If Reagan never started cutting taxes

@AverageJoe1 said
It is a suggested One Percent tax. Why do you say 'One penny per dollar'? Be honest, what is your purpose in not talking in economic terms.
In all meetings about this at the higher levels, non one will ever say the faerie phrase "One penny per dollar'. Is it meant to sound like peanuts? OF course it is, and that is why you soften your post.
But you don't fool AvJoe!!!!

One percent here one percent there ....adds up

Look Joe, I see the lot of you coming on here like "this won't work and "that won't work" all day long, but when asked to provide your own solution to the question: Where does the US government come up with an extra $40 trillion? .... you start talking about foreign aid or some garbage that's like 1/10,000 of the way to solving this, and the same lot of you are also still supporting all the massive spending programs being implemented at the same time. You're standing at the edge of giant reservoir that's constantly getting filled up with dumptrucks on one end and you're using a 5 gallon bucket to remove the water and acting like you're doing something to solve the problem.

Grow up. There's no way to solve this without either a) massive cuts to medicare and the military, b) increased taxation, or c) both.

@wildgrass said
No not really adding here. We're trying to fill in the $2 trillion deficit and $40 trillion debt with some money from someone.

Let's assume you have $40 million. You pay nothing in extra taxes.

Now let's assume you are a hedge fund manager with $500 million in wealth. In a bad year in the market, you could easily turn that into $50 million profit, right? With the 1% w ...[text shortened]... ill get richer, just slightly more slowly, the budget deficit goes away, its a win-win for everyone.

You are correct of course, and we would hope that the legislators would allocate that $40M properly. But mind you, that you fellers have a penchant for using such money to pay off personal loans of people who, according to Natural Law and according to no provisions of such foolishness in the Constitutinon, people who should be self reliant and pay their own debts. If you promise to do it right, I am all for a bit more taxes paid by everyone. I got 1%.
Promise not to pay off debts of citizens. can you do that???

@wildgrass said
Look Joe, I see the lot of you coming on here like "this won't work and "that won't work" all day long, but when asked to provide your own solution to the question: Where does the US government come up with an extra $40 trillion? .... you start talking about foreign aid or some garbage that's like 1/10,000 of the way to solving this, and the same lot of you are also still s ...[text shortened]... this without either a) massive cuts to medicare and the military, b) increased taxation, or c) both.

But there ARE other ways. Tell everyone who has increased their debt to pay off the debt and leave govt the hell out of it. Except for the 50M indigent, tell them to eat their problems. This is to cancel free stuff, welfare, etc. Look at the domestic problems, and fix them. No more free stuff. Continue to get rid of illegals, ICE just announced today a successful hit where they got rooms full of them! Murderers, the works. Also, Trump should stip dragging his heels and act on Iran, which is getting expensive. They are savages, treat them as such.
Then go for too many empoiyees in fed govt (Oh, trump already fired 250k of them, maybe that will give you and idea?) Fire People, cut back. Then stop stuff like they did USAID and stop the many millions going to all those countries. No one sends us money.

@AverageJoe1 said
But there ARE other ways. Tell everyone who has increased their debt to pay off the debt and leave govt the hell out of it. Except for the 50M indigent, tell them to eat their problems. This is to cancel free stuff, welfare, etc. Look at the domestic problems, and fix them. No more free stuff. Continue to get rid of illegals, ICE just announced today a successful hit ...[text shortened]... like they did USAID and stop the many millions going to all those countries. No one sends us money.

Dude, we've already been down this road. USAID is already gone. Those workers already fired. You're bragging about all the stuff that Trump cut and they're still spending a LOT more money than Biden ever did. They're cutting the tiniest piece of the pie, while at the same time ramming a huge piece of new pie in the other end.

Cut Medicare, that'll have an impact. Cut Pentagon spending, that'll have an impact. If you cut everything else out of government (cut ICE, cut NIH, cut DOE, cut FBI/CIA/NSA, cut IRS, make all their budgets $0) except those two things then you'll still be running a deficit without any new taxes.

@wildgrass said
Dude, we've already been down this road. USAID is already gone. Those workers already fired. You're bragging about all the stuff that Trump cut and they're still spending a LOT more money than Biden ever did. They're cutting the tiniest piece of the pie, while at the same time ramming a huge piece of new pie in the other end.

Cut Medicare, that'll have an impact. Cut Pen ...[text shortened]... ir budgets $0) except those two things then you'll still be running a deficit without any new taxes.

Yeah, look at your itemized cuts. Get rid of ICE? Just today we hear this...

YouTube


Tell us what these slime would have done if they were still running free in America. So , get rid of ICE. You into border opening as well? Youve never said you aren't. You into getting rid of two branches o govt, and let congress be a Politbureau?? And you want to slash medicare.....can I not have my private healthcare insurance? It is available to everyone.

Yes,I did say 'Like they got rid of USAID'. Your buddy Stillhouse seems to want to spend all that money though......don't upset your mates on the Forum!

@AverageJoe1 said
Yeah, look at your itemized cuts. Get rid of ICE? Just today we hear this...

https://www.youtube.com/watch?v=Hv0RsohRFC8


Tell us what these slime would have done if they were still running free in America. So , get rid of ICE. You into border opening as well? Youve never said you aren't. You into getting rid of two branches o govt, and let congress be a Po ...[text shortened]... to slash medicare.....can I not have my private healthcare insurance? It is available to everyone.

