So it's pretty clear now that the debt is not going away without some serious tax increases and some equally serious restraints on government spending. As of today the debt stands at $28.4 TRILLION.
Just a number, right?
Lets break it down a bit;
Per American, that's over $85,000.
Per taxpayer, that's over $226,000.

How many of us taxpayers has $226,000 to pay off our share of the debt?



So, here's the thing.
Our government has been spending an average of $1 TRILLION a year more than they are taking in since basically 2010. Before that, it was less than $1 TRILLION, but the point is, it's pretty clear to anyone who thinks about it for a bit that spending is out of control.

And we have a tax income problem. Not enough coming in.


Now part of the problem of understanding all this is that mixed in with both taxes and spending is the Social Security/Medicare thing. Because Americans pay into both programs while they are working, and collect it back when they retire (according to what they paid in) and because it represents a huge piece of both income and spending, we get wrapped around the axle talking about it, when it is self sustaining and should be taken out of both the income and expense side of the equation. You know, for clarity.

So anyway, biden/harris are talking about a really huge increase in taxes (for the wealthy) and of course for those rich greedy fat cat corporations that pay NO INCOME TAX.

The problem that Shooter sees is, as soon as they raise taxes, and they will, you can count on it, they'll increase spending.

Oh, wait, they already did. Increase spending.
If biden/harris get their way with their "infrastructure bill" and a $6 TRILLION budget, they will have spent over $12 TRILLION in the first year of their administration, with no plan on how to pay for it.

See, what with our debt and spending load, it's only a matter of time before inflation kicks in, and when that happens we are all of us well and truly fucked, cause we'll go the way of Venezuela and Argentina and Turkey and all the other countries that outspent their revenue and got kicked in the ass for it.

So, the point of the thread is, we need to accomplish a couple of things right off the top; cut or control spending and increase taxes.

The question is, how?

So Shooter would, if he were able to,

• make it a constitutional requirement that our government live with a balanced budget.
• No spending in excess of revenue. Well over half of the states have to live within their income limits, so why can't the fed?
• He would make sure that Congress and the Federal Government pay and benefits is tied to performance; if Congress can't even pass a balanced budget, then perhaps they shouldn't be paid for doing little more than fucking around.
• Even though it would be more for show than effect, he would cut the bonus pay for government employees and end those tax paid junkets Congress and the Fed are so in love with. If some congress person wants to go to Italy on vacation, let em pay for it themselves, and not label it a "fact finding trip".

If he were president, Shooter would

• veto any budget that added to the debt.
• He would require that any new spending program have a dedicated funding source before it could be enacted. Congress would not adjourn without passing a budget that Shooter signed.

• For taxes, every American would pay some tax. Right now, some 50% of Americans pay no Federal income tax. Gotta have skin in the game.
• Eliminate loopholes. Yeah, tax credits and the like are great for encouraging whatever social engineering the current administration cooks up, but in the end, they pretty much fail. Everyone pays their damn taxes, no loopholes because Grandma needed new teeth or Acme corporation bought a new expresso machine.

So, lets see how far the discussion can go before it turns into a blame game, name calling and personal insults.

 

Just allowing IRS to collect the taxes actually owed over the years, and getting worse by the day, would go a long way
The only profit making dept in our Govt.;

 

This is a decade old, but according to this source, the IRS fails to collect about $400 BILLION a year in taxes owed.
IRS Loses $400 Billion Per Year in Unpaid Taxes | Committee for a Responsible Federal Budget (crfb.org)
Maybe not paying IRS employee bonuses and cutting out those Las Vegas junkets would give the IRS time to actually do its job?

 

Well...well...well...most rational folks know that the U.S. has a spending problem not a taxing problem...a $4 TRILLION + annual budget..quite ridiculous....Mandatory budget...is the downfall of this Nation.

Today or yesterday I was skimming a piece..either in the Epoch Times or OANN, either are equally credible, in my mind anyhow, and that's all that;s important.

Anyhow, cant find it at this moment but I'll try later.

From what I remember seeing....at the GOP conference or something like that, they developed a plan, to reduce spending and the deficit, only took a few years to do....it sure seemed like it could work.

BUT... it will take a collective Congressional effort for it to work, which looking at today's political environment, of wanting to spend $6 TRILLION this year...not likely to cut either.

 

Yeah... that's the answer....first you will never recognize the actually issues...its a spending problem not a taxing problem.

