PILOT SPIN
Spin Zone => Spin Zone => Topic started by: Username on September 22, 2021, 08:59:18 AM
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We must absolutely raise the national debt ceiling or there will be a disaster. Massive recession and we can't spend another 4 trillion dollars that we don't have.
Maybe the best thing we can do is shut down the federal government for a few years. "Committee for a Responsible Federal Budget" HA! Perhaps the federal government shouldn't spend so much? Nah. Too simple a solution. Can't buy votes with responsible spending.
https://www.cnn.com/2021/09/22/politics/debt-ceiling-warnings/index.html
A mild recession, according to analysts, would likely be the best-case scenario in the event of the US government defaulting on its debts, a limit the country is expected to reach next month and for which Congress must act to increase. The worst case scenario would involve downstream effects of potentially cascading job losses, a shut down in tens of billions in Covid-19 economic recovery aid still set to be delivered, a near-freeze in credit markets and gross domestic product taking a tangible hit that could last for multiple quarters. "No one would be spared," Maya MacGuineas, president of the Committee for a Responsible Federal Budget, told CNN. "It would be such a self-imposed disaster that we wouldn't recover from, all at a time when our role in the world is already being questioned."
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It is beyond out of control now. What needs to happen is a DEPRESSION to reset the entire country and essentially flush the toilet and get rid of as much of government as possible. It is unsustainable. Yes, people will say we need MORE government like FDR's New Deal, but what we probably really need is a disastrous, prolonged World War that actually threatens us and creates some strife and priorities that align with REAL LIFE, not Social and Economic "Justice" (Injustice and Marxism).
Our current OVER affluent society is built on LIES. And that's why people have the luxury to believe in Radical, Far Left Communism.
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If we don't it will destroy the good faith and credit of the United States of America. That will do more lasting damage than any of us can possibly imagine. A lot of our modern world is built on perception. If perceptions change, so do behaviors.
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If we don't it will destroy the good faith and credit of the United States of America. That will do more lasting damage than any of us can possibly imagine. A lot of our modern world is built on perception. If perceptions change, so do behaviors.
Yea, let's just sell out future generations with more debt they will never repay. ::)
Ya know, not like dumping all this cash into the economy will actually do any harm. I mean, just keep the printing presses going and make more, right? What could possibly go wrong???
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Yea, let's just sell out future generations with more debt they will never repay. ::)
Ya know, not like dumping all this cash into the economy will actually do any harm. I mean, just keep the printing presses going and make more, right? What could possibly go wrong???
And we think inflation is bad now, just wait.
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How about we demand congress spend our money wisely? No more handouts to other countries, no more money to the military industrial complex, no more money for repetitive government programs, etc., etc., etc.
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And we think inflation is bad now, just wait.
Yea, but people will be making fabulous money! Someone like the perfesser will be making $500,000/yr!
(But never mind a loaf of bread will be $1000. Or gas at $2000/gallon.)
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Yea, but people will be making fabulous money! Someone like the perfesser will be making $500,000/yr!
(But never mind a loaf of bread will be $1000. Or gas at $2000/gallon.)
If you can find it. For the last week at our Publix the Gatorade shelf has been or nearly empty. We have a BoJangles that closes at noon due to lack of staff.
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We must absolutely raise the national debt ceiling or there will be a disaster.
The problem with government spending is not the restraint on government spending. If the debt ceiling is not raised, they will just monetize the debt. If the debt ceiling is raised, they will just borrow the debt directly. Are you so naïve as to believe that either one is better than the other?
The solution is to restrain the government. Regrettably, I believe only the states can do that now and I think they won't.
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If you can find it. For the last week at our Publix the Gatorade shelf has been or nearly empty. We have a BoJangles that closes at noon due to lack of staff.
I have not been able to find gatorade zero or sugar free koolaid pouches in weeks.
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If we don't it will destroy the good faith and credit of the United States of America. That will do more lasting damage than any of us can possibly imagine. A lot of our modern world is built on perception. If perceptions change, so do behaviors.
Drunk again?
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I have not been able to find gatorade zero or sugar free koolaid pouches in weeks.
It's just the beginning. Look for Soviet grocery store levels across all the products as the Leftists push further and further toward socialism.
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How about we demand congress spend our money wisely? No more handouts to other countries, no more money to the military industrial complex, no more money for repetitive government programs, etc., etc., etc.
While I agree, rectifying this problem has not been a priority for either party. The GOP is addicted to tax cuts no matter how they inflate the debt, and the Dems like social spending that does likewise. I just think defaulting on our debts is going to make things far, far worse.
