Whats going to happen when America can't borrow anymore money?

[SwimExpert]

There are specifics, then there are generalities. There are deductions, then there are tax expenditures. Deductions are general rules whereby basic taxation is assessed. For example, the first $10,000 of income is nontaxable.

And tax rates have to be higher because of that to make up the difference for that exemption.

On the other hand, if you bought three houses in the past year off the profits of the sale of a boat at least 45 feet long but more than seven years old, and use two houses as alternating residences while the third has been unoccupied for 9 of the past 12 months, with no more than 2 consecutive months of occupancy, and the difference between the year the house was built and the year of your birth comes out to be an even number not equal to 6, and the house is currently either blue or brown and a second color.....that is a tax expenditure.

Tax expenditures are specific exceptions to general taxation that only apply to a select qualified individuals or entities, typically for the purpose of using government policy to encourage or compensate certain behaviors, or to hand out political favors.

And again, everyone's tax rates have to be higher because of that.

A tax expenditure is a tax expenditure which results in deficit spending (borrowing) and higher tax rates.

Deficit spending is caused by fiscal irresponsibility. The constitution only requires $5.35 worth of expenditures a year. Everything else is a decision.

 

[g5000]

Do you take advantage of deductions, exemptions, and credits on your tax bill? If so, you are participating in the biggest part of the problem, by far.

Now ^^THIS^^ continues to be bullshit.

Nope. Tax expenditures add up to at least $1.2 trillion every year, and are paid for by heavy borrowing and higher tax rates.

g thinks ALL money is the Governments and anything they let you keep is an "expenditure".

I have explained this many times, and have no problem dumbing it down and explaining it to you.

The concept that tax expenditures should be banned is a right wing one. You rubes scream like welfare queens at the very thought of having your government gifts taken from you.

Pick a number. Any number. A number you think should be the federal budget's size. Let's say we have a wet dream and eliminate all food stamps and Social Security and all the other "social safety nets", eliminate the Dept of Education and the FAA and the FDA, and keep going until all we have left is the Post Office and the biggest military budget in the Universe.

So let's cut the budget all the way down to $500 billion a year. Awesome.

And let's say the number of over-18s in America is 225 million.

Your share of the $500 billion budget would be $2222.22.

And so would your next door neighbor's share.

But hold on! You have a mortgage interest deduction and you get to keep $500 of your money! So now your tax bill is $1722.22. Woo hoo!

And this is the exact point where you rubes stop thinking. "I get to keep my money!"

But that $500 billion budget still has to be paid for, you see. That hasn't changed. Which means that $500 gift you just got has to come from somewhere else so the budget can be balanced.

You rubes NEVER look at both sides of the equation.

That $500 is made up for by either deficit spending (borrowing) or by taking it out of your neighbor's hide in the form of higher tax rates.

Idiots.

 

[g5000]

$1.2 trillion a year in government gifts. Do you think that magically comes from nowhere, rubes?

Someone has to cough up that much money EVERY YEAR. And since Americans won't tolerate the tax rates it would take to cover that amount, we borrow. And borrow. And borrow. And borrow.

 

[Antares]

Do you take advantage of deductions, exemptions, and credits on your tax bill? If so, you are participating in the biggest part of the problem, by far.

Now ^^THIS^^ continues to be bullshit.

Nope. Tax expenditures add up to at least $1.2 trillion every year, and are paid for by heavy borrowing and higher tax rates.

g thinks ALL money is the Governments and anything they let you keep is an "expenditure".

I have explained this many times, and have no problem dumbing it down and explaining it to you.

The concept that tax expenditures should be banned is a right wing one. You rubes scream like welfare queens at the very thought of having your government gifts taken from you.

Pick a number. Any number. A number you think should be the federal budget's size. Let's say we have a wet dream and eliminate all food stamps and Social Security and all the other "social safety nets", eliminate the Dept of Education and the FAA and the FDA, and keep going until all we have left is the Post Office and the biggest military budget in the Universe.

So let's cut the budget all the way down to $500 billion a year. Awesome.

