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Where your taxes go

Praxas said:
You had a Republican majority. As a con are you having trouble with numbers?
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ask Mom about difference between a majority and significant majority. Majority was significant enough to even build a wall, his most important campaign promise. See why we have to be positive that liberalism is based in ignorance?
 
OscarLevant said:
so, did I pay?

No, the debt is just rolled over. That's all that happens, and the numbers just get bigger.
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yes debt is very large. It's exactly like every family in America now has another (180k) mortgage to pay off a house, but they don't get to live in that house. This is why our standard of living is not going down. Republican capitalism is making us rich and Democrats are stealing and wasting the money!
 
JohnfrmClevelan said:
So, for the 1000th time, the "national debt" is not real debt in any meaningful sense of the word.
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any reason to say its not real? Does it even occur to a liberal to have a reason?
 
James972 said:
Actually our tax dollars go to pay interest on the liberal's $22T national debt. 1+1=2
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You are unable to explain why the elimination of the national debt would make U.S. citizens poorer, and not richer.
 
JohnfrmClevelan said:
You are unable to explain why the elimination of the national debt would make U.S. citizens poorer, and not richer.
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elimination of debt would make us richer because then we would not have to pay off debt. Notice the way a conservative is always made to feel like a kindergarten teacher?
 
James972 said:
elimination of debt would make us richer because then we would not have to pay off debt.
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Really?

The private sector holds a $1000 bond; the private sector now has a net worth of $1000.

1) Bond matures. Private sector still has $1000 (now in dollars). But in order to pay that, Treasury had to issue another $1000 bond. No debt has been extinguished.

2) Treasury taxes the private sector $1000, then extinguishes the bond by returning those dollars to the bondholder. Now the private sector is down $1000, but the debt has been extinguished, and not merely rolled over.

So the elimination of debt has made us $1000 poorer.
 
James972 said:
elimination of debt would make us richer because then we would not have to pay off debt. Notice the way a conservative is always made to feel like a kindergarten teacher?
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On the contrary, the conservative always makes himself look like a kindergarten student.
 
James972 said:
elimination of $22t liberal debt means my taxes can go down and I am richer. 1+1=2
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Elimination of $22 trillion in debt removes $22 trillion from the private sector, and you are poorer. And the economy is also nonexistent.
 
JohnfrmClevelan said:
Now the private sector is down $1000,

the private sector that paid the taxes is down $1000; the private sector that received the taxes is up a $1000. 1+1=2
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James972 said:
the private sector that paid the taxes is down $1000; the private sector that received the taxes is up a $1000. 1+1=2
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Nope. The private sector had $1000 in cash, and they also had a $1000 bond. They were taxed $1000; then, the $1000 cash was exchanged for the bond. Now, they only have $1000 in cash.

Simple arithmetic that you are incapable of. 1+1-1=1
 
KLATTU said:
The Federal Government Will Spend $35,148 Per Household in 2019. Here's Where It Goes - Foundation for Economic Education

This year, Washington will spend a staggering $35,148 per household and collect $26,677 per household in taxes.

The resulting budget deficit of $8,471 per household will bring the total national debt to $177,000 per household.

Federal spending has soared nearly $7,000 per household since 2007 and is projected to rise another $7,000 over the next decade (all numbers in this article are adjusted for inflation). Unless spending is reined in, tax increases must eventually result.
And who represents the kids who will inherit much of the bill?
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And how much did we just waste on a corrupt and manufactured investigation into Collusion? The current count is $25 million but all acconting is not yet in.
 
JohnfrmClevelan said:
Nope. The private sector had $1000 in cash, and they also had a $1000 bond.
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they had either or. 1000 cash until they were taxed or until they bought bond. 1+1=2
 
James972 said:
they had either or. 1000 cash until they were taxed or until they bought bond. 1+1=2
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Wrong again. They don't have to have "either or." The private sector has enough cash to cover taxes, plus they have a bond. We can say they had $1 million in cash, plus a $1000 bond on top of that, it doesn't change the math. If Treasury decreases the national debt, it's a net loss for the private sector, period. It must come out of a tax surplus, and tax surpluses come out of the pockets of the private sector.

Which is why I find your constant harping on about the debt so incredibly ignorant. I have presented the math before, but you have never understood it. Yet you call liberals stupid, which is very ironic.
 
JohnfrmClevelan said:
If Treasury decreases the national debt, it's a net loss for the private sector, period.
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yes if they raise taxes private sector loses;if they lower taxes private sector wins, period. And??
 
JohnfrmClevelan said:
Which is why I find your constant harping on about the debt so incredibly ignorant.
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so debt is good after all ? the more the govt spends the richer the private sector becomes? Then the only problem is for govt to spend as much as possible!! Solve that and we can be richer and richer!! We could elect Bernie for Medicare for All and AOC for Green New Deal!!
 
James972 said:
ask Mom about difference between a majority and significant majority. Majority was significant enough to even build a wall, his most important campaign promise. See why we have to be positive that liberalism is based in ignorance?
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You said majority not significant majority so now as usual you move the goalposts when proven wrong. The only ignorance here is your comments.
 
James972 said:
yes liberals are stupid, they imagine govt can take their money and make their lives better.
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You still don't know where money comes from! Conservatives are so incredibly stupid! Unfortunately, that doesn't stop them from trying to tell everybody their idiotic economic theories.
 
James972 said:
so debt is good after all ? the more the govt spends the richer the private sector becomes?
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Up to a point, yes. The government spends, and we earn. Once past the point where we can satisfy demand, then it becomes unproductive.

James972 said:
Then the only problem is for govt to spend as much as possible!! Solve that and we can be richer and richer!! We could elect Bernie for Medicare for All and AOC for Green New Deal!!
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No, the only real problem is educating a nation full of conservative morons that governments do not go into real debt when they issue bonds and deficit spend.
 
JohnfrmClevelan said:
Up to a point, yes. The government spends, and we earn. Once past the point where we can satisfy demand, then it becomes unproductive.



No, the only real problem is educating a nation full of conservative morons that governments do not go into real debt when they issue bonds and deficit spend.
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OM, where did you get your education? Gov't doesn't go into debt with Bonds? What value does a bond create? Any long term obligation is debt. Getting really tired of left wing liberal socialist supporting massive gov't and ignoring reality that we don't need a 4.7 trillion dollar federal gov't duplicating a lot of what the states are doing.

It isn't the governments responsibility to satisfy demand, it is the gov'ts responsibility to provide incentive to the private sector to satisfy demand
 
Just change the law and allow the FED and Treasury to pay it off using US dollars. You folks do realize that US dollars are nothing but bits and entries on ledgers....right?
 
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