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While I agree, rectifying this problem has not been a priority for either party. The GOP is addicted to tax cuts no matter how they inflate the debt, and the Dems like social spending that does likewise. I just think defaulting on our debts is going to make things far, far worse.
I agree with you that both parties are responsible. I also agree defaulting isn’t the answer. Unfortunately I don’t think there is an answer. What it would take to fix this would be a much smaller government with much less spending regardless of what you do with taxes, at a point in time where much of the public is clambering for more and more freebies. Free college, free childcare, more regulation of every aspect of our lives requiring more and more government employees to administer, and the obligations of social security and medicare due to an aging population are ballooning. It’s a runaway train but there’s not enough public will to stop it, and the politicians only care about their next election, not the long term consequences. We’ve been kicking the can down the road for decades and it might be way too late to stop this train wreck.
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I agree with you that both parties are responsible. I also agree defaulting isn’t the answer. Unfortunately I don’t think there is an answer. What it would take to fix this would be a much smaller government with much less spending regardless of what you do with taxes, at a point in time where much of the public is clambering for more and more freebies. Free college, free childcare, more regulation of every aspect of our lives requiring more and more government employees to administer, and the obligations of social security and medicare due to an aging population are ballooning. It’s a runaway train but there’s not enough public will to stop it, and the politicians only care about their next election, not the long term consequences. We’ve been kicking the can down the road for decades and it might be way too late to stop this train wreck.
This is fixable, we just don't have any of the DC Uniparty willing to do it except for a minor few.
Start with foreign aid. Cut it all off. It's a boondoggle that has gone on way too long.
Start cutting out all the bullshit grants. W don't need transgender studies in Pakistan, we don't need to study a swamp frog in Guatemala. Stop subsidizing AmTrack and a host of other mismanaged government programs.
Cut back on funding MIC projects that never produce anything that is used or works. That's billions within itself.
Scrap the current tax code and go to a flat tax. Get the lower 50% of wage earners who pay zero in federal income tax to start paying. Stop IRS welfare programs.
Remove government agencies that are already replicated in the state level. We don't need an EPA, a DOE and many of these other useless agencies when the states are already doing it themselves.
I could go on for pages.
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This is fixable, we just don't have any of the DC Uniparty willing to do it except for a minor few.
Start with foreign aid. Cut it all off. It's a boondoggle that has gone on way too long.
Start cutting out all the bullshit grants. W don't need transgender studies in Pakistan, we don't need to study a swamp frog in Guatemala. Stop subsidizing AmTrack and a host of other mismanaged government programs.
Cut back on funding MIC projects that never produce anything that is used or works. That's billions within itself.
Scrap the current tax code and go to a flat tax. Get the lower 50% of wage earners who pay zero in federal income tax to start paying. Stop IRS welfare programs.
Remove government agencies that are already replicated in the state level. We don't need an EPA, a DOE and many of these other useless agencies when the states are already doing it themselves.
I could go on for pages.
Trump might have started working on some of that if he were in the WH now and if not for covid.
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While I agree, rectifying this problem has not been a priority for either party. The GOP is addicted to tax cuts no matter how they inflate the debt, and the Dems like social spending that does likewise. I just think defaulting on our debts is going to make things far, far worse.
Tax cut INCREASED Tax REVENUE across the board due to a growing, dynamic economy they enable. Look at the REVENUE numbers under Trump. They set records. Take Econ 101 please.
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Tax cut INCREASED Tax REVENUE across the board due to a growing, dynamic economy they enable. Look at the REVENUE numbers under Trump. They set records. Take Econ 101 please.
You are wasting your time trying to reason with POS.
He is a pathetic, troll, blindly babbling the communist party line hoping he doesn’t get canceled for being white.
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While I agree, rectifying this problem has not been a priority for either party. The GOP is addicted to tax cuts no matter how they inflate the debt, and the Dems like social spending that does likewise. I just think defaulting on our debts is going to make things far, far worse.
I suppose those tax cuts are to blame for record tax revenues.
And Anthony beat me to it ::)
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And the Biden admin wanto to add 50,000 people to the current 75,000 in the IRS.
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And the Biden admin wanto to add 50,000 people to the current 75,000 in the IRS.
Polite correction: 87,000 new agents, plus budget increase of $80 billion
https://www.politico.com/news/2021/05/20/irs-funding-boost-489830
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Polite correction: 87,000 new agents, plus budget increase of $80 billion
https://www.politico.com/news/2021/05/20/irs-funding-boost-489830 (https://www.politico.com/news/2021/05/20/irs-funding-boost-489830)
Thanks, it's only money. Let us not forget, in the real world a boss would have to justify that kind of addition with numbers on what the return would be and how quickly.
