Wealth Tax: Yeah! Why do Warren Buffett and Bill gates need so much money in their Trust?

[Blues Man]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

most americans don't pay taxes.

Income taxes maybe but everyone pays aces.

 

[Blues Man]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...

All they know is the net.

Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people

Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.

It hasn't happened yet and the rich have owned our political system for 200 years.

And they pay drastically less in taxes. Tax cuts fuel big gov.

Even when the rich paid 70% the government never cut spending.

If you give the government more revenue they will simply spend that too.

In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.

Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...

We've been running deficits almost every year since 1929

And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.

It's all cumulative.

We are still paying for the deficits from 1929.

And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.

 

[jc456]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

most americans don't pay taxes.

Income taxes maybe but everyone pays aces.

well when one files a tax return, one is showing the income they paid taxes on. Sales tax, state tax and all other taxes, most believe come to 40% of ones earning power.

 

[Blues Man]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

most americans don't pay taxes.

Income taxes maybe but everyone pays aces.

well when one files a tax return, one is showing the income they paid taxes on. Sales tax, state tax and all other taxes, most believe come to 40% of ones earning power.

most people don't know how much sales tax they pay every year. Most home owners don't really even know how much they pay in real estate taxes as they are usually included in the escrow fees on the mortgage.

People in general are pretty ignorant about their finances.

 

[ThunderKiss1965]

We will need to pay off debt somehow.

Cut spending.

 

[Andylusion]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

You obviously don't pay taxes----

CUT SPENDING --the government steals more than enough of my money. They are just robbing taxpayers and fyi ONCE AGAIN..you are completely ignorant if you think the billionaires don't have loopholes to get out of paying taxes leaving the middle class and lower upper class to pay for all of this graft and corruption. This is why billionaires donate aka BUY politicians-----

CUT spending----------make every dime be accounted for..........

I pay a shit ton of taxes. Increase taxes and spending will be cut. Until then people don’t care and debt will grow.

Increase taxes and spending will be cut?

That's not true. Never has been true.

Why didn't that work in Greece? If you made just $48,000 a year, you were subjected to a 44% tax rate, plus your social security tax of 25%, plus the 24% VAT sales tax.

Why did Greece go broke? Why did they end up in a crisis, default on their bonds, and have people burning wood to keep warm, because they couldn't even afford natural gas?

Explain?

The first bush increased taxes and that made people care about debt. Clinton then decreased deficits.

Actually that is not true. You can look up the budget proposals by Clinton, and see that every single budget proposal he ever made, has no plans for reducing the deficit.

It was Republicans with the 1994 "Contract With America" with Newt Gingrich that pushed for deficit reduction by....... Not increasing taxes, and no it wasn't anything to do with Bush.....

But rather, by cutting spending. You can go look this up. Every single year, under the Republican congress, they undercut Bill Clinton's budget.

None of Clinton's budget proposals ever had a balanced budget, nor a surplus.

Without the Republicans, no balanced budget would have ever happened. And by the way, we know this because the moment they had a surplus, they signed bills to spend most of it. There is no point to a 'surplus' if you spend it, instead of paying down the debts.

And by the way, the tax hikes from Bush, were followed by an increase in the deficit. The problems wasn't taxes. The problem was the spending.

You missed the point. The tax increase made people care about debt and that lead to decreased deficits.

Prove that claim.

Show me the poll anywhere, that said people cared about deficits specifically because of the tax increases?

New York and California have the highest tax rates in the country, and both have massive debt and deficits.

I don't see any corelation between taxes and caring about the debt.

 

[Andylusion]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

increasing taxes has never paid down the deficit ....when DC gets more money they spend it and enrich their family friends and allies . the more they get the more they spend the more they spend the more they steal.

But it has. The first Bush increased taxes and that made people care about debt. Deficits drastically increased under Clinton due to this.

Deficits didn't increase under Clinton.

In fact, by Clinton's second term, the deficit was eliminated with billions in surplus.

Clinton raised taxes on the rich when he first came into office. None of the republicans voted for it.

Clinton raised taxes on the rich and cut spending.

