View Poll Results: What is (are) the best way(s) to eliminate the deficit?

Voters
97. You may not vote on this poll
  • A balanced budget amendment

    24 24.74%
  • A line item veto amenndment

    17 17.53%
  • replace income tx with a national retail sales tax

    10 10.31%
  • Raise taxes on the rich

    40 41.24%
  • Raise taxes on the middle-class

    7 7.22%
  • Raise taxes stealthily in the form of fees, a federal lottery, etc.

    4 4.12%
  • Nationalize oil and natural gas on federal land and get into the enegry business like Saudi Arabia

    11 11.34%
  • Cut federal spending

    66 68.04%
  • Sell services to prizate industry at a profit, privatize then tax them

    4 4.12%
  • other

    26 26.80%
Multiple Choice Poll.
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Thread: What's the best way to reduce the deficit?

  1. #71
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by cpwill View Post
    Reform entitlements to bring down spending.
    Yes.

    Simplify the tax code and cut nominal rates to increase revenue.
    Kill it with fire! If there's anything that the government doesn't need it's more revenue.

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  2. #72
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    Re: What's the best way to reduce the deficit?

    Spending cuts need to be the largest factor, we are spending far too much and it isn't sustainable. Tax increases would be foolish in my opinion. I would support eliminating some tax loopholes, but not increasing taxes on anyone (especially during an economic downturn). First and foremost though, there needs to be drastic spending cuts.
    When the debate is lost, slander becomes the tool of the loser. -Socrates
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  3. #73
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by digsbe View Post
    , there needs to be drastic spending cuts.

    How many decades have we heard that? How many politicians have cried that?

    For years now politicians of both parties have been Sandusking us. Then they retire from office and with the crazy luck of landing a job as a lobbyist with a corporation they helped and so it goes on and on.

  4. #74
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by code1211 View Post
    Every time you tamper with something, you change it. The government imposed a luxury tax which included Yaught builders and the taught builders went out of business as the taught buyers got their boats from Canadian builders.

    If I was elected President tomorrow, I would immediately reduce spending in all departments and programs to the levels they received in 2008. If the program or department didn't exist in 2008, it would cease to exist today.

    I don't know where you live. Between the Fed income tax, the state income tax, the property tax and all of the sales and use taxes, I am well over 20% of my income.

    "Entitlements, welfare and social security..." Entitlements and Welfare may be needed but are not on the same page as Social Security which is a social contract. Over the course of my career, i've probably paid in the equivalent of about a quarter million dollars. If I had been allowed to contribute this to a 401K type investment, I'd have about 2 or 3 million right now.

    Whether it is as a nation or as an individual, the way to reduce debt is to reduce spending to less than income and pay off the debt with the excess. Loaves and fishes have nothing to do with it.
    Yep. You make a VERY valid point when comparing US taxation to "other countries". These "other countires" have ONE tax, and it is national ONLY, and comparing that to 3 (or more) taxing layers of gov't (fed, state, county, city and local) is an apples to moonrocks comparison. Spending on national defense is WAY too high, as most of that spending is simply PORK to get (and keep) all of DC on that gravy train. The "equating" of welfare and SS is INSANE, one is a program that rewards out of wedlock childbirth, dropping out of school and generally being worthless, the other is a reward for having worked your entire life (while paying taxes) and ONLY THEN getting a benefit based on the amount that YOU contributed, IFF you actually live that long (or become disabled).
    Last edited by ttwtt78640; 07-14-12 at 01:38 PM.
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  5. #75
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by Phoenix View Post
    How to eliminate the deficit? well, Quit spending more money than we have in revenues.

    How about pass a budget?

    But first we have to get some people to quit pushing the assine concept that tax cuts increase the deficit. It's obviously untrue and anyone who says it is insincere or ignorant. The only way to make a deficit is to SPEND money. Until we can all decide on that part, it's a lost cause.
    No, it is not obviously untrue. A budget deficit is the difference between income (receipts) and expenditures. You can widen the deficit by reducing income or increasing expenditures or any combination thereof. You can lower deficits by doing the opposite.

    http://en.wikipedia.org/wiki/Deficit

    Your statement that cutting taxes does not increase the deficit is arguable; it is very, very far from axiomatic, which you imply. While its ok to hold the position that reducing taxes does not affect the deficit, you have to recognize that it is only a position. Given, that the statement is contrary to logic (reducing taxes acts first to reduce receipts and therefore widen the deficit) the burden of proof is on you to support that statement.