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Polite correction: 87,000 new agents, plus budget increase of $80 billion
https://www.politico.com/news/2021/05/20/irs-funding-boost-489830
“To snag tax cheats.” Hahahahahaha!!!
If you don’t trust yourself, you don’t trust anyone else.
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“To snag tax cheats.” Hahahahahaha!!!
If you don’t trust yourself, you don’t trust anyone else.
I'm sure they will all be assigned to go after those millionaires and billionaires who don't pay taxes.
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I'm sure they will all be assigned to go after those millionaires and billionaires who don't pay taxes.
Don’t get me started on AOC and her tax the rich dress. Hypocrite. Sanctimonious twat.
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While I agree, rectifying this problem has not been a priority for either party. The GOP is addicted to tax cuts no matter how they inflate the debt, and the Dems like social spending that does likewise. I just think defaulting on our debts is going to make things far, far worse.
Nobody is talking about defaulting on debts. That’s fear mongering that is easily disproved. US law requires debt servicing first. The US will not default on debt.
But can we really justify taking more away from Americans? Taxing more isn’t the answer because there isn’t enough income from the rich to make up the deficit. You’re either going to further weaken the country by borrowing more or further weaken the country by devaluing the money, which increases the misery of all.
I’m in favor of tax cuts because I have this fantasy that it will force a Congress to make hard choices and make real cuts in spending. But that never happens and Republicans are cowards who are afraid to cut programs. So the addiction to govt money continues and continues to feed itself.
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The Democrats just want more high paying Government PATRONAGE jobs for political payback. That's all they ever want. Buy votes, buy campaign helpers, rig the system for power.
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Every time the topic of the debt cieling comes up, blind, ideologues of the left (like mikey) pop up and start blathering about the toxic Reagan-Bush-Trump tax cuts and how they solely are the reason for the national debt.
It's all bullshit, but when all you have is the lie, you just keep using it.
Like Russia, Russia, Russia.
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$524B to pay for interest on our debt this year.
https://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm
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As far as I know, take the money the government gives out for social security and medicare, add in the military budget and you have now spent a little more money than the government takes in. That was the last time I checked, before the Trump tax cuts. I think you could cut out the entirely of the discretionary program, send the Congress home, pack up the SCOTUS and still run in the red.
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As far as I know, take the money the government gives out for social security and medicare, add in the military budget and you have now spent a little more money than the government takes in. That was the last time I checked, before the Trump tax cuts. I think you could cut out the entirely of the discretionary program, send the Congress home, pack up the SCOTUS and still run in the red.
That's because you have never been taught anything resembling the truth.
LOW tax Rates Guarantee HIGH Tax Revenue. It works every time it's tried.
Low lifes like communists in Congress have a disturbing habit of raising spending above any increase in revenue to keep the people from understanding the truth.
It is hard for a blind ideologue to understand because you've been conditioned to think lies, since low tax rates also incentivize hard word and economic independence which is anathema to liberals. You won't find economic truth in the faculty lounge, and you lack the capacity to want to know it anyway.
Without a dependent class of serfs, liberals would have no one to serve them and its so much easier to steal elections from poor and under served people, than deal with a strong, independent middle class.
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sadly, people conflate tax rate and taxes
sadly, people forget that Congress controls spending
sadly, people forget that Congress sets tax rates and tax policy.
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As far as I know, take the money the government gives out for social security and medicare, add in the military budget and you have now spent a little more money than the government takes in. That was the last time I checked, before the Trump tax cuts. I think you could cut out the entirely of the discretionary program, send the Congress home, pack up the SCOTUS and still run in the red.
Please go read the actual data. Get one of your students to help you.
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Please go read the actual data. Get one of your students to help you.
Prove me wrong.
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Prove me wrong.
I doubt you could balance a check book, and I seriously doubt you have any knowledge of economics. Nothing to prove to you, because as you constantly demonstrate, when you are proven wrong (over and over) you simply ignore it.
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Prove me wrong.
The problem is that when they set tax rates they make the assumption that the initial condition isn’t influenced by the tax rate. The economy earns $100. You’re taxing it at ten percent. You’re taking in $10. You decide you want $20 so you raise the tax rate to 20%. But what really happens is part of the economy shrinks because it doesn’t want to pay 20%. Maybe they move offshore. Maybe they decide to go on welfare instead. But probably most often they invest less for the future because they predict less return, they move money into loopholes, take payment in cash under the table or whatever. Let’s say now your economy only earns $90. Twenty percent of $90 is $18. So you have more revenue but not $20. But when you get greedy and abuse this, raise taxes to 50 or 60%, it eventually actually lowers revenue. There comes a point you will get less than the original $10. Keep in mind the difference between numerical revenue and real revenue after accounting for inflation.
