Biden MUST Stop Lying - or Forget about Increasing the Debt Ceiling

[stealthycat]

What Are the Costs of the Trump Tax Cuts to You?

The Tax Cut and Jobs Act promised to add $1.8 trillion in revenue. Instead, it could add $2.3 trillion to the debt.

www.thebalancemoney.com

over 10 years - like 50-75 billion a year in taxes not being taken by the Fed Govt and all the while, the Fed Govt is spending 1-2 trillion MORE each each than it brings in

the problem is .... spending

no really, the entire globe was under a pandemic. It was all over the news, how did you miss it?

excuses to spend trillions

Reagan, bush, trump tax cuts

The government spends what it wants regardless of tax receipts. So it's total fiscal stupidity to slash revenues while at the same time increase spending.

no we aren't.

the Govt spends trillions more than it should because it doesn't have the revenue to spend - but there is no accountability

strawman

fact

Because they've been given all of the wealth via their welfare handouts for the last 40 years.

there has been none of that, stop saying something factually incorrect

You don't pay off the debt, you outgrow it via economic expansion. Giving rich people more money doesn't do that.

no, I have a hard time understanding right wing economic ignorance.

you have no idea why we're 32 trillion in debt .... you think its because the Govt hasn't taken enough of people's money .... baffling man, just baffling

you didn't read that link - the impossibility of taxing people enough to pay off the debt which you also turn around and say isn't important anyway

 

[stealthycat]

No it was coined by Wil Rogers in 1932 criticizing the policies of Herbert Hoover.

In the 1890's it was called the "horse-and-sparrow theory".

Are you capable of researching before you engage in false statements?

 

[Jason Warfield]

why not ?

truth is, we bring in more $$ to the Fed Govt than EVER BEFORE ... the problem is the Fed Govt is also SPENDING more than every before

its got nothing to do with the rich paying taxes, they do, they pay the bulk of taxes ... didn't you know ?

Not really.

Think of it this way: those in the top tier of taxation for income (and there are many more taxes than that, of which the rich don't pay) pay only 8% on income taxes while you and I pay around 13%. Why does more of our income get taken away than those who make more? Why can't we pay the 8% and use more of our income to invest and save?

It's been proven that the rich don't use wealth to invest in jobs and industry, there is no trickle down to us. They invest for quarterly profits...there is no long term investment for them. It's always now, now and now. They don't create anything...just trade paper to make profit. And most of their wealth isn't in their income. Which is a classic mistake folks like you make. When you take the entirety of worth...very little goes to pay for anything.

As far as spending goes, I don't necessarily disagree with you that it could be curbed...the problem is that everyone wants their shit and no one is willing to sacrifice, so the politicians say yes to everything. At least with Democrats, we know we have to pay the bills...the GOP just kicks the can to the next generation and have been doing it since Reagan.

And if the logic is that the right pays most of the taxes....why is nothing getting paid off? It's because those who are rich are continuously lobbying the government for their own agendas, needs, write-offs, etc. So, whatever they may contribute to taxes is zeroed out by their lobbying the government they have paid for.

The spending is the fault of the government only insofar that they won't stand up to the rich 1% who control them. In essence, the spending problem resides with the rich who in turn, influence government.

Historically, it's always been this way. Since the Revolution.

So, yeah...they pay taxes...and then make the government spend it to their own needs. So, are they really paying taxes...or are we just calling taxes to legitimize their power?

Meanwhile...you put in far more of your paycheck to the government...and you barely get anything out of it. But the rich do...does that seem fair to you? It shouldn't.

 

[stealthycat]

Not really.

Think of it this way: those in the top tier of taxation for income (and there are many more taxes than that, of which the rich don't pay) pay only 8% on income taxes while you and I pay around 13%. Why does more of our income get taken away than those who make more? Why can't we pay the 8% and use more of our income to invest and save?

good for them ! but the truth is, the rich DO pay the bulk of taxes and low wage earners don't pay any taxes much at all

but yeah, I'm all for cutting everyones taxes down to 8%, lets do it ! oh ... Rich pay the bulk of property taxes and personal property taxes too

It's been proven that the rich don't use wealth to invest in jobs and industry, there is no trickle down to us. They invest for quarterly profits...there is no long term investment for them. It's always now, now and now. They don't create anything...just trade paper to make profit. And most of their wealth isn't in their income. Which is a classic mistake folks like you make. When you take the entirety of worth...very little goes to pay for anything.

and yet the wealthy DO pay the bulk of taxes - maybe you and I should invest the same way they do?

