Budget deficit smashes $1 trillion mark, the highest in seven years (1 Viewer)

[danielpalos]

Stop listening to crap.

Biden Misleads on Top 1% Tax Rate - FactCheck.org

We should be solving simple poverty to increase market participation and tax revenue.

 

[OrphanSlug]

Democrats are no better than Republicans, Republicans are no better than Democrats. There is no party of fiscal responsibility. Whichever party is out of power is the one that harps on deficit spending.

Agreed, but that is not what bothers me the most. Primary for me is economics, so “fiscal responsibility” comes down to why we run deficits.

There is economic reason to care less for tax revenues and more for spending to deal with some economic fault, but there are other times that a focus on tax revenues and consideration for less deficit spending is needed. Our issue is Republicans nor Democrats really care about economics and are way too interested in treasury promises in exchange for a vote. It is one of the few bipartisan standards of operation that we have left, meaning corruption and personal again in total absence of economic reason.

 

[mrjurrs]

Oh, no, the myth that it is only the Democrats who are the big spenders is a very durable myth. It is still believed by a large percentage of the voters even though anyone with one eye and half a brain can see that it is false.

Don't get me wrong: I'm not saying that Democrats aren't big spenders, only that Republicans are just as fiscally irresponsible as Democrats.

Dems are fiscally irresponsible for people, Reps are fiscally irresponsible for corporations.

 

[SmartCat]

Stop listening to crap.

Biden Misleads on Top 1% Tax Rate - FactCheck.org

The one percent still pay far less than I think they should.



Keep in mind that the chart I am posting includes all taxes, not just income taxes.

 

[Dittohead not!]

Dems are fiscally irresponsible for people, Reps are fiscally irresponsible for corporations.

Corporations are people.

So say the so called "conservatives."

 

[ttwtt78640]

The one percent still pay far less than I think they should.

View attachment 67264610

Keep in mind that the chart I am posting includes all taxes, not just income taxes.

I will also keep in mind that taxes not based on income are being presented as if they were (in relation to income). Using that "logic" then a hamburger, trip to the doctor or gallon of gasoline is much more costly (5X as much?) to someone making $50K/year than to someone making $250K/year.

 

[WCH]

We should be solving simple poverty to increase market participation and tax revenue.

We, as a nation, have spent in excess of $22 trillion since the WOP began. The percentage of those in poverty has not changed in 50 years.

Seems there's just part of the population who is dependent on the government and charity for their existence.

 

[Dittohead not!]

We, as a nation, have spent in excess of $22 trillion since the WOP began. The percentage of those in poverty has not changed in 50 years.

Seems there's just part of the population who is dependent on the government and charity for their existence.

Looks like you're right. In fact, the percentage of Americans in poverty went down before the WOP started in '65, but has been pretty flat since then.

What is the solution, then?

 

[WCH]

Looks like you're right. In fact, the percentage of Americans in poverty went down before the WOP started in '65, but has been pretty flat since then.

What is the solution, then?

Instilling a work ethic? Shut off the tit?

You?

 

[Dittohead not!]

Looks like you're right. In fact, the percentage of Americans in poverty went down before the WOP started in '65, but has been pretty flat since then.

What is the solution, then?

Instilling a work ethic? Shut off the tit?

You?

It is not a simple problem, and so won't yield to any simplistic solution. "Shut off the tit?" Well, didn't Clinton try that already? Whatever happened to the "workfare" program? Instilling a work ethic? That's easier said than done. A work ethic is generally learned from the parents. If they have no work ethic, then they'll pass that on to their kids as well.

I see people riding around on bicycles collecting cans and bottles to recycle. They're working pretty hard for very little return. Then, there are the people, mostly illegals, picking crops. They, too, work hard for very little return. Send them home, and you leave a vacuum, making it difficult to get crops picked. So, make the people currently getting welfare to go pick peaches? Lots of luck with that. They'd starve first, no, make that steal.

The general rule needs to be that people who work have it better than people who don't, and that everyone has a chance to do useful work. Accomplishing that goal is never easy, but we're currently going the other direction.

