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Thread: We Have a Spending Problem

  1. #91
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    Re: We Have a Spending Problem

    Quote Originally Posted by MTAtech View Post
    A large part of federal spending is Social Security and Medicare. So, it is appropriate to count the revenue collected from the bottom 50% as government revenue. Conversely, the top 0.1% pay almost nothing toward Medicare and Social Security.
    A large part of revenue is payroll tax which pays for that spending, thus its appropriate to cancel it out and ignore. Furthermore, the top .1% pay more than most everyone else towards social security. The average salary is about 40k. Thus their payroll tax contribution is about $3800. The top .1 % caps out at about 120k, thus their contribution is about 8000. So thats TWICE as much as the average person is paying for social security. And the benefit is relative to whats paid in, so its the most fair program out there.

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    Re: We Have a Spending Problem

    Quote Originally Posted by MTAtech View Post
    As Helix said, these are long-term promises. We employees pay into Social Security and Medicaid and the government promises to provide us with monthly payments and health care when we retire.

    What the Republicans want to do is steal keep all the contributions paid in by workers and then shave the benefits. Why? Because Republicans are addicted to giving their rich donors tax-cuts -- so reducing outlays makes it easier to cut their taxes and to hell with the needs of the working class.

    Members of the working class, who have any brains, should feel rightly betrayed by Trump, who vowed not to cut Social Security, Medicare or Medicaid -- but whose budget cuts all three. Now you know what a Trump University student feels like.
    No govt service is a promise except whats written in the constitution. Federal Code of Laws change. During your lifetime of paying in the amount you pay in, the benefit you receive compared to when you started, will have changed, usually it increases. For example

    -cost of living adjustments in 1972
    -lower retriement age in 1961
    -changes in earnings quals in 2000
    -taxing benefits in 1984

    All changes made to the promise, which is thus not a promise.

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    Re: We Have a Spending Problem

    Quote Originally Posted by Critter7r View Post
    A 30-year Treasury purchased in 1996 would have lost about 1.8 points from its 6-7% yield to inflation alone.

    $1,000 in 1996 is worth $1535 in 2016. $535 divided by 30 years is $17.83. $17.83 per $1,000 equals 1.78% Yield. The Yield rates in 1996 were between 6-7%. On average over the life of the Treasury, the purchaser would have been paid about $65 per $1,000, but $18 of it evaporated due to inflation, so we were really only paying $47 each year. So about 27% of the yield of those 1996 Bonds is paid for us by inflation, because we were paying back the principal with inflated dollars each year.
    But its still being paid. By taxes. Money that could go back in my pocket or reduce borrowing.

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    Re: We Have a Spending Problem

    Quote Originally Posted by jonny5 View Post
    But its still being paid. By taxes. Money that could go back in my pocket or reduce borrowing.
    Correct. I just wanted to show that there's a mitigation factor for debt caused by inflation.
    I'm not going to chase you while you run around with the goalpost in your arms.

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    Re: We Have a Spending Problem

    Quote Originally Posted by jonny5 View Post
    No, you havent earned them. There is no legal contract that you are entitled to anything until you qualify for the benefit. All laws and programs and services can change at any time according to the whim of the people.
    https://www.debatepolitics.com/gover...post1068170440

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    Re: We Have a Spending Problem

    Quote Originally Posted by upsideguy View Post
    There can be a stimulus effect to a tax cut, but one does not try to stimulate a full employment economy with fiscal tools as it can lead to overheating of the economy with consequences that may include interest rate hikes, cost increases, inflation... and perhaps recession.
    we have a full employment low wage economy after liberals shipped so many jobs off shore and invited in 30 million illegals to bid down our wages so we are in the odd position of still needing to stimulate. Do you understand?
    to raise wages

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    Re: We Have a Spending Problem

    Quote Originally Posted by jonny5 View Post
    So, another way to look at it is, we have more than enough general revenue (2100bn) to pay for all the main functions of govt (1200bn), and enough payroll taxes (1200bn) to pay for Social Security and Hospitals (1200bn), and even a little left over (900bn) to pay for Veterans, Federal Pensions, and interest, but we have to borrow to pay for welfare.
    Oh jonny, what happened to you man. You used to get mad when people who never talked about balancing the budget didn't balance the budget.

    Quote Originally Posted by jonny5 View Post
    So there you go, Obama has no interest in balancing the budget. And that is wrong, and nothing can be done about it except voting out congress in 2 years.
    Now you have people who talked about balancing the budget making the deficit worse. And you voted for them to balance it. Don't you feel foolish? Well at least you don't believe President Obama added a trillion to bush's last budget deficit in 2009 anymore. You don't believe that right? right!?
    Quote Originally Posted by RetiredUSN View Post
    and I turn down more work than I accept to avoid hiring Americans.
    Quote Originally Posted by Lord of Planar View Post
    What proof is there Qaddafi ordered or financed that bombing? ......Qaddafi had the integrity to fight with his military. I don't believe he used terrorists.
    Quote Originally Posted by Conservative View Post
    You claim the economy was destroyed when Bush left office

  8. #98
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    Re: We Have a Spending Problem

    Quote Originally Posted by Vern View Post
    Now you have people who talked about balancing the budget making the deficit worse.
    Wrong of course! Politicians are flexible based on the spirit of the times if they want to stay in office. When voters change so must politicians. Nevertheless, Rand Paul, a Republican, stood up for fiscal responsibility and sustainability as did other Republicans while no Democrats did. More importantly, every Republican will stand up the second there is enough support to do so. Do you understand?

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    Re: We Have a Spending Problem

    Quote Originally Posted by James972 View Post
    Wrong of course! Politicians are flexible based on the spirit of the times if they want to stay in office. When voters change so must politicians. Nevertheless, Rand Paul, a Republican, stood up for fiscal responsibility and sustainability as did other Republicans while no Democrats did. More importantly, every Republican will stand up the second there is enough support to do so. Do you understand?
    Yes, I understand perfectly that you're making excuses rather than admit republicans are flaming lying hypocrites concerning deficits. And I understand your excuses are quite pathetic. Republicans wanted to cut spending in the worst recession since the depression, the Great Bush Recession but now that they are in full control thanks to an ignorant base that believed their lies about deficits, the deficit is shooting up.

    And what makes your post factually incorrect (in addition to pathetic) is they sent up balanced budget bills when we had a democratic president. So they had no problem "standing up" when they knew nothing would pass. Now they are hypocritically sitting down
    Quote Originally Posted by RetiredUSN View Post
    and I turn down more work than I accept to avoid hiring Americans.
    Quote Originally Posted by Lord of Planar View Post
    What proof is there Qaddafi ordered or financed that bombing? ......Qaddafi had the integrity to fight with his military. I don't believe he used terrorists.
    Quote Originally Posted by Conservative View Post
    You claim the economy was destroyed when Bush left office

  10. #100
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    Re: We Have a Spending Problem

    Quote Originally Posted by Vern View Post
    Yes, I understand perfectly that you're making excuses rather than admit republicans are flaming lying hypocrites concerning deficits.
    You are pretending to yourself that Republicans in office are concrete and don't change as their constituents change. Politicians are inherently flexible representatives particularly when the nation they represent is perfectly flexible and split 50-50 with the center, where the deciding votes are, always shifting. Nevertheless, Rand Paul stood up as did others and everyone will the second there is enough support to do so. Do you understand now? Too subtle for you?

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