He left a balanced budget with billions in surplus and a plan to have the reagan/bush national debt paid off by 2010. He also paid back all the money that had been stolen from the social security fund. Took it out of the red and back into the black.

Too bad the republicans and the bush boy trashed it.

The Republicans are the ones who caused that surplus. Again, you can go read Clinton's proposed budgets, and budget projections. Not one... not even one of them, projected a surplus. Or even a reduction in debt.

In fact, it was only because Bill Clinton's stimulus package in 1993, was shot down as being excessive.

G.O.P. Senators Prevail, Sinking Clinton's Economic Stimulus Bill (Published 1993)

www.nytimes.com

The GOP launched a massive effort to destroy Bill Clinton's massive spending bill in 1992. It was just as excessive as Obama's bill, the only difference was, the Democrats pushed Obama's over spending bill through.

In 1993, smarter people prevented it. Then you claim deficits didn't rise under Clinton? Yeah, because of Republicans.

If not for us, Bill Clinton would have tripled the debt.

Facts over opinion. Sorry, you lose.

And when repubs are in full control deficits increase. See Trump first two years. Neither side is good on this issue.

nope. you're factually wrong. fk. They do increase spending. but they bring in more revenue. you should learn what that word is.

BTW, cutting taxes always brings in more revenue.

The Trump tax cuts hurt revenue.

nope. prove it.

US lost more tax revenue than any other developed country in 2018 due to Trump tax cuts, new report says

The U.S. tax-to-GDP ratio fell the most of any OECD member country in 2018, according to a new report released Thursday.

www.cnbc.com

That ignores the fact that tax cuts have an effect on GDP.

Without those tax cuts, GDP would not have increased by as much as it did. Thus the amount of taxes collected would not have been as large.

 

[Brain357]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...

All they know is the net.

Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people

Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.

It hasn't happened yet and the rich have owned our political system for 200 years.

And they pay drastically less in taxes. Tax cuts fuel big gov.

Even when the rich paid 70% the government never cut spending.

If you give the government more revenue they will simply spend that too.

In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.

Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...

We've been running deficits almost every year since 1929

And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.

It's all cumulative.

We are still paying for the deficits from 1929.

And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.

The first Bush raised taxes and then spending cuts lead to lower deficits during Clinton.

 

[Brain357]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

You obviously don't pay taxes----

CUT SPENDING --the government steals more than enough of my money. They are just robbing taxpayers and fyi ONCE AGAIN..you are completely ignorant if you think the billionaires don't have loopholes to get out of paying taxes leaving the middle class and lower upper class to pay for all of this graft and corruption. This is why billionaires donate aka BUY politicians-----

CUT spending----------make every dime be accounted for..........

I pay a shit ton of taxes. Increase taxes and spending will be cut. Until then people don’t care and debt will grow.

Increase taxes and spending will be cut?

That's not true. Never has been true.

Why didn't that work in Greece? If you made just $48,000 a year, you were subjected to a 44% tax rate, plus your social security tax of 25%, plus the 24% VAT sales tax.

Why did Greece go broke? Why did they end up in a crisis, default on their bonds, and have people burning wood to keep warm, because they couldn't even afford natural gas?

Explain?

The first bush increased taxes and that made people care about debt. Clinton then decreased deficits.

Actually that is not true. You can look up the budget proposals by Clinton, and see that every single budget proposal he ever made, has no plans for reducing the deficit.

It was Republicans with the 1994 "Contract With America" with Newt Gingrich that pushed for deficit reduction by....... Not increasing taxes, and no it wasn't anything to do with Bush.....

But rather, by cutting spending. You can go look this up. Every single year, under the Republican congress, they undercut Bill Clinton's budget.

None of Clinton's budget proposals ever had a balanced budget, nor a surplus.

Without the Republicans, no balanced budget would have ever happened. And by the way, we know this because the moment they had a surplus, they signed bills to spend most of it. There is no point to a 'surplus' if you spend it, instead of paying down the debts.

And by the way, the tax hikes from Bush, were followed by an increase in the deficit. The problems wasn't taxes. The problem was the spending.

You missed the point. The tax increase made people care about debt and that lead to decreased deficits.

Prove that claim.

Show me the poll anywhere, that said people cared about deficits specifically because of the tax increases?