As far as spending goes, I don't necessarily disagree with you that it could be curbed...the problem is that everyone wants their shit and no one is willing to sacrifice, so the politicians say yes to everything. At least with Democrats, we know we have to pay the bills...the GOP just kicks the can to the next generation and have been doing it since Reagan.

Democrats are adding massive debt - under Obama for 8 year and more these 2 1/2 Biden year and yep, Trump did it too for 4 too - they're all guilty

and right now, its Biden and Democrats spending and GOP fighting them to stop

And if the logic is that the right pays most of the taxes....why is nothing getting paid off? It's because those who are rich are continuously lobbying the government for their own agendas, needs, write-offs, etc. So, whatever they may contribute to taxes is zeroed out by their lobbying the government they have paid for.

you can't bring in 4 trillion and spend 6 trillion and break even FYI

The spending is the fault of the government only insofar that they won't stand up to the rich 1% who control them. In essence, the spending problem resides with the rich who in turn, influence government.

Historically, it's always been this way. Since the Revolution.

So, yeah...they pay taxes...and then make the government spend it to their own needs. So, are they really paying taxes...or are we just calling taxes to legitimize their power?

Meanwhile...you put in far more of your paycheck to the government...and you barely get anything out of it. But the rich do...does that seem fair to you? It shouldn't.

I put more money in my pocket thanks to Trump's tax cuts and was thankful for it ... and those paying way more taxes than me? they got even more - and they should, they were paying more taxes

 

[ralfy]

They can do that by paying off debt. Then they will have room to borrow.

They need to do that by borrowing more given chronic trade deficits.

 

[jonny5]

They need to do that by borrowing more given chronic trade deficits.

They need to borrow to pay off debt? That makes no sense.

 

[rahl]

over 10 years - like 50-75 billion a year in taxes not being taken by the Fed Govt and all the while, the Fed Govt is spending 1-2 trillion MORE each each than it brings in

the problem is .... spending

The problem is not enough taxation, AND spending.

excuses to spend trillions

no, an actual global pandemic. Seriously, it was all over the news.

the Govt spends trillions more than it should because it doesn't have the revenue to spend - but there is no accountability

correct

fact

no, strawman

there has been none of that, stop saying something factually incorrect

4 decades straight they have been given welfare handouts.

you have no idea why we're 32 trillion in debt ....

I know exactly why

you think its because the Govt hasn't taken enough of people's money .... baffling man, just baffling

No. We are that much in debt because republicans slash revenues while INCREASING spending.

you didn't read that link - the impossibility of taxing people enough to pay off the debt which you also turn around and say isn't important anyway

We are never going to, nor is there any reason to, pay OFF the debt. What a stupid thing to say.

 

[stealthycat]

The problem is not enough taxation, AND spending.

how much more taxing do you want? be specific please

no, an actual global pandemic. Seriously, it was all over the news.

knee jerk reactions were on the news - how that all went did not have to happen, thank God the right finally stood up and said enough's enough and fought back against the insanity

4 decades straight they have been given welfare handouts.

link to "welfare handouts" or admit you're spreading misinformation

I know exactly why

I think you know what you've been told to think

No. We are that much in debt because republicans slash revenues while INCREASING spending.

We are never going to, nor is there any reason to, pay OFF the debt. What a stupid thing to say.

you do realize that we'll have 12 of 16 years Democrat administration led ..... you cannot possible blame the spending on GOP when 75% of the time the country was ran by Democrats

so if there is no reason to pay off the debt, stop asking for taxing people more ... in fact, tax them LESS .... the debt is irrelevant right ?

 

[rahl]

how much more taxing do you want? be specific please

Pre reagan levals

knee jerk reactions were on the news - how that all went did not have to happen, thank God the right finally stood up and said enough's enough and fought back against the insanity

Lol yea, tens of millions of people dead. No big deal at all

link to "welfare handouts" or admit you're spreading misinformation

I have already. Reagan, Bush, Trump tax cuts.

