" would be able to streamline the federal government and propose ways to cut spending. But we simply cannot keep borrowing and growing the Debt, especially for "endless wars".

 

[Andylusion]

The US keeps borrowing money, $23T and counting, and that is "unsustainable" as reported by the GAO.
National debt of the United States - Wikipedia

The rest of the world appears to be more responsible.
How do US taxes compare internationally?
View attachment 304081

So to Balance the Budget and start paying down the Debt the US needs to seriously revamp the tax code. Here are my recommendations for a return to fiscal sanity:
A. Hire another "Grace Commission" to audit and fix the Federal budget deficit

B. Cut Spending $625b a year
1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b
2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
3. Cut Welfare $200b & Medicaid $200b (about half)
4. Cut education $20b (state responsibility)

US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
Current US Defense Spending:
Year Military Veterans Foreign Aid Total Defense
2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion

C. To cover the $900b budget deficit the following taxes need to be raised:
1. Raise the top tax rate about 7% above 2016 levels +$400b
2. Implement a new 3% Fed sales tax +$400b (aka VAT)
3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b (stops hi-frequency traders)
4. Implement a new remittances tax/fee on all money sent out of the US https://www.americanthinker.com/articles/2018/05/tax_remittances_can_build_the_wall.html 2% of $140b is +$3b a year


D. Reform entitlements, Medicare & Social Security, currently projected to be insolvent:

Social Security will be unable to meet obligations (not technically "bankrupt") in 2034, paying only 79% of owed benefits, while it will be actually bankrupt around 2090.
Social Security fixes:
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

Medicare will be insolvent in 2026
Medicare Fixes:
https://www.fool.com/retirement/general/2016/03/27/7-ways-to-fix-medicare.aspx
https://thehill.com/opinion/healthcare/369151-fix-what-weve-got-and-make-medicare-right-this-year
https://www.nationalaffairs.com/publications/detail/how-to-save-and-fix-medicare
https://www.aarp.org/content/dam/aarp/health/medicare-and-medicaid/2012-05/The-Future-Of-Medicare.pdf

So you want to raise taxes on the poor and middle class? Because that is how the rest of the world has higher taxes.
Are you openly in favor of harming the poor and middle class?

The rich and corporations are the ones who have gotten the big decreases in taxes that have led us to where we are now...

Really?
How does the US corporate tax rate compare?

So you are complaining about 21% corporate tax, when Sweden, Denmark, Switzerland, Iceland, Finland, Estonia, UK, and Ireland, all have 22% or lower tax rates.

Why do you think the rest of the world has lower Corporate tax rates? Because it attracts business, which attracts growth, which attracts higher tax revenue, which is exactly why Apple Computer invested $100 Billion into Ireland, instead of the US.

Which is exactly what we have seen, with higher tax revenues since the cut in our corporate tax rate.

Factually sir.. you full of crap. Thanks.