 

[WCH]

It is not a simple problem, and so won't yield to any simplistic solution. "Shut off the tit?" Well, didn't Clinton try that already? Whatever happened to the "workfare" program? Instilling a work ethic? That's easier said than done. A work ethic is generally learned from the parents. If they have no work ethic, then they'll pass that on to their kids as well.

I see people riding around on bicycles collecting cans and bottles to recycle. They're working pretty hard for very little return. Then, there are the people, mostly illegals, picking crops. They, too, work hard for very little return. Send them home, and you leave a vacuum, making it difficult to get crops picked. So, make the people currently getting welfare to go pick peaches? Lots of luck with that. They'd starve first, no, make that steal.

The general rule needs to be that people who work have it better than people who don't, and that everyone has a chance to do useful work. Accomplishing that goal is never easy, but we're currently going the other direction.

Unemployment is down for minorities and women. Illegals, at least those here in TX are making great money because of the economy. Yet we still have a horrible homeless problem.

I stand on the dependency and mental illness faults.

 

[jaeger19]

The DEM candidates don't need to point to Obama or Clinton. They need to point to Trump and the Republicans who passed this ridiculous tax cut, which has our deficit over $1 Trillion in only 11 months. They are fools for not capitalizing on the folly of the Republican fiscal policy.

Okay.. think about how that plays out for the average voter.

Biden: Trump was wrong to give a tax cut.

Average voter:..."hey I benefited from that tax cut. I don't like that guy"

Biden: We need to watch the deficit..thats terrible. By the way.. I am proposing another trillion in infrastructure building".

Average voter: "wait.. he doesn't think we should spend more money.. and now he wants to spend more money"?

 

[Vadinho]

Okay.. think about how that plays out for the average voter.

Biden: Trump was wrong to give a tax cut.

Average voter:..."hey I benefited from that tax cut. I don't like that guy"

Biden: We need to watch the deficit..thats terrible. By the way.. I am proposing another trillion in infrastructure building".

Average voter: "wait.. he doesn't think we should spend more money.. and now he wants to spend more money"?

If the solid conservative base that created the massive backlash against Obama during the financial crisis really gave a damn about deficits, why are they now so silent about the massive deficits Trump created in a booming market? Are these people so concerned about a tax cut that they forgive deficits? Well then why did they say Obama was a spendthrift when he also gave these same voters a massive tax cut as part of the stimulus? Sorry but a conservative giving us advice about taxes and deficits is a hard thing to hear. Trump bought these people off, they come cheap. All you have to do is give them a few bucks and call Mexicans rapists and blacks welfare cheats. They forget their fiscal conservatism really fast once they hear that story.

 

[Dittohead not!]

Unemployment is down for minorities and women. Illegals, at least those here in TX are making great money because of the economy. Yet we still have a horrible homeless problem.

I stand on the dependency and mental illness faults.

I'm sure that's a part of it at least.

Dependency? How is allowing people to be homeless fostering dependency? Dependency is for people in government housing and collecting government money.

Mental illness is a huge problem that no one is addressing to any great degree. Many of the homeless are mentally ill. Add to that substance abuse, and you have the reason for probably 99% of the homelessness in this nation.

 

[Dittohead not!]

Okay.. think about how that plays out for the average voter.

Biden: Trump was wrong to give a tax cut.

Average voter:..."hey I benefited from that tax cut. I don't like that guy"

Biden: We need to watch the deficit..thats terrible. By the way.. I am proposing another trillion in infrastructure building".

Average voter: "wait.. he doesn't think we should spend more money.. and now he wants to spend more money"?

Didn't Trump propose a trillion dollars in infrastructure building?

Seems like a necessary expenditure, but where is the money coming from? Estimating a hundred million taxpayers, including couples filing jointly of course, that works out to ten grand each.

 

[MTAtech]

Didn't Trump propose a trillion dollars in infrastructure building?

Seems like a necessary expenditure, but where is the money coming from? Estimating a hundred million taxpayers, including couples filing jointly of course, that works out to ten grand each.

There is no infrastructure program. Broken promise.
But on the topic of paying, that is a valid reason to borrow— especially at low interest rates.