New York and California have the highest tax rates in the country, and both have massive debt and deficits.

I don't see any corelation between taxes and caring about the debt.

See Ross Perot.

 

[Brain357]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

increasing taxes has never paid down the deficit ....when DC gets more money they spend it and enrich their family friends and allies . the more they get the more they spend the more they spend the more they steal.

But it has. The first Bush increased taxes and that made people care about debt. Deficits drastically increased under Clinton due to this.

Deficits didn't increase under Clinton.

In fact, by Clinton's second term, the deficit was eliminated with billions in surplus.

Clinton raised taxes on the rich when he first came into office. None of the republicans voted for it.

Clinton raised taxes on the rich and cut spending.

He left a balanced budget with billions in surplus and a plan to have the reagan/bush national debt paid off by 2010. He also paid back all the money that had been stolen from the social security fund. Took it out of the red and back into the black.

Too bad the republicans and the bush boy trashed it.

The Republicans are the ones who caused that surplus. Again, you can go read Clinton's proposed budgets, and budget projections. Not one... not even one of them, projected a surplus. Or even a reduction in debt.

In fact, it was only because Bill Clinton's stimulus package in 1993, was shot down as being excessive.

G.O.P. Senators Prevail, Sinking Clinton's Economic Stimulus Bill (Published 1993)

www.nytimes.com

The GOP launched a massive effort to destroy Bill Clinton's massive spending bill in 1992. It was just as excessive as Obama's bill, the only difference was, the Democrats pushed Obama's over spending bill through.

In 1993, smarter people prevented it. Then you claim deficits didn't rise under Clinton? Yeah, because of Republicans.

If not for us, Bill Clinton would have tripled the debt.

Facts over opinion. Sorry, you lose.

And when repubs are in full control deficits increase. See Trump first two years. Neither side is good on this issue.

nope. you're factually wrong. fk. They do increase spending. but they bring in more revenue. you should learn what that word is.

BTW, cutting taxes always brings in more revenue.

The Trump tax cuts hurt revenue.

nope. prove it.

US lost more tax revenue than any other developed country in 2018 due to Trump tax cuts, new report says

The U.S. tax-to-GDP ratio fell the most of any OECD member country in 2018, according to a new report released Thursday.

www.cnbc.com

That ignores the fact that tax cuts have an effect on GDP.

Without those tax cuts, GDP would not have increased by as much as it did. Thus the amount of taxes collected would not have been as large.

No noticeable increase in gdp.

 

[Brain357]

One thing is for certain. Every time we cut taxes, deficits increase drastically.

 

[Blues Man]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...

All they know is the net.

Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people

Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.

It hasn't happened yet and the rich have owned our political system for 200 years.

And they pay drastically less in taxes. Tax cuts fuel big gov.

Even when the rich paid 70% the government never cut spending.

If you give the government more revenue they will simply spend that too.

In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.

Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...

We've been running deficits almost every year since 1929

And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.

It's all cumulative.

We are still paying for the deficits from 1929.

And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.

The first Bush raised taxes and then spending cuts lead to lower deficits during Clinton.

So what if deficits were lower? Overall spending increased and Clinton left a larger debt than he inherited.

And don't try to minimize the effects of the tech bubble on revenues either.

Clinton just got lucky that that particular bubble didn't burst on his watch

 

[Brain357]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...

All they know is the net.

Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people

Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.

It hasn't happened yet and the rich have owned our political system for 200 years.

And they pay drastically less in taxes. Tax cuts fuel big gov.

Even when the rich paid 70% the government never cut spending.

If you give the government more revenue they will simply spend that too.

In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.

Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...

We've been running deficits almost every year since 1929

And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.

It's all cumulative.

We are still paying for the deficits from 1929.

And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.

The first Bush raised taxes and then spending cuts lead to lower deficits during Clinton.

So what if deficits were lower? Overall spending increased and Clinton left a larger debt than he inherited.

And don't try to minimize the effects of the tech bubble on revenues either.