And let's say the number of over-18s in America is 225 million.

Your share of the $500 billion budget would be $2222.22.

And so would your next door neighbor's share.

But hold on! You have a mortgage interest deduction and you get to keep $500 of your money! So now your tax bill is $1722.22. Woo hoo!

And this is the exact point where you rubes stop thinking. "I get to keep my money!"

But that $500 billion budget still has to be paid for, you see. That hasn't changed. Which means that $500 gift you just got has to come from somewhere else so the budget can be balanced.

You rubes NEVER look at both sides of the equation.

That $500 is made up for by either deficit spending (borrowing) or by taking it out of your neighbor's hide in the form of higher tax rates.

Idiots.

You are so full of shit it's hilarious kid.

Money belongs to "the people".

The Gov gets to use some of it for their "programs" but it isn't ALL theirs.

Now I fully understand that you come at this from a strict "collectivist" angle, but really kid you are an idiot.

At some point you just can't have any more g, I know that terrifies you, but maybe you should get a job?

 

[SwimExpert]

But that $500 billion budget still has to be paid for, you see. That hasn't changed.

Or....you could just NOT SPEND THE FUCKING MONEY!

 

[g5000]

If we did nothing else, and only eliminated tax expenditures, not only would the budget be balanced, we would have a HUGE surplus.

A surplus that could be used to lower EVERYONE's tax rates, and pay down the debt. And once the debt was paid off, we could lower EVERYONE's tax rates even further.

 

[Antares]

But that $500 billion budget still has to be paid for, you see. That hasn't changed.

Or....you could just NOT SPEND THE FUCKING MONEY!

He's been peddling that collectivist lie for a few years here, it is a seriously fucked up view that says spending can NEVER be decreased.

 

[g5000]

But that $500 billion budget still has to be paid for, you see. That hasn't changed.

Or....you could just NOT SPEND THE FUCKING MONEY!

So a ZERO federal budget, eh?

Jesus, I can't believe how dense you people are. The federal government, no matter what size, is going to have expenses.

Those expenses have to be paid for.

When you get your taxes toward paying those expenses reduced by exemptions, deduction, and credits SOMEONE ELSE HAS TO MAKE UP THE DIFFERENCE.

 

[g5000]

But that $500 billion budget still has to be paid for, you see. That hasn't changed.

Or....you could just NOT SPEND THE FUCKING MONEY!

He's been peddling that collectivist lie for a few years here, it is a seriously fucked up view that says spending can NEVER be decreased.

I have never said that, willfully blind monkey.

In fact, I started my post reducing the federal budget to $500 billion to demonstrate the size of the federal budget, no matter how small, does not take away from the fact that tax expenditures have to be paid for by other taxpayers or by borrowing.

It can't be helped if you are too willfully stupid to grasp the truth of this.

 

[g5000]

Welfare queens always behave very obtusely when their government gifts are threatened. The entitlement mentality kicks in.

 

[g5000]

Deductions, exemptions, and credits are the largest government behavioral control program in history. And the sheep are completely oblivious.

 

[SwimExpert]

But that $500 billion budget still has to be paid for, you see. That hasn't changed.

Or....you could just NOT SPEND THE FUCKING MONEY!

So a ZERO federal budget, eh?

Jesus, I can't believe how dense you people are. The federal government, no matter what size, is going to have expenses.

Those expenses have to be paid for.

When you get your taxes toward paying those expenses reduced by exemptions, deduction, and credits SOMEONE ELSE HAS TO MAKE UP THE DIFFERENCE.

Once again, you're demonstrating Franco and Steve Mc. level thinking. You know damn well I never said a zero federal budget. That's what pisses me off when you spout this bullshit. You know damn well your argument is bullshit.

 

[g5000]

But that $500 billion budget still has to be paid for, you see. That hasn't changed.

Or....you could just NOT SPEND THE FUCKING MONEY!

So a ZERO federal budget, eh?

Jesus, I can't believe how dense you people are. The federal government, no matter what size, is going to have expenses.

Those expenses have to be paid for.