 

[Dittohead not!]

There is no infrastructure program. Broken promise.
But on the topic of paying, that is a valid reason to borrow— especially at low interest rates.

That would be similar to borrowing money to fix up a house. It would pay dividends in the end. What we've done is more like putting the debt on a credit card with nothing to show for it.

 

[Jay59]

There is no infrastructure program. Broken promise.
But on the topic of paying, that is a valid reason to borrow— especially at low interest rates.

That one is on Nancy. He offered. She refused to even talk.

The interest just on Obama's years exceeds $125 Billion.

 

[OrphanSlug]

We keep dancing around the point.

There was no economic reason to hand out a tax break at this point in the economy. If the economy was all that “great, great” then the only reason to hand out a tax break was a political treasury promise in exchange for a vote.

If we were paying attention at all to economics 101 then a “great, great” economy should not produce fiscal policy needing increasing deficits.

But Trump and Republicans in the 115th Congress did that anyway, and literally harmed our fiscal position headed into the next recession since it is taking record treasury auctions just to keep up.

Republicans and/or any Trump supporter here just lost any and all future claims to “fiscal responsibility.”

 

[MTAtech]

That one is on Nancy. He offered. She refused to even talk.

The interest just on Obama's years exceeds $125 Billion.

It was actually far more than $125 billion. But yes, when you borrow money you pay interest. What's your point?

This is the current interest chart. Yes, interest alone will be $700 billion by 2024.

Trump came in an said he had a infrastructure program. His party controlled government from Jan 1, 2017 to Jan 2019 and could have passed whatever infrastructure program he wanted. Stop trying to shift blame to Pelosi.

 

[MTAtech]

We keep dancing around the point.

There was no economic reason to hand out a tax break at this point in the economy. If the economy was all that “great, great” then the only reason to hand out a tax break was a political treasury promise in exchange for a vote.

If we were paying attention at all to economics 101 then a “great, great” economy should not produce fiscal policy needing increasing deficits.

But Trump and Republicans in the 115th Congress did that anyway, and literally harmed our fiscal position headed into the next recession since it is taking record treasury auctions just to keep up.

Republicans and/or any Trump supporter here just lost any and all future claims to “fiscal responsibility.”

There was a reason...
House Republican: my donors told me to pass the tax bill “or don’t ever call me again” - Vox

 

[Dittohead not!]

It was actually far more than $125 billion. But yes, when you borrow money you pay interest. What's your point?

This is the current interest chart. Yes, interest alone will be $700 billion by 2024.

Trump came in an said he had a infrastructure program. His party controlled government from Jan 1, 2017 to Jan 2019 and could have passed whatever infrastructure program he wanted. Stop trying to shift blame to Pelosi.

He also said he would start to pay down the debt.
In fact, he said a lot of things that didn't happen.


When all is said and done, a lot more is said than is done.

 

[yankintx]

If the economy is so good, the defecit should be shrinking. Oh wait, we gave the top 1% tax breaks thus the Feds are bringing in less funds to reduce the massive debt. If we are not reducing the defecit now, it sure wont happen at the next economic downturn.

 

[OrphanSlug]

There was a reason...
House Republican: my donors told me to pass the tax bill “or don’t ever call me again” - Vox

Okay, I stand corrected... we’ll drop the economic part and say there was a reason... the donors wanted their treasury promise.

 

[Drawdown]

We keep dancing around the point.

There was no economic reason to hand out a tax break at this point in the economy. If the economy was all that “great, great” then the only reason to hand out a tax break was a political treasury promise in exchange for a vote.

If we were paying attention at all to economics 101 then a “great, great” economy should not produce fiscal policy needing increasing deficits.

But Trump and Republicans in the 115th Congress did that anyway, and literally harmed our fiscal position headed into the next recession since it is taking record treasury auctions just to keep up.

Republicans and/or any Trump supporter here just lost any and all future claims to “fiscal responsibility.”

Eh they probably thought it would work as opposed to it just being some payola scheme for the wealthy. As I have posted previously, I am pretty sure we are kind of glued into a liquidity trap right now. Velocity is just awful and has been for a long time.