 

BS 4 years of going backwards all the while preaching we have the answer,..
So cut spending you had 4 years va did nothing...now the clown is gone he and you suddenly know how to solve the problem,...
the only thing the clown was good at was stealing

 

Dismissed...

 

"Ignored" You must really miss Stumbler..

 

This might be relevant!

https://www.theguardian.com/business/2021/jun/08/richest-25-americans-jeff-bezos-elon-musk-tax

Thinskin

 

So, according to IRS data, the top 1-5% richest Americans pay almost half of the taxes paid by individuals.

Whether it works out to 1% or 3% or 20% of their net worth (not income, if you read the article) the more relevant question is, what is a fair tax structure, and how much shoul Americans be paying for government?

Which leads to a more fundamental question, what role should the federal government play?
At one end is a government that only deals with national security. At the other end is cradle to grave everything provided by government.

 

In 1990 the top 1% owned 5% today the top 1% own 36% while the top 5% now own almost 50%

 

Of what?

 

Wait , Wait , Wait ! The amount of spending, as well as property prices increasing, is only because of "ONE Thing" The devaluation of the Dollar. The more the US borrows, the more worthless our currency becomes ! Thus inflated values.
The push has been on by the IMF Bankers to achieve a single global currency ( Paul Volker, if still alive a major proponet, Janet Yelling , the most recent.) The only way to do it is to "tank" the World's Reserve Currency, the US Dollar. Countries like China want to overpower us!

 

I dont miss stupid..

 

Only treasonous conservative/Republicans think they can live in what they claim is the greatest, most powerful, advanced country in the world and not have to pay taxes for it. Treasonous conservative/Republicans threw more than a trillion dollars at rich corporations and the 1% and were running trillion dollar deficits before anyone ever even heard of COVID 19. And now they want to scream their heads off because President Bidcn and the Democrats have to deal with the worst pandemic in a century and an economic collapse. Its the same old worn out lie of conservatism they always preach. Rack up massive debt, cut taxes to pay for it, claim the tax cuts will pay for themselves, which it never does. And then scream their lying heads off about the deficit and debt when the Democrats are in control.

And for what? Just to keep rich corporations and billionaires from having to pay taxes, and take away the things that will actually help everyone else.

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing

https://www.propublica.org/article/...ds-reveal-how-the-wealthiest-avoid-income-tax

 

Shooter started this thread when it seemed stumbler had taken at least an extended vacation, and there was at least a chance we'd get some meaningful discussion in before stumbler appeared, or one of the other minions derailed things.

Ah well, around here one day is about normal for derailments.

So we know the debt is growing at the rate of about $1-2 TRILLION a year, and there appears to be no stomach for cutting the Federal budget.

If true, we have to decide how to raise revenue by at least $2 TRILLION a year, if we have any hope of paying down the debt. Since current revenue is around $4 TRILLION a year, that means a 50% jump in tax revenue.

Now, we can go with the despicable idea that those rich fuckers and the goddam corporations don't pay tax and jack them up.
We can get the half of Americans who pay zero tax to kick in some.
We can jack up everyone's taxes.

Any other possibilities?

Or shall we just drop the whole issue, give stumbler the win, and wait for the economy to hit the wall and we'll all be in deep shit?

 

Oh, and stumbler thanks for the laughs.

" And now they want to scream their heads off because President Bidcn and the Democrats have to deal with the worst pandemic in a century and an economic collapse"​

"Rack up massive debt, cut taxes to pay for it, claim the tax cuts will pay for themselves, which it never does. And then scream their lying heads off about the deficit and debt when the Democrats are in control."​

 

Notice how the problem only began with the Reagan administration and the scam of Supply Side Economics. Trump told Bob Woodward that the could pay off the national debt in eight years with "better trade deals." How did that turn out?

 

And jetted off into the stratosphere with Obama, and it's headed for orbit with Biden.

Now that we're done blaming, how you gonna fix it?

Tax the shit out of the rich bastards and greedy corporations?
Tax the half of Americans who pay zero tax?
Increase everyone's tax by 50%?

 

For years public opinion surveys have indicated support for a more progressive tax system.

https://www.google.com/search?q=pol...hUKEwijpK3z6I3xAhUyhuAKHasKA3kQ4dUDCAk&uact=5

On the other hand there is little support for specific budget cuts.

https://www.google.com/search?q=pol...hUKEwidvJ-e6Y3xAhWLmuAKHfyQBWEQ4dUDCAk&uact=5