When you get your taxes toward paying those expenses reduced by exemptions, deduction, and credits SOMEONE ELSE HAS TO MAKE UP THE DIFFERENCE.

Once again, you're demonstrating Franco and Steve Mc. level thinking. You know damn well I never said a zero federal budget. That's what pisses me off when you spout this bullshit. You know damn well your argument is bullshit.

I reduced the budget all the way down to $500 billion and you said to not spend the fucking money.

It is obvious you are the idiot here.

 

[g5000]

Marco Rubio gets it:


Rubio-Lee tax plan eliminates deductions and ties large, small business rates

Sen. Marco Rubio, R-Fla., and Sen. Mike Lee, R-Utah, introduced a plan that would establish two individual tax rates — 15% for incomes up to $75,000 and 35% for earnings above that level — and would eliminate all tax deductions except those for mortgage interest and charitable giving.

 

[g5000]

Here is Rubio's white paper: http://www.rubio.senate.gov/public/...?File_id=2d839ff1-f995-427a-86e9-267365609942

Perhaps nowhere are the distortions of our broken tax code more obvious than in our system of business taxation. Simply put, the Internal Revenue Code limits economic growth, destroys jobs, and is fundamentally unfair. Americans will not experience the kind of widespread opportunity and shared prosperity they deserve unless we fix this destructive tax code.

Business taxation in the United States occurs across two separate and complex regimes – the corporate code and “pass-through” portions of the individual code. xii Our corporate tax rate is the highest in the developed worldxiii, which encourages businesses to incorporate abroad. The top tax rate on “pass through” businesses is even higher.xiv

Finally, this proposal will restore fairness to the tax code, by leveling the playing field for all businesses, providing permanence in the code, and removing patchwork exemptions and special-interest carve-outs

He totally gets it. By taking away tax expenditures, you can lower tax rates for everyone.

 

[g5000]

There are several Republicans in Congress floating plans to eliminate tax expenditures.

Ever since Reagan did it in 1986, the fuckers have been sneaking more and more tax expenditures back into the tax code.

It's a moneymaking machine for Congressmen. They put in tax expenditures, they get campaign cash.

You want campaign finance reform? Take away the incentive to give them cash. Take away their ability to put gifts in the code.

 

[SwimExpert]

I reduced the budget all the way down to $500 billion and you said to not spend the fucking money.

It is obvious you are the idiot here.

Why is it so impossible to offset revenue reductions with spending reductions?

 

[g5000]

I guess Rubio will be called a RINO by the willfully blind monkeys, now.

 

[g5000]

I reduced the budget all the way down to $500 billion and you said to not spend the fucking money.

It is obvious you are the idiot here.

Why is it so impossible to offset revenue reductions with spending reductions?

Hello? Is this thing on?

I REDUCED THE BUDGET FIRST. That was the very first fucking thing I did.

The current federal budget is $3.5 trillion. I reduced it to $500 billion.

You STILL have to take money from someone else's pocket to pay for tax expenditures, NO MATTER HOW BIG OR HOW SMALL THE BUDGET IS.

Please, please, please try to absorb this reality.

 

[SwimExpert]

I reduced the budget all the way down to $500 billion and you said to not spend the fucking money.

It is obvious you are the idiot here.

Why is it so impossible to offset revenue reductions with spending reductions?

Hello? Is this thing on?

I REDUCED THE BUDGET FIRST. That was the very first fucking thing I did.

The current federal budget is $3.5 trillion. I reduced it to $500 billion.

You STILL have to take money from someone else's pocket to pay for tax expenditures, NO MATTER HOW BIG OR HOW SMALL THE BUDGET IS.

Please, please, please try to absorb this reality.

Oh, I get it. You are starting off by arbitrarily creating a scenario that doesn't even come close to matching reality, so that you can create the false impression that changing things is impossible because it's already been changed per your scenario.

Here we go, I've got one....G5000 has sex with horses. Now he's a horse fucker, and it's impossible to argue against me because in my version I already made him having sex with horses.

What you are doing is a form of question begging fallacy.