Deficit up 17%

#526
#526
hog88 said:
True, nobody wants to truly tackle the national debt.
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Agreed. What's worse is we (taxpayers) have allowed the 2 parties to point fingers at each other. Many have bought into the shell game and only b!tch and moan when the other team does it. People in this very thread are doing it.
Predictably, the discussion also touches on taxes levied. As if the problem of our debt is related to tax money collected. Politicians can ALWAYS outspend revenue. It isnt a taxation issue.
 
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#528
#528
McDad said:
Agreed. What's worse is we (taxpayers) have allowed the 2 parties to point fingers at each other. Many have bought into the shell game and only b!tch and moan when the other team does it. People in this very thread are doing it.
Predictably, the discussion also touches on taxes levied. As if the problem of our debt is related to tax money collected. Politicians can ALWAYS outspend revenue. It isnt a taxation issue.
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When the discussion begins with taxing the wealthy it's a dead giveaway that the poster has absolutely no real interest in eliminating the national debt.
 
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#529
#529
hog88 said:
When the discussion begins with taxing the wealthy it's a dead giveaway that the poster has absolutely no real interest in eliminating the national debt.
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Agreed.
I've seen on some social media sites people are romanticizing the days of a 70% top marginal rate. And how strong the economy was back then. What they fail to realize, or don't care about, is there were all kinds of deductions allowed back then. Nobody forked over 70%.
 
#530
#530
McDad said:
Agreed.
I've seen on some social media sites people are romanticizing the days of a 70% top marginal rate. And how strong the economy was back then. What they fail to realize, or don't care about, is there were all kinds of deductions allowed back then. Nobody forked over 70%.
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I've agreed to going back to that rate schedule as long as we re-adopt the same deductions. I'd join a country club and take more "business trips". Can't get any of them to touch that subject.
 
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#531
#531
hog88 said:
I've agreed to going back to that rate schedule as long as we re-adopt the same deductions. I'd join a country club and take more "business trips". Can't get any of them to touch that subject.
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Was there a capital gains tax back then?
 
#533
#533
hog88 said:
I've agreed to going back to that rate schedule as long as we re-adopt the same deductions. I'd join a country club and take more "business trips". Can't get any of them to touch that subject.
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I think there was also something crazy like you could deduct $12K per kid in today's dollars.
 
#535
#535
hog88 said:
When the discussion begins with taxing the wealthy it's a dead giveaway that the poster has absolutely no real interest in eliminating the national debt.
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When the discussion DOESN'T begin with taxing the wealthy it's a dead giveaway that the poster has absolutely no real interest in eliminating national debt.
 
#536
#536
luthervol said:
When the discussion DOESN'T begin with taxing the wealthy it's a dead giveaway that the poster has absolutely no real interest in eliminating national debt.
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We already know how much is coming in right now and it's plenty to fund a constitutionally mandated govt. There needs to be a budget put together with that amount in mind. Then cut each budget item based on how aggressively you want to pay down the debt. Some can take a bigger cut than others but all need to have some skin in the game
 
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#537
#537
luthervol said:
When the discussion DOESN'T begin with taxing the wealthy it's a dead giveaway that the poster has absolutely no real interest in eliminating national debt.
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We have a spending problem not a revenue problem so let's start where the problem begins.
 
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#538
#538
hog88 said:
We have a spending problem not a revenue problem so let's start where the problem begins.
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It will require addressing both. If you want to start with spending (by one millisecond) then start with spending. We obviously have to have an adequate revenue source.
 
#540
#540
Said it before and I'll say it again.

If we are going to have deficits I'd rather it be because we didn't collect enough money from tax payers than because we keep authorizing the government to spend more and more in more areas of our lives.
 
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#541
#541
McDad said:
Agreed. What's worse is we (taxpayers) have allowed the 2 parties to point fingers at each other. Many have bought into the shell game and only b!tch and moan when the other team does it. People in this very thread are doing it.
Predictably, the discussion also touches on taxes levied. As if the problem of our debt is related to tax money collected. Politicians can ALWAYS outspend revenue. It isnt a taxation issue.
Click to expand...
I wish I could like this more times. Spot on. And it won’t be fixed until we demand it. Anyone who supports budgets, or CR’s, that add to the debt have to be voted out of office. Won’t happen bc politics is a team sport.
 
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#543
#543
luthervol said:
lol....Of course we do, so what was the point of your previous post?
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That we do not need to incease taxes on anyone to tackle the debt. Cut spending to bare bones first then if there isn’t enough revenue coming in we can talk about taxes.
 
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#544
#544
hog88 said:
That we do not need to incease taxes on anyone to tackle the debt. Cut spending to bare bones first then if there isn’t enough revenue coming in we can talk about taxes.
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Why is this so difficult for some to understand?
 
#545
#545
hog88 said:
That we do not need to incease taxes on anyone to tackle the debt. Cut spending to bare bones first then if there isn’t enough revenue coming in we can talk about taxes.
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I would be okay with not increasing tax revenue as long as taxes were paid in an equitable manner.
 
#548
#548
hog88 said:
Finally something we agree about, low income people are not paying their fair share.
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lol.....we do agree that the tax burden should be shared equitably (equal burden). Common ground is refreshing.
If there are some low income people not shouldering their fair share, it needs to be corrected. If there are some high income people not shouldering their fair share, it needs to be corrected. If there are some middle income people not shouldering their fair share, it needs to be corrected. Are we still in agreement?
 
#549
#549
luthervol said:
lol.....we do agree that the tax burden should be shared equitably (equal burden). Common ground is refreshing.
If there are some low income people not shouldering their fair share, it needs to be corrected. If there are some high income people not shouldering their fair share, it needs to be corrected. If there are some middle income people not shouldering their fair share, it needs to be corrected. Are we still in agreement?
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Low income folks eat up more resources and pay little to no income taxes, high income folks use less resources and actually pay income taxes. The simple existence of the EITC is proof.
 
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#550
#550
hog88 said:
Low income folks eat up more resources and pay little to no income taxes, high income folks use less resources and actually pay income taxes. The simple existence of the EITC is proof.
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Not disagreeing, but there is an argument that high income people are using more or are more dependent on public infrastructure as well....ie, if you own a company that is shipping stuff you are obviously using roads more than a low income person would, etc.

I suspect at the aggregate low income is using more resources, but I don't think its as big of a difference as one would think.
 
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