Big "debt deal"? Just more kicking the can, kicking the can, kicking the can.

Discussion in 'Political Opinions & Beliefs' started by conservaliberal, Jun 1, 2023.

  1. FAW

    FAW Well-Known Member Past Donor

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    Yes, you misstated my words.

    This is silly.
     
  2. FreshAir

    FreshAir Well-Known Member Past Donor

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    never said otherwise, but we can have caps on the cuts, just like there were caps on the $1000 check sent out under Trump
     
  3. Endeavor

    Endeavor Well-Known Member

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    The word you were missing when you said “Conserver care about debt and deficit” is “pretend”

    What you should say “ Conservative Pretend to care about debt and deficit”
     
  4. FAW

    FAW Well-Known Member Past Donor

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    Why should we cap cuts?

    Tax cuts should benefit everyone according to how much they pay, just like the 20% off coupon at Bed Bath and Beyond. If you buy a $200 item, you save 40%. If you buy a $20 item, you save $4.

    I fail to see the problem. Our tax system has a degree of progressivity. I do not see changes in tax policy needing to increase the amount of progressivity.
     
  5. FAW

    FAW Well-Known Member Past Donor

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    This has went past redundant. I am happy that I have long since made my point.

    I have no need to keep rehashing the same thing into infinity.
     
  6. FreshAir

    FreshAir Well-Known Member Past Donor

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    because we can't afford not too and the rich do not need the cuts, we have a huge debt remember

    by your logic we need tax loopholes for the middle class, so we can pay zero in taxes too like the rich, not fair the rich get so many of them
     
    Last edited: Jun 2, 2023
  7. FAW

    FAW Well-Known Member Past Donor

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    We dont have a revenue problem. We have a spending problem. I have zero desire to increase the size of the federal budget. If we want to stop spending and attack the debt, it should be attacked equally. Trying to pin it on another income bracket just because you are not in that income bracket ispoor public policy, although I realize it sells really well to people on the left.
     
    Last edited: Jun 2, 2023
  8. FreshAir

    FreshAir Well-Known Member Past Donor

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    revenue and spending are two sides of the same coin

    we could raise the min wage more so less qualify for welfare, welfare is societies cost of cheap labor
     
  9. FAW

    FAW Well-Known Member Past Donor

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    Hell, why not raise mimimum wage to $100 an hour? Wouldnt that solve all of our problems with your mindset?
     
  10. FreshAir

    FreshAir Well-Known Member Past Donor

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    the right prob wants to bring back slave labor, cause when ever you talk about a common sense min wage, they say things like "why not raise mimimum wage to $100 an hour?"

    Eventually the min wage will need to be $100 though, just like it was like 50 cents when our grandparents were little
     
    Last edited: Jun 2, 2023
  11. FAW

    FAW Well-Known Member Past Donor

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    You didnt answer my question...

    Why not raise mimimum wage to $100 an hour? Wouldnt that solve all of our problems with your mindset?
     
  12. FreshAir

    FreshAir Well-Known Member Past Donor

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    be dumb as me asking why not 0% tax for the rich every time the rich asked for a tax cut for the rich

    people whine about welfare, but do not get that welfare is the cost to society for low wages

    if less people qualified for welfare, less would get it... thus reducing spending
     
    Last edited: Jun 2, 2023
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  13. FAW

    FAW Well-Known Member Past Donor

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    Huh?

    I have no idea about your statement and how that is relevant, but my statement is designed to illustrate that raising minimum wage is a fools errand. No matter where it is set, the people earning minimum wage will still be the bottom 10%. As recent inflation has illustrated, more money in peoples pockets does not mean more ability to buy.

    Now why would someone ask why not tax the rich 0%?

    That one is a head-scratcher.
     
    Last edited: Jun 2, 2023
  14. FreshAir

    FreshAir Well-Known Member Past Donor

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    that was the point, why would someone ask to raise the min wage to $100?

    it should be gradually raised with the cost of living, the min wage has fallen behind
     
    Last edited: Jun 2, 2023
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  15. nopartisanbull

    nopartisanbull Well-Known Member

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    We also have a revenue problem, today & tomorrow.
     
    Last edited: Jun 3, 2023
  16. conservaliberal

    conservaliberal Well-Known Member

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    Please provide a link to the information you provided in this post :above:. Thanks!
     
