22 Apr 11
Originally posted by normbenignWith tax rates at historic lows, it's not a suprise the deficit is so high. Exploding payouts is an overstatement. Cuts need to be made in spending of course, but without sufficent tax revenue the cuts are only a half step.
http://sweetness-light.com/archive/govt-handouts-now-exceed-tax-income
Fewer households paying taxes, combined with exploding payouts. Is our nation at a tipping point, where those demanding more handouts, can effectively vote themselves the property and earnings of others?
22 Apr 11
Originally posted by bill718Historically, tax revenues fluctuate between 15 and 20% of GDP. That includes taxes actually paid, accounting for all methods of avoidance. Currently we are near the high end of that. The graph shows that payouts exceed revenues. This doesn't include defense, or the many bureaucracies, etc. Only the payouts to American households, including Soc. Security, unemployment, Medicare, Medicaide, individual and corporate welfare, including EITC.
With tax rates at historic lows, it's not a suprise the deficit is so high. Exploding payouts is an overstatement. Cuts need to be made in spending of course, but without sufficent tax revenue the cuts are only a half step.
We have a spending problem, not a revenue problem. Congress has amply proven, it doesn't matter how much revenue they get. If we send it, they'll spend it.
22 Apr 11
Originally posted by bill718Take at a look at the chart and note that the red line is not at a historic low, but the blue line is at a historic high.
With tax rates at historic lows, it's not a suprise the deficit is so high. Exploding payouts is an overstatement. Cuts need to be made in spending of course, but without sufficent tax revenue the cuts are only a half step.
22 Apr 11
Originally posted by normbenignYou conservative radical extermist you. Every last cent Congress spends is needed to prevent people from dying in the streets. No doubt, you want the elderly starving without their social security and the sick dying without medical care. Its just too bad that we must destroy the country fiscally to prevent these things from happeing. Oh well, more is the pity, but it simply has to be done!! ðŸ˜
We have a spending problem, not a revenue problem. Congress has amply proven, it doesn't matter how much revenue they get. If we send it, they'll spend it.[/b]
22 Apr 11
Originally posted by normbenignYeah, no one can remember the US government last running a surplus. It was as far back as a decade ago.
Historically, tax revenues fluctuate between 15 and 20% of GDP. That includes taxes actually paid, accounting for all methods of avoidance. Currently we are near the high end of that. The graph shows that payouts exceed revenues. This doesn't include defense, or the many bureaucracies, etc. Only the payouts to American households, including Soc. Secu ...[text shortened]... amply proven, it doesn't matter how much revenue they get. If we send it, they'll spend it.
22 Apr 11
Originally posted by KazetNagorraSorry but you are badly misinformed. For about two quarters the budget showed a surplus, which over ten years would have been 1 trillion. By the end of that fiscal year the US Debt had increased. You do understand that a budget is a projection, whereas revenue and expenditures are real cash.
Yeah, no one can remember the US government last running a surplus. It was as far back as a decade ago.
The Obama administration is showing projected deficits of 1.5 trillion per year, and in just over two years has amassed more debt than the 43 Presidents before him combined.