I think you know what you've been told to think

No, I know basic economics.

you do realize that we'll have 12 of 16 years Democrat administration led ..... you cannot possible blame the spending on GOP when 75% of the time the country was ran by Democrats

GOP increased both deficits and debt more so than democrats do.

so if there is no reason to pay off the debt, stop asking for taxing people more ... in fact, tax them LESS .... the debt is irrelevant right ?

strawman

 

[stealthycat]

Pre reagan levals

and that will fix ... what ?

Lol yea, tens of millions of people dead. No big deal at all

tens of millions ?? see, its this kind of mis-information that people should know better. You've been TOLD that and so you believe it

Coronavirus Death Toll and Trends - Worldometer

Updated total and statistics, graphs and charts tracking the total number of deaths, deaths per day, and death by country from the Novel Coronavirus (2019-nCoV) originating from Wuhan, China

www.worldometers.info

6,815,589 people have died so far from the coronavirus COVID-19 outbreak as of March 16, 2023, 12:32 GMT.

which is a lot, no doubt BUT the hysteria and economic shutdowns etc didn't help, didn't need to be done and was massive mistakes that was spearheaded by liberals way more than conservatives

I have already. Reagan, Bush, Trump tax cuts.

and reversing them would take money from everyones pockets and ... what? what impact would it have? seriously

No, I know basic economics.

GOP increased both deficits and debt more so than democrats do.

see now you're just trolling, because when Democrats have ran this country for 75% of the last 16 years and you STILL blame GOP ? You're not discussing in honesty now as proven above

don't respond, really .... it'll just be more misinformation

 

[rahl]

and that will fix ... what ?

End the welfare handouts the richest 1% and corporations have been getting for 4 decades, and increase revenue.

tens of millions ?? see, its this kind of mis-information that people should know better. You've been TOLD that and so you believe it

So the entire world is lying?

6,815,589 people have died so far from the coronavirus COVID-19 outbreak as of March 16, 2023, 12:32 GMT.

So almost 10 million.

which is a lot, no doubt BUT the hysteria and economic shutdowns etc didn't help, didn't need to be done and was massive mistakes that was spearheaded by liberals way more than conservatives

It saved hundreds of millions of lives.

and reversing them would take money from everyones pockets and ... what? what impact would it have? seriously

No, just the people who have gotten welfare handouts. The super rich, and corporations.

see now you're just trolling, because when Democrats have ran this country for 75% of the last 16 years and you STILL blame GOP ? You're not discussing in honesty now as proven above

don't respond, really .... it'll just be more misinformation

It's just reality. Republicans, on top of slashing revenue, add more to the deficit and debt than democrats do.

 

[Kushinator]

We dont owe the money.

It's a matter of law.

 

[Kushinator]

and reversing them would take money from everyones pockets and ... what? what impact would it have? seriously

It would do much to reduce inflation. Ever think about that?

 

[ralfy]

They need to borrow to pay off debt? That makes no sense.

Where do you think money comes from?

The country's been doing that for decades.

 

[jonny5]

Where do you think money comes from?

The country's been doing that for decades.

Money comes from production of good and services. You think it comes from IOUs?

 

[stealthycat]

It would do much to reduce inflation. Ever think about that?

increasing taxes stops inflation ?

 

[Kushinator]

increasing taxes stops inflation ?

Why does an increase in interest rates reduce inflation?

 

[ColdHardTruth]

do you think Corporations pay no taxes?

Combined Federal and State Corporate Income Tax Rates in 2022. Corporations in the United States pay federal corporate income taxes levied at a 21 percent rate.Sep 27, 2022

if companies use IRS rules that's smart business - same rules Pelosi/Shumer/Obama/Trump/Biden etc work under you know

You/We CANNOT tax our way out of 32 trillion in debt and the gross 1-2 trillion additional spending each year our Govt has been doing

If the tax rate of these corporations goes back to pre-Reagan rates, yes, we can.

you do understand that, right ? and if you are correct, 32 trillion in debt isn't a problem, then why tax people more? 50 or 70 trillion is good too, right ?

Taxes, while originally designed to fund a war (World War I) are now a source of revenue. The corporates want all the advantages but none of the responsibility.

When they actually pay their taxes, without using loopholes, the government will be solvent.

