Debt Approaches 17 Trillion
07-19-2013, 04:25 PM
#11
Gets Weekends Off
Joined APC: Jan 2009
Position: Airbus 319/320 Captain
Posts: 880
Originally Posted by jungle
You still can't read?
" The Government Accountability Office (GAO) projects that payouts for these programs will significantly exceed tax revenues over the next 75 years."
The GAO has proven itself to be consistent in one area, it always underestimates actual cost of these programs. SS/ Medicaid/Care and Military are the three largest outlays in the budget-in that order.
You see the rich(now defined by you as anyone making more than median income) as the enemy, but they are the ones contributing the most to both this country and the economy. The great bulk of them hardworking self-made upper middle class americans.
I do understand that most need someone else to blame for their problems.
I must give you credit for one correct statement, although for the wrong reason. Nobody is making 12% on their money because the FED has held interest rates well below market value for over a decade and in conjunction with the treasury printing 85 billion in new debt every month have thus robbed the economy and savers of tens of trillions and reduced the value of the dollar and the US credit rating in the process.
We are very much like Detroit, enjoy the show. We all love a good fairey tale and you are chock full of them kiddo.
" The Government Accountability Office (GAO) projects that payouts for these programs will significantly exceed tax revenues over the next 75 years."
The GAO has proven itself to be consistent in one area, it always underestimates actual cost of these programs. SS/ Medicaid/Care and Military are the three largest outlays in the budget-in that order.
You see the rich(now defined by you as anyone making more than median income) as the enemy, but they are the ones contributing the most to both this country and the economy. The great bulk of them hardworking self-made upper middle class americans.
I do understand that most need someone else to blame for their problems.
I must give you credit for one correct statement, although for the wrong reason. Nobody is making 12% on their money because the FED has held interest rates well below market value for over a decade and in conjunction with the treasury printing 85 billion in new debt every month have thus robbed the economy and savers of tens of trillions and reduced the value of the dollar and the US credit rating in the process.
We are very much like Detroit, enjoy the show. We all love a good fairey tale and you are chock full of them kiddo.
07-19-2013, 07:02 PM
#12
Retired
Joined APC: Feb 2008
Position: whale wrangler
Posts: 3,527
Originally Posted by N2264J
Baloney. This old CATO Institute chestnut is meant to frighten the serfs. "Unfunded obligation" assumes no tax revenues at all. And by the way, Social Security is
prohibited by law from adding to the debt.
The rich hide their money off shore so they don't have to pay tax to the country that allowed and helped them to prosper
The rich move jobs overseas wrecking our middle class & economy
The rich won't send their children to fight the wars they themselves champion and
The rich won't think twice about destroying our habitat
The rich just aren't that patriotic.
Here's a video about how the wealth is distributed.
Wealth Inequality in America - YouTube
Notice that the bottom 50% aren't paying any taxes because they aren't making any money.
.
prohibited by law from adding to the debt.
The rich hide their money off shore so they don't have to pay tax to the country that allowed and helped them to prosper
The rich move jobs overseas wrecking our middle class & economy
The rich won't send their children to fight the wars they themselves champion and
The rich won't think twice about destroying our habitat
The rich just aren't that patriotic.
Here's a video about how the wealth is distributed.
Wealth Inequality in America - YouTube
Notice that the bottom 50% aren't paying any taxes because they aren't making any money.
.
2.They move jobs overseas due to the inane regulatory and taxation posture in America .
3.Don't know where you picked that up but from a personal perspective I'll just say that it's not exactly correct.
There is one question that has never really been answered by anyone and that is just how much schould the wealthy pay-50 %? 60% or how about 75 % and maybe you would like an asset tax on top of all that ?
Mind you there are some states where when all taxes are combined they top out near 50-60 %.
07-19-2013, 10:37 PM
#13
Gets Weekends Off
Joined APC: Nov 2011
Position: Volleyball Player
Posts: 3,978
I would at least entertain the idea of selling Texas back to Mexico to pay down the debt...