Clinton just got lucky that that particular bubble didn't burst on his watch

Deficits declined, that’s a big deal. By comparison they increased with Reagan, bushes, Trump... if they always declined debt would shrink as a percent of gdp

 

[jc456]

One thing is for certain. Every time we cut taxes, deficits increase drastically.

you still don't get it. And, it proves that tax cuts create more revenue. See congress sees more money and increases spending. Son, you can't win this debate. the only way to stop a deficit or debt is to stop spending more than one has in revenue. It's quite simple. Must be why you don't get it.

 

[jc456]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...

All they know is the net.

Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people

Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.

It hasn't happened yet and the rich have owned our political system for 200 years.

And they pay drastically less in taxes. Tax cuts fuel big gov.

Even when the rich paid 70% the government never cut spending.

If you give the government more revenue they will simply spend that too.

In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.

Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...

We've been running deficits almost every year since 1929

And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.

It's all cumulative.

We are still paying for the deficits from 1929.

And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.

The first Bush raised taxes and then spending cuts lead to lower deficits during Clinton.

So what if deficits were lower? Overall spending increased and Clinton left a larger debt than he inherited.

And don't try to minimize the effects of the tech bubble on revenues either.

Clinton just got lucky that that particular bubble didn't burst on his watch

Deficits declined, that’s a big deal. By comparison they increased with Reagan, bushes, Trump... if they always declined debt would shrink as a percent of gdp

Post #194

 

[Brain357]

One thing is for certain. Every time we cut taxes, deficits increase drastically.

you still don't get it. And, it proves that tax cuts create more revenue. See congress sees more money and increases spending. Son, you can't win this debate. the only way to stop a deficit or debt is to stop spending more than one has in revenue. It's quite simple. Must be why you don't get it.

I just proved Trump tax cuts hurt revenue. And he increased spending. The Bush tax increase led to lowering deficits. You are losing badly.

 

[Brain357]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...

All they know is the net.

Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people

Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.

It hasn't happened yet and the rich have owned our political system for 200 years.

And they pay drastically less in taxes. Tax cuts fuel big gov.

Even when the rich paid 70% the government never cut spending.

If you give the government more revenue they will simply spend that too.

In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.

Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...

We've been running deficits almost every year since 1929

And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.

It's all cumulative.

We are still paying for the deficits from 1929.

And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.

The first Bush raised taxes and then spending cuts lead to lower deficits during Clinton.

So what if deficits were lower? Overall spending increased and Clinton left a larger debt than he inherited.

And don't try to minimize the effects of the tech bubble on revenues either.

Clinton just got lucky that that particular bubble didn't burst on his watch

Deficits declined, that’s a big deal. By comparison they increased with Reagan, bushes, Trump... if they always declined debt would shrink as a percent of gdp

Post #194

Yeah you are ignoring all facts. Go figure.

 

[Blues Man]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...

All they know is the net.

Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people

Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.

It hasn't happened yet and the rich have owned our political system for 200 years.

And they pay drastically less in taxes. Tax cuts fuel big gov.

Even when the rich paid 70% the government never cut spending.

If you give the government more revenue they will simply spend that too.

In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.

Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...

We've been running deficits almost every year since 1929

And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.

It's all cumulative.

We are still paying for the deficits from 1929.

And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.

The first Bush raised taxes and then spending cuts lead to lower deficits during Clinton.

So what if deficits were lower? Overall spending increased and Clinton left a larger debt than he inherited.

And don't try to minimize the effects of the tech bubble on revenues either.

Clinton just got lucky that that particular bubble didn't burst on his watch

Deficits declined, that’s a big deal. By comparison they increased with Reagan, bushes, Trump... if they always declined debt would shrink as a percent of gdp

it doesn't really matter as the debt still grew so IOW Clinton still spent more than government revenue.

You said increased taxes lead to spending cuts and they don't. All increased revenue does is give corrupt politicians more to spend and spend they will.

 

[Brain357]

We will need to pay off debt somehow.

We need to stop spending---------making billionaires and politicians richer.

I would argue we need to stop cutting taxes and require a tax increase for any spending. We keep cutting taxes so nobody cares about debt. They will care when taxes increase.

Why is it always increase taxes rather than cut spending? If we cut out all the frivolous spending, we wouldn't need to keep raising taxes.

