CoVid Stimulus check arrived

[Aoi]

Originally Posted by dallasfan

Only been 4 years of surplus in the federal budget in the last 50 years. All under Clinton. I don’t see any more any time soon.

Clinton with a mostly Republican Congress*

As for loopholes, I don't advocate for fewer loopholes. I think more people should learn how to game the system, the way the elites do. It'd be nice to stick it to the IRS.

Also, anyone that voted for dumbass Sanders probably wanted higher taxes.

[Grace Preston]

If Clinton did it thanks to the Republican Congress.. why couldn't they get it done the 2 years they had the House, Senate, and White House under Trump?



The answer is... it doesn't matter what party is in charge-- there are a metric ton of factors that go into it, of which many are beyond the control of who sits in DC. Lets not forget.. many of those Republican moves during Clinton-- helped steer us into the housing collapse a decade later (Glass-Steagall anyone?). To be even more blunt-- they aren't motivated to fix it because it doesn't benefit them to do so. In the era of modern media and counter media-- they get a greater benefit from elongating problems and crises.... more cameras, more attention, more donations, more lobby dollars.



Nothing--- NOTHING happens in a vacuum.

[Aoi]

Originally Posted by Grace Preston

If Clinton did it thanks to the Republican Congress.. why couldn't they get it done the 2 years they had the House, Senate, and White House under Trump?

Because McCain and Ryan were little bitches. The only thing I hate more than hyper lefties are people on the right who do everything opposite of what they espouse.

The answer is... it doesn't matter what party is in charge-- there are a metric ton of factors that go into it, of which many are beyond the control of who sits in DC. Lets not forget.. many of those Republican moves during Clinton-- helped steer us into the housing collapse a decade later (Glass-Steagall anyone?).

You're right that it ultimately doesn't matter which party has the majority. There will always be cockblocks from one house to another. And yes, undoing Glass Steagall did set the table fro the Housing collapse (which the Democrats ochestrated). It's almost like a domino. One administration sets something up, the next one comes in and pushes it down.

To be even more blunt-- they aren't motivated to fix it because it doesn't benefit them to do so. In the era of modern media and counter media-- they get a greater benefit from elongating problems and crises.... more cameras, more attention, more donations, more lobby dollars.

Yeah, this entire virus situation is a massive fucking waste of time and money, the latter being especially true. New World Order anyone?

[Chung Tran]

Originally Posted by dallasfan

I doubt this is anyone’s tax money. They just don’t collect this much money. But at some point we’ll have to pay it back unless the United States files for bankruptcy.

it's not anybody's tax money. the "money" is an accounting entry. nobody printed it, nobody collected taxes.. it just debited to millions of bank accounts this week, via an exchange of electrons.

Originally Posted by texassapper

the govt. doesn't give money that it doesn't first take from someone else first. So as a net payer in the tax dept., I think keeping the money is perfectly logical.

sure it does.. it just did.. you don't understand FIAT currency and the Federal Reserve system, or you would not post this.

paying the debt back? never.. that is a major fallacy, that "our children and Grandchildren will be ruined" having to pay back the huge amounts of money we borrowed. that argument is predicated on a point in time, when all borrowed money become due and payable. it doesn't, and never will.. these are accounting entries, the "money" continuously rolls over on the books.

[FunMonday]

Originally Posted by Aoi

Yeah, this entire virus situation is a massive fucking waste of time and money, the latter being especially true. New World Order anyone?

That’s right folks. Corvid 19 is conservatively estimated to be a $9 trillion dollar fuck up in global GDP. I hear that other countries, primarily China, enforces quarantine with GPS monitors to restrict movement. There goes our freedom and civil liberties. Gone like a fart in the wind one day.

Notice how quite Putin is? He’s probably scratching his head and saying, “shit we don’t need nukes...those crazy Americans can’t even manage a virus”.

New World Order? Well you can’t just plop the frog into the