07-20-2013, 02:42 AM
#14
Banned
Joined APC: Apr 2009
Position: electron wrangler
Posts: 372
Re: Debt Approaches 17 Trillion
Originally Posted by jungle
You still can't read?
" The Government Accountability Office (GAO) projects that payouts for these programs will significantly exceed tax revenues over the next 75 years."
" The Government Accountability Office (GAO) projects that payouts for these programs will significantly exceed tax revenues over the next 75 years."
next 75 years.
You see the rich(now defined by you as anyone making more than median income)...
median income" is rich.
Important safety tip: If you have to re-shape reality in order to advance your argument, you're losing.
.
Last edited by N2264J; 07-20-2013 at 02:54 AM.
07-20-2013, 03:24 AM
#15
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
Originally Posted by N2264J
I can read just fine and the numbers assume no tax revenue whatsoever over the
next 75 years.
I didn't say that. I said the bottom 50% aren't paying income tax because they don't have much of an income and that's a long way from "anyone making more than
median income" is rich.
Important safety tip: If you have to re-shape reality in order to advance your argument, you're losing.
.
next 75 years.
I didn't say that. I said the bottom 50% aren't paying income tax because they don't have much of an income and that's a long way from "anyone making more than
median income" is rich.
Important safety tip: If you have to re-shape reality in order to advance your argument, you're losing.
.
Can you show us that the GAO said anything about zero taxes?
Fine, then tell us why we are printing so much money now just to meet the current revenue shortfall, clearly tax revenue can't meet current obligations now or in the future.
Why don't you define rich and then tell us how much money we are going to need?
Would you like to claim Detroit isn't broke too?
Do you dispute any of the numbers shown here:http://www.usdebtclock.org/
You come off as a liar when you can't construct an argument based on the math, or someone who cannot add a column of figures together.
So you think paying taxes is patriotic? That makes it easy, we can all just compare W-2s to see who is really patriotic, are you really this simple?
Last edited by jungle; 07-20-2013 at 04:46 AM.
07-20-2013, 04:21 AM
#16
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
Originally Posted by brianb
So, somebody explain to me why we, the American people, pay interest to the Federal Reserve on money printed out of thin air? .
Fiscal restraint and a budget balanced to match revenues would go a long way towards fixing this mess we have, but that is only going to happen when reality forces it to happen.
07-20-2013, 04:51 AM
#17
Retired
Joined APC: Feb 2008
Position: whale wrangler
Posts: 3,527
What an absolute travesty and the writing was on the wall for years and yet was ignored countless times .
Why oh why can't people look forward 10-20 years down the road ?
Detroit: How the Motor City went bust
Kicking the can down the road only makes matters worse so why not find a solution before it gets to a point of no return?
Why oh why can't people look forward 10-20 years down the road ?
Detroit: How the Motor City went bust
Kicking the can down the road only makes matters worse so why not find a solution before it gets to a point of no return?
07-20-2013, 07:18 AM
#18
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
An excellent and amusing explanation of exactly how eating the rich would work out for us:
https://www.youtube.com/watch?v=661pi6K-8WQ
https://www.youtube.com/watch?v=661pi6K-8WQ
07-20-2013, 09:20 AM
#19
Gets Weekends Off
Joined APC: May 2007
Posts: 294
We have to make better choices in the voting both. When was the last time you( the people) went to a town hall meeting. We are all busy. The best was to make change is to hold the elected representatives accountable. Vote them out and don't me nice to them. They work for us and are doing a poor job. Treat them as such.
07-20-2013, 11:18 AM
#20
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
Originally Posted by Beaver Hunter
We have to make better choices in the voting both. When was the last time you( the people) went to a town hall meeting. We are all busy. The best was to make change is to hold the elected representatives accountable. Vote them out and don't me nice to them. They work for us and are doing a poor job. Treat them as such.
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