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Where your taxes go

KLATTU

KLATTU

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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?
 
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?
Click to expand...

Funny, I don't recall you complaining about spending when Republicans were in charge of it for the last two years. I wonder why?
 
Praxas said:
Funny, I don't recall you complaining about spending when Republicans were in charge of it for the last two years. I wonder why?
Click to expand...

I have done nothing but complain.

Do you have anything worthwhile to add?
 
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?
Click to expand...

Yes a BBA or cap on spending as a % of GDP would be obvious instant solution, but of course Dems are totally irresponsible so it cant happen. Anybody know if Dems Medicare for all and Dems Green New Deal will help matters? BBA and spending cap are fiscally responsible and obvious solution but would ,in effect, make Dems illegal.
 
Praxas said:
Funny, I don't recall you complaining about spending when Republicans were in charge of it for the last two years. I wonder why?
Click to expand...

Republicans were not in charge which is why,for example, they dd not build wall. Really over your liberal head???
 
James972 said:
Republicans were not in charge which is why,for example, they dd not build wall. Really over your liberal head???
Click to expand...

From Jan 2017 to Jan 2019 you had a Republican President and Republican Congress. Sorry you hate facts.
 
When has a household ever had to pay off the national debt? I am still not sure why people apply the government debt to taxpayers, we don't actually ever have to pay it.
 
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?
Click to expand...


This deserves some sort or recognition. This is the first post I can recall reading here about the deficit that was not posted or prompted by myself.

One comment. Not only must spending be reigned in but taxes must rise and no new spending programs can be considered.

No free this, no free that.

Only in this way will the deficit truly be broached.
 
JP Hochbaum said:
When has a household ever had to pay off the national debt? I am still not sure why people apply the government debt to taxpayers, we don't actually ever have to pay it.
Click to expand...

Try again. The interest alone is taking a increasing percentage of the budget.

National debt.PNG
 
JP Hochbaum said:
When has a household ever had to pay off the national debt? I am still not sure why people apply the government debt to taxpayers, we don't actually ever have to pay it.
Click to expand...

Even if the principle remains unpaid the interest expense (which is paid by taxpayers) mounts as the level of debt increases.
 
JP Hochbaum said:
When has a household ever had to pay off the national debt? I am still not sure why people apply the government debt to taxpayers, we don't actually ever have to pay it.
Click to expand...

Very Trumpian in thought!
 
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?
Click to expand...

Your analysis is wrong. The government has income outside of taxes in the form of fees, licenses, leases, fines and tariffs.
 
how much does that add up to?
 
Praxas said:
From Jan 2017 to Jan 2019 you had a Republican President and Republican Congress. Sorry you hate facts.
Click to expand...

And fact is Trump still could not build his wall. As a liberal can you understand that you need a significant majority to get anything done in a democracy?? Honestly, this is something a child would know, but not a liberal.
 
JP Hochbaum said:
When has a household ever had to pay off the national debt? I am still not sure why people apply the government debt to taxpayers, we don't actually ever have to pay it.
Click to expand...

??? are taxes are used to pay off the debt. Do you understand?
 
noonereal said:
One comment. Not only must spending be reigned in but taxes must rise and no new spending programs can be considered.
.
Click to expand...

Very Republican of you. I guess that means no Medicare for All
and no Green New Deal????
 
James972 said:
And fact is Trump still could not build his wall. As a liberal can you understand that you need a significant majority to get anything done in a democracy?? Honestly, this is something a child would know, but not a liberal.
Click to expand...

You had a Republican majority. As a con are you having trouble with numbers?
 
Praxas said:
From Jan 2017 to Jan 2019 you had a Republican President and Republican Congress. Sorry you hate facts.
Click to expand...

Since January 2017 there have been 7 interest hikes and for the entire Term of Obama there were 2. Your partisanship and hatred is showing and that is really sad to see. what effect do you think interest rate changes have on the deficit, the DOW, and GDP growth? Take off the partisan blinders for a change and be honest for maybe the first time in your life
 
Conservative said:
Since January 2017 there have been 7 interest hikes and for the entire Term of Obama there were 2. Your partisanship and hatred is showing and that is really sad to see. what effect do you think interest rate changes have on the deficit, the DOW, and GDP growth? Take off the partisan blinders for a change and be honest for maybe the first time in your life
Click to expand...

/yawn more worthless rhetoric from you as usual. If you’re going to butt in at least know the conversation. Since you choose not to read you only prove Hillary right about trump supporters.
 
Praxas said:
/yawn more worthless rhetoric from you as usual. If you’re going to butt in at least know the conversation. Since you choose not to read you only prove Hillary right about trump supporters.
Click to expand...
You really are emotionally invested in your TDS and we should be worried about you. You seem incapable of even understanding what you post as it is 24/7 anti Trump all the time. What is your vested interest in all this anti Trump rhetoric and why can't you celebrate success of the American economy

Sent from my SAMSUNG-SM-G930A using Tapatalk
 
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?
Click to expand...



You could have said the same thing when I was a kid ( just smaller numbers ).

so, did I pay?

No, the debt is just rolled over. That's all that happens, and the numbers just get bigger.

You want to see where the numbers can go? Look at the Japanese yen.
 
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?
Click to expand...

I know I'm beating my head against a wall here, but I have to try...

Do you understand that, in order for the government to "get out of debt" they need to run (huge) budget surpluses? Meaning, they need to remove money from U.S. households. The same U.S. households that you think are somehow in $177,000 of debt each are actually in the black because it's the government that is "in debt." A debt which never has to be extinguished, btw.

In your mind, somebody that holds a U.S. bond is a "creditor," and the U.S. is a "debtor." Then why is it, that in order for the supposed debtor to extinguish his liabilities, the supposed creditor must actually lose money? That's not how real debt works. There is no "bill" that our kids will have to pay. That is simply ignorant fearmongering.

So, for the 1000th time, the "national debt" is not real debt in any meaningful sense of the word. Stop obsessing over it.
 
JohnfrmClevelan said:
I know I'm beating my head against a wall here, but I have to try...

Do you understand that, in order for the government to "get out of debt" they need to run (huge) budget surpluses? Meaning, they need to remove money from U.S. households. The same U.S. households that you think are somehow in $177,000 of debt each are actually in the black because it's the government that is "in debt." A debt which never has to be extinguished, btw.

In your mind, somebody that holds a U.S. bond is a "creditor," and the U.S. is a "debtor." Then why is it, that in order for the supposed debtor to extinguish his liabilities, the supposed creditor must actually lose money? That's not how real debt works. There is no "bill" that our kids will have to pay. That is simply ignorant fearmongering.

So, for the 1000th time, the "national debt" is not real debt in any meaningful sense of the word. Stop obsessing over it.
Click to expand...

Oh. Well. Then we should cut taxes to zero and triple spending. THANKS!
 
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?
Click to expand...

I don't disagree with this, but why did we cut taxes then?
 
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