• This is a political forum that is non-biased/non-partisan and treats every persons position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

What if Obama suddenly became a conservative...

imagep

Villiage Idiot
DP Veteran
Joined
May 7, 2010
Messages
24,399
Reaction score
10,426
Location
Upstate SC
Gender
Male
Political Leaning
Independent
Now lets say that Obama magically became an extreme conservative. Lets say he reduced government spending by 75% instantly - immediately balancing the budget and leaving extra funds left over to reduce the federal debt. Lets say that half of all government workers were fired. Lets say that another 10% of private sector jobs were lost due to the reduction in government spending. Lets say that all the unused spendulous money and all the unused TARP money was returned to the Fed and distroyed, thus lowering our federal debt. Lets say that we immediately ended capital gains tax and the death tax and income tax and replaced all of that stuff with a 30% sales or VAT tax.

At this particular time, with this particular recession, what would happen?

From my viewpoint in my particular situation, as a small business owner, this is what would happen to me:

1) I would save about $10k a year in federal income taxes.

2) My customer base would be reduced by the additional unemployment and reduced government spending.

3) The products that I produce would become more expensive to the final consumer (due to the consumption tax) thus I would likely sell fewer products.

4) The products that I consumer would become more expensive due to the consumption tax thus I would likely purchase fewer products.

5) Between lower sales and increased living expenses I would probably not be able to continue paying for my business debt. If I defaulted on my business obligations I would loose my livelyhood, if I lost my livelyhood I would then be forced to default on my personal debt.

6) The banks would suffer significant losses from my defaults.

So step by step, what would happen to you in your particular situation at this particular point in time?
 

dontworrybehappy

Banned
DP Veteran
Joined
Oct 17, 2009
Messages
3,928
Reaction score
1,559
Gender
Male
Political Leaning
Libertarian
I would say I slept very well because that's a dream so far fetched I could only see it while enjoying deep REM sleep.
 

ReverendHellh0und

I don't respect you.
DP Veteran
Joined
Sep 13, 2007
Messages
79,903
Reaction score
20,981
Location
I love your hate.
Gender
Male
Political Leaning
Libertarian
Racist.

1234567890



7yFPFC4Vhdr0dpf9pndF8Owr_400.jpg
 
Top Bottom