Also, its impossible to pay off the debt as there is more money owed than there is in existence. Every dollar borrowed is borrowed with interest, even if you gave back every dollar that was ever borrowed, you'd still owe the interest, which can only be paid by borrowing more money.

Its an endless cycle that can only be slowed by decreasing the rate of spending.

Because nobody cares about debt without a tax increase. Remember the tea party? They complained and complained about debt until they got tax cuts and then they disappeared. Meanwhile deficits increased drastically. The only way spending cuts will happen is if we get a tax increase and make people care about debt. Nobody cares about debt, they care about taxes.

But, the problem with that is, if we get into this idea that, hey, if we need more money, then we can just raise taxes. It gives no incentive to reduce spending if government thinks they can keep raising taxes to cover spending.

You have to cut spending because there is a limit to how much you can tax the people. At some point, people will be giving more money to the government than they keep for themselves....we're almost already there.

People in general don't care, and don't even think about the debt, they think about how much money they have in their paychecks. Most people don't even realize what the government is using all of their money for, they just take it for granted that "when payday comes, the government gets their cut and I get mine".

When you raise taxes, government doesn't say "oh hey, we have more money, let's do something so we can lower taxes later", they say "hey, we have more money now, so we can spend more" or, often, "we have to raise taxes to cover what we've already spent".

The debt ceiling keeps going up and up, every year it seems like we run into the debt ceiling and they keep raising it. That represents money that has to be paid back to someone, with interest. If you keep incurring debt, you can't make the payments if you never increase taxes. This is why I think we need to focus on spending cuts. We have to get spending under control so we can maybe someday lower taxes.

I'm no economist, but I did stay at a holiday Inn express last night......and I also realize that if you keep borrowing more money, you have to keep increasing your taxes to cover that borrowing.

Tax payers will only pay so much before anger.

Most tax payers have no clue what they actually pay in taxes.

They know how much their paychecks are. When a tax increase cuts pay, they will not be happy. Everyone loves their freebies now. The right loves military spending cause they have never paid for it. The left loves big gov cause they don’t pay for it. Everybody hates taxes...

All they know is the net.

Most people have absolutely no clue how much they pay in taxes besides no one is talking about raising taxes on most working people

Don’t underestimate the rich influence on politics. If they are unhappy about a tax increase, policy will be to cut spending.

It hasn't happened yet and the rich have owned our political system for 200 years.

And they pay drastically less in taxes. Tax cuts fuel big gov.

Even when the rich paid 70% the government never cut spending.

If you give the government more revenue they will simply spend that too.

In reality the government doesn't care how much revenue they take in they will spend more every year no matter what.

Yet we didn’t have a deficit problem back then . Deficit problems started with Reagan who cut taxes...

We've been running deficits almost every year since 1929

And they weren’t a large percent of gdp till the 80s. Obviously small deficits are not a big problem.

It's all cumulative.

We are still paying for the deficits from 1929.

And why don;t you show me where government has ever actually cut spending in all that time? There is absolutely no reason to think that government will ever cut spending even if taxes are raised.

The first Bush raised taxes and then spending cuts lead to lower deficits during Clinton.

So what if deficits were lower? Overall spending increased and Clinton left a larger debt than he inherited.

And don't try to minimize the effects of the tech bubble on revenues either.

Clinton just got lucky that that particular bubble didn't burst on his watch

Deficits declined, that’s a big deal. By comparison they increased with Reagan, bushes, Trump... if they always declined debt would shrink as a percent of gdp

it doesn't really matter as the debt still grew so IOW Clinton still spent more than government revenue.

You said increased taxes lead to spending cuts and they don't. All increased revenue does is give corrupt politicians more to spend and spend they will.

You are lying to yourself. Decreasing deficits matter. You just aren’t fiscally responsible.

 

[dudmuck]

One thing is for certain. Every time we cut taxes, deficits increase drastically.

you still don't get it. And, it proves that tax cuts create more revenue. See congress sees more money and increases spending. Son, you can't win this debate. the only way to stop a deficit or debt is to stop spending more than one has in revenue. It's quite simple. Must be why you don't get it.

Trump tax cuts caused us to lose more than any other developed country in 2018.