The point is not get rid of ICE. The point is that if you got rid of everything except Medicare and Defense spending, which would undoubtedly lead to chaos, financial ruin and loss of basic services, and you STILL don't have enough money to fund the government without going into deficit.

And you still wanna talk about dropping USAID, an agency with has already been dropped? You aren't even close to having a reasonable expectation of what it would take to balance the budget without raising taxes. You're hopelessly childish in your thinking on this.

https://www.crfb.org/blogs/what-would-it-take-balance-budget

@kmax87 said
So why dont they leave? Where would they go?

i am sure all those billionaires will move to Kansas City. Or Des Moines. Or Boise 😀

Get that Boise social scene, the parties, the theater/opera productions, the "who's who of who?"

@kmax87 said
Ive often wondered about the impact cutting taxes has had on the American economy and their level of debt in general. It seems Reagan definitely started a process whereby each succeeding government pledged to lower taxes.

So if lowering taxes had not become a bipartisan promise, I would like to know if America would ever have accumulated as much debt? You only need to deficit spend when you spend more than you raise. Why not simply raise more revenue?

The US ran budget surpluses in the late 90's, so blaming this on Reagan is contrived.

In the Bush-Gore election of 2000, when the US was running budget surpluses, BOTH parties/candidates acted like the budget surpluses were burning holes in their pockets. Bush/GOP were screaming lower taxes and Gore/Dems were screaming more social spending. The same basic thing has been going on since.

The days of responsible politicians on the issue of national debt are over.Maybe not forever, but for now.

@wildgrass said
This is a dumb myth that's been debunked and you keep thinking it's true.

Very few billionaires are going to uproot their family and lives and leave their home and neighborhood and friends and business in order to move to a state like Florida where they wrestle alligators on Tuesdays just because of a few percentage points in income tax relief. Of course there are a few ...[text shortened]... tical debates. [/quote]
https://www.vitalcitynyc.org/mamdani-tax-increase-millionaire-exodus-fears/

Exactly if you have arrived and live on the upper East side, why would you move to Florida of all places?

@kmax87 said
So why dont they leave? Where would they go?

I should like to point out that simply leaving the US does not absolve US citizens of US tax liability. The USA, almost uniquely in the world, taxes US citizens no matter where they live in the world.

'But what if they leave and abjure their US citizenship?' The USA, uniquely in the world, can tax ex-US citizens, no matter where they live in the world, for up to ten years, if the IRS suspects that the person abjured US citizenship in order to evade taxes.

I have personal experience of this, having abjured US citizenship.

Trump is lying when he says that if he raises taxes on the rich, they will leave.

@AverageJoe1 said
But there ARE other ways. Tell everyone who has increased their debt to pay off the debt and leave govt the hell out of it. Except for the 50M indigent, tell them to eat their problems. This is to cancel free stuff, welfare, etc. Look at the domestic problems, and fix them. No more free stuff. Continue to get rid of illegals, ICE just announced today a successful hit ...[text shortened]... like they did USAID and stop the many millions going to all those countries. No one sends us money.

And now we see the violence inherent in YOUR system.

@AverageJoe1 said
Yeah, look at your itemized cuts. Get rid of ICE? Just today we hear this...

https://www.youtube.com/watch?v=Hv0RsohRFC8


Tell us what these slime would have done if they were still running free in America. So , get rid of ICE. You into border opening as well? Youve never said you aren't. You into getting rid of two branches o govt, and let congress be a Po ...[text shortened]... dy Stillhouse seems to want to spend all that money though......don't upset your mates on the Forum!

And YOU would rather kill 14 million Africans.

@sh76 said
The US ran budget surpluses in the late 90's, so blaming this on Reagan is contrived.

In the Bush-Gore election of 2000, when the US was running budget surpluses, BOTH parties/candidates acted like the budget surpluses were burning holes in their pockets. Bush/GOP were screaming lower taxes and Gore/Dems were screaming more social spending. The same basic thing has been going ...[text shortened]... ys of responsible politicians on the issue of national debt are over.Maybe not forever, but for now.

Alas you rewrite history calling this a both party problem.

The US was running a SMALL surplus in 1999 because of a sustained effort to cut government spending and raise taxes. What then happened between 2001-2003? Massive new government spending programs championed by Republicans, the addition of new government agencies, an expansion of Medicare, all coinciding with two large tax cuts that Democrats voted against, and zero effort or discussion from Republicans of how to pay for any of it. In fact, they were laughing behind closed doors that Reagan proved that voters don't care about deficit spending anymore.

In other words, Republican Voodoo Reaganomics continued after Reagan. George Bush undid all the work done in the 90's to fix Reagan's reckless tax cuts.

@kmax87 said
Exactly if you have arrived and live on the upper East side, why would you move to Florida of all places?

There are a few dozen news articles ghost-written by billionaires online that Mott et al. keep referencing that make absolutely no sense. Conveniently, the billionaires own all the consolidated news outlets now. They keep arguing "tax us less or we will leave" and the dumb conservatives all say ok. Deficits go up and up and we keep cutting their taxes.

@Zahlanzi said
i am sure all those billionaires will move to Kansas City. Or Des Moines. Or Boise 😀

Get that Boise social scene, the parties, the theater/opera productions, the "who's who of who?"

All of those places are actually very nice. But yes, of course the billionaires won't move there just because their tax burden went up slightly.