    What is insincere and ignorant is thinking you can just make such a broad statement, pound your chest and think you have the truth. You are trumpeting a belief system that is in the minority and frankly illogical, its really up to you to support your claim. Good luck, however, as there is very little to no evidence supporting this assertion.

    Please honor the intelligence of other people on this forum and step up your game with intelligent comments and evidence supporting your statements. You can help yourself here by presenting the work of an established economist. If you can not do this then stick to posting things you know something about.
    Last edited by upsideguy; 07-14-12 at 02:00 PM.

  6. #76
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by upsideguy View Post
    No, it is not obviously untrue. A budget deficit is the difference between income (receipts) and expenditures. You can widen the deficit by reducing income or increasing expenditures or any combination thereof. You can lower deficits by doing the opposite.

    Deficit - Wikipedia, the free encyclopedia

    Your statement that cutting taxes does not increase the deficit is arguable; it is very, very far from axiomatic, which you imply. While its ok to hold the position that reducing taxes does not affect the deficit, you have to recognize that it is only a position. Given, that the statement is contrary to logic (reducing taxes acts first to reduce receipts and therefore widen the deficit) the burden of proof is on you to support that statement.

    What is insincere and ignorant is thinking you can just make such a broad statement, pound your chest and think you have the truth. You are trumpeting a belief system that is in the minority and frankly illogical, its really up to you to support your claim. Good luck, however, as there is very little to no evidence supporting this assertion.

    Please honor the intelligence of other people on this forum and step up your game with intelligent comments and evidence supporting your statements. You can help yourself here by presenting the work of an established economist. If you can not do this then stick to posting things you know something about.


    I don't know if we have the wiggle room to cut taxes right now. We may be at the other end of the Laffer Curve.

    What might be a big help is if the Feds stopped suing people like Boeing for Creating Jobs or shutting down Gibson Guitars for creating jobs or running oil rigs out of the Gulf on a whim or similar anti business moves.

  7. #77
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by code1211 View Post
    [...] What might be a big help is if the Feds stopped suing people like Boeing for Creating Jobs or shutting down Gibson Guitars for creating jobs or running oil rigs out of the Gulf on a whim or similar anti business moves.
    We both know it would not be a big help, but I'm sure it felt good to get that off your ideological chest

  8. #78
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by code1211 View Post
    That's an uninspired view. The best way to lose a fight is to give up.

    The productivity in business is not measured in widgets per hour, but in widgets per dollar. We don't need to decrease what we pay workers if we can figure out how to make our workers' work count for more.
    A cheaper widget is not necessarily a better widget. In fact, it can be worse.

    Quote Originally Posted by code1211 View Post
    In the case of the auto industry, we were once able to out automate the competition. Now the competition is as automated as we are. Only at this point do we ask, "If their guys are doing exactly the same hi-tech work as our guys and doing it, but at half the wage rate, are we overpaying?"
    In the case of the auto industry a few decades ago, the American engineers were designing a shoddy product (to save money) while the Japanese engineers designed a quality product (at a slightly higher cost). The rest is history. Wages were not an issue.

    Quote Originally Posted by code1211 View Post
    The better way to compete is the way Apple does. Better products and better ideas.
    True, but even Jobs succumbed to the capitalist disease (as if he hadn't a long time ago, screwing Wozniak -- the brains of the operation -- here and there), recently bragging how Chinese indentured servant assembly line workers can be woken up in the middle of the night to effect last minute engineering changes.

  9. #79
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by code1211 View Post
    [....] Whether it is as a nation or as an individual, the way to reduce debt is to reduce spending to less than income and pay off the debt with the excess. Loaves and fishes have nothing to do with it.
    Do you live in that conservative universe where increasing income is a mathematical impossibility?

  10. #80
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    Re: What's the best way to reduce the deficit?

    Quote Originally Posted by digsbe View Post
    Spending cuts need to be the largest factor, we are spending far too much and it isn't sustainable. [...]
    Says who, and compared to what?

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