  17. Zorro

    Zorro Well-Known Member

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    WOW: McCarthy nears best speaker territory, 50% approve.

    'Today, Rasmussen Reports put McCarthy on the throne of public approval. He now has a 50% favorable rating, higher than former Speaker Nancy Pelosi reached in her second stint in the top job, according to a YouGov polling timeline for her. And many have declared her one of the greatest House speakers.'

    McCarthy has reached his new high on the success of the debt deal he cut with President Joe Biden. He and his surrogates have been able to sell the benefits of the package.'

    'As a result, 65% of Republicans and 43% of Democrats approve of McCarthy.'
     
  18. FAW

    FAW Well-Known Member Past Donor

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    Gradually or not, the same principle applies. It changes nothing in the long run. That is my point.
     
  19. nopartisanbull

    nopartisanbull Well-Known Member

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    2022 was my first full year as a sole proprietor

    Federal income tax owed, April 2023; $21,278

    Trump; $750
     
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  20. FAW

    FAW Well-Known Member Past Donor

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    The above is your opinion.

    In my opinion, we have enough revenue as a percentage of GDP. We have a huge deficit. I have zero desire to grow the government any larger than it currently is. We need to cut spending to get in line with that revenue, and the only increases in revenue should come from GDP growth.
     
  21. RodB

    RodB Well-Known Member Donor

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    Congress and administrations have a lot of experience at kicking the can, and they are getting very good at it.
     
  22. nopartisanbull

    nopartisanbull Well-Known Member

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    In FY2022, WE HAD more than enough revenue…..as a percentage of GDP, 19.6%

    Source; OMB Historical Tables

    Total Receipts/Nominal GDP
    $4.886 Trillion/$25 Trillion

    ANALOGY;

    In 1997, Gingrich & Co. nearly balanced the budget, deficit; $22 billion

    Receipts as a percentage of GDP; 18.7%
    Outlays; 18.9%

    HOWEVER, HOWEVER, HOWEVER, what were the main contributing factors of Biden’s 2022 record high receipts?

    1. Abnormal/Record high Capita Gains tax receipts; Approx. $200 billion

    Note; I was wondering why April’s 2023 individual tax collection was significantly lower April’s 2022?????……I did my research.

    2. Compared to FY 2019, Corporate Income tax receipts increased by 85%

    Note; Same Fiscal Year comparison, several foreign nation’s corporate tax receipts have also increased by 85%…….Same reason; Excessive corporate profits, and primarily due to inflation.

    3. Federal Reserve remitting their earned interest to Treasury

    FY2022; $120 billion

    FY2023; NO REMITTANCES???? I did my research as to why.

    Note; Said remittance is itemized in the Monthly Treasury Statement, “Miscellaneous” receipts

    NOW Biden’s projected FY2023 Receipts;

    April 2022 Cumulative Receipts; $2.986 Trillion
    April 2023 Cumulative Receipts; $2.687 Trillion
    DOWN 10%

    Biden’s FY2022 Receipts; $4.896T - 10% = $4.4 trillion

    As a percentage of CBO’s projected 2023 Nominal GDP

    $4.4T/$26T 16.9%

    Note; Trump’s FY2018/2019 tax receipts as a percentage of GDP; 16.4%

    ONCE AGAIN, Gingrich & Co.’s FY1997 tax receipts as a percentage of GDP; 18.7%

    NO SIR! When tax receipts fall under 17% of GDP, we seriously have a revenue problem.

    Ask yourself this question, and do the math;

    Would Gingrich & Co. have balanced the budget with receipts below 17% of GDP?
     
    Last edited: Jun 3, 2023
  23. conservaliberal

    conservaliberal Well-Known Member

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    Yes, many on the Left have become so delusional that they, like one of their representative economic experts, agree that debt, along with nearly everything else of a fiscal nature, is subject to the whims of fantasy.

    So, we'll just go on "kicking the can", or, as AOC suggests,
    upload_2023-6-3_11-12-8.jpeg . :roll: FDR would be proud of this one.
     
    Last edited: Jun 3, 2023
  24. FAW

    FAW Well-Known Member Past Donor

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    Sincerely, I have zero desire to get this far into the weeds on this subject.

    None of this changes my previous statement. I will leave it at that.
     
  25. Alwayssa

    Alwayssa Well-Known Member

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    Of that $21,728, how much was self employment tax, if any?
     

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