This isn’t linear. This effect is on a curve from very low to very high tax rates, so it’s not always true that any increase in rates results in less revenue, but it is true that all tax increases have a dampening effect on the economy. This is often covered up by government spending, which obfuscates economic slow downs.
All else equal, a large lowering of tax rates fuels the economy. The Trump tax cuts did so, most especially for small businesses. But there were also effects of loosening regulation, so it’s not always easy or straightforward to nail down the amount the tax cuts influenced the growing economy but what is certain is that Trump policies on the whole sure did.
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If you can find it. For the last week at our Publix the Gatorade shelf has been or nearly empty. We have a BoJangles that closes at noon due to lack of staff.
From a shop in Florida last week:
(https://uploads.tapatalk-cdn.com/20210923/814b61d9740d3c2a6a59ed97367f750e.jpg)
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Prove me wrong.
I already did. Federal Tax Revenue INCREASED EVERY YEAR UNDER TRUMP who lowered Federal Income Tax RATES..
Look it up. I can't post links from my phone.
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I already did. Federal Tax Revenue INCREASED EVERY YEAR UNDER TRUMP who lowered Federal Income Tax RATES..
Look it up. I can't post links from my phone.
Mikey is far too intellectually challenged to handle things outside the mandatory narrative.
You're wasting your time.
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Same story. I ask for proof, I get insults. By the way, federal revenue increased under Clinton despite tax increases. Decreased under Bush the Younger (and I think Bush the Older) despite tax reductions.
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Same story. I ask for proof, I get insults. By the way, federal revenue increased under Clinton despite tax increases. Decreased under Bush the Younger (and I think Bush the Older) despite tax reductions.
because that's the only relationship...
::) ::) ::)
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Same story. I ask for proof, I get insults. By the way, federal revenue increased under Clinton despite tax increases. Decreased under Bush the Younger (and I think Bush the Older) despite tax reductions.
Under Trump, with tax cuts the government received record tax revenues.
The US does not have a revenue problem, we have a spending problem. That’s why a balanced budget amendment is so desperately needed.
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Same story. I ask for proof, I get insults. By the way, federal revenue increased under Clinton despite tax increases. Decreased under Bush the Younger (and I think Bush the Older) despite tax reductions.
Hey! Did you even read my post? I didn’t insult you. And I explained how the relationship isn’t always so clear cut.
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Hey! Did you even read my post? I didn’t insult you. And I explained how the relationship isn’t always so clear cut.
Perfesser resorts to playing the victim when facts are presented.
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Same story. I ask for proof, I get insults. By the way, federal revenue increased under Clinton despite tax increases. Decreased under Bush the Younger (and I think Bush the Older) despite tax reductions.
https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762
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Same story. I ask for proof, I get insults. By the way, federal revenue increased under Clinton despite tax increases. Decreased under Bush the Younger (and I think Bush the Older) despite tax reductions.
You're a fucking mongoloid.
Do you not remember Newt Gingrich dragging that fucking asswipe kicking and screaming to welfare reform and a sensible budget?
Of course not.
Your owners haven't given you permission to think, yet.
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Same story. I ask for proof, I get insults. By the way, federal revenue increased under Clinton despite tax increases. Decreased under Bush the Younger (and I think Bush the Older) despite tax reductions.
I didn't insult you.
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federal revenue increased under Clinton despite tax increases.
So more money to the government is a good thing to you? You see, I still think more money in our pockets is a better thing.
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So more money to the government is a good thing to you? You see, I still think more money in our pockets is a better thing.
Bingo.
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(https://media.gab.com/system/media_attachments/files/085/552/309/original/3d5670e555250ecb.png)
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(https://media.gab.com/system/media_attachments/files/085/552/309/original/3d5670e555250ecb.png)
YEP, but he's steingars' kind of idiot.
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https://twitter.com/POTUS/status/1441924106765602819?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1441924106765602819%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcitizenfreepress.com%2Fbreaking%2Fbiden-my-4-trillion-budget-costs-zero-dollars%2F
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I'm sure Biden's view of how much tax is paid by the rich is colored by how much tax he personally paid. His tax guys made clever use of corporate structures to shelter most of his income to the point that he paid about a 2.5% effective tax rate.
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I'm sure Biden's view of how much tax is paid by the rich is colored by how much tax he personally paid. His tax guys made clever use of corporate structures to shelter most of his income to the point that he paid about a 2.5% effective tax rate.
The Democrats and MEDIA just say that shit because they know people believe it and like to hear it out of pure envy. Idiots.