 

[stealthycat]

Why does an increase in interest rates reduce inflation?

has it ? interest rates have gone up each time with Biden's economy and we've still got rampant inflation

but share your answer - I'm anxious to hear

 

[stealthycat]

If the tax rate of these corporations goes back to pre-Reagan rates, yes, we can.

give me the numbers on how that would work

Taxes, while originally designed to fund a war (World War I) are now a source of revenue. The corporates want all the advantages but none of the responsibility.

When they actually pay their taxes, without using loopholes, the government will be solvent.

the corporations and rich literally pay almost all the taxes

do you think its the people making under $45,000 a year paying the bulk of taxes?


unless you can show me a link where blue collar American's are paying the bulk of taxes - then you're going to have to realize you believe something that isn't true .... you've been told lies .... the rich pay their fair share and vastly more

 

[ColdHardTruth]

give me the numbers on how that would work

Pre-Reagan, the tax rate for corporations was 70%.

Taxes: What people forget about Reagan

Ronald Reagan is the patron saint of lower taxes and smaller government. He cut taxes, yes. But he also raised them several times, in part to reduce high deficits and in part to pave the way for true tax reform.

money.cnn.com

the corporations and rich literally pay almost all the taxes

Bullshit.

The middle class pays most of the taxes while the 1% scum duck and hide.

do you think its the people making under $45,000 a year paying the bulk of taxes?

I think people making middle class wages are paying the bulk of the taxes. Do I think they should, no, I do not, but that burden was dropped on them when the corporations and thed 1% scum started using loopholes to avoid paying taxes.

unless you can show me a link where blue collar American's are paying the bulk of taxes - then you're going to have to realize you believe something that isn't true .... you've been told lies .... the rich pay their fair share and vastly more

Does middle class pay more taxes than rich? – YourProfoundInfo

yourprofoundinfo.com

A recent study finds that the Forbes 400 paid an effective tax rate of 8.2 percent over recent years—lower than many middle-class Americans.

 

[Kushinator]

has it ?

Wow.

interest rates have gone up each time with Biden's economy and we've still got rampant inflation

Even more ignorance.

but share your answer - I'm anxious to hear

Tax increases and interest rate hikes reduce aggregate demand, thereby reducing inflationary pressure. When the opposite occurs, well... the opposite happens! Imagine that.

This is basic stuff you should be aware of prior to getting into such discussions. That way, you won't be making a bunch stupid statements. Some folks want need to learn the hard way, and some never really are interested in learning at all.

 

[stealthycat]

The middle class pays most of the taxes while the 1% scum duck and hide.

I think people making middle class wages are paying the bulk of the taxes. Do I think they should, no, I do not, but that burden was dropped on them when the corporations and thed 1% scum started using loopholes to avoid paying taxes.

Does middle class pay more taxes than rich? – YourProfoundInfo

yourprofoundinfo.com

A recent study finds that the Forbes 400 paid an effective tax rate of 8.2 percent over recent years—lower than many middle-class Americans.

please educate yourself

Summary of the Latest Federal Income Tax Data, 2023 Update

The latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.

taxfoundation.org

In all, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined. The top 1 percent of taxpayers paid $723 billion in income taxes while the bottom 90 percent paid $450 billion.

 

[stealthycat]

Wow.

Even more ignorance.

Tax increases and interest rate hikes reduce aggregate demand, thereby reducing inflationary pressure. When the opposite occurs, well... the opposite happens! Imagine that.

This is basic stuff you should be aware of prior to getting into such discussions. That way, you won't be making a bunch stupid statements. Some folks want need to learn the hard way, and some never really are interested in learning at all.

so why is inflation continuing as Biden's administration see's increase after increase in interest rates ?

inflation is still soaring and has for 2 1/2 years (Biden years)

 

[ColdHardTruth]

please educate yourself

Summary of the Latest Federal Income Tax Data, 2023 Update

The latest IRS data shows that the U.S. federal individual income tax continued to be progressive, borne primarily by the highest income earners.

taxfoundation.org

In all, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined. The top 1 percent of taxpayers paid $723 billion in income taxes while the bottom 90 percent paid $450 billion.

Defending the 1% are we?


A recent study finds that the Forbes 400 paid an effective tax rate of 8.2 percent over recent years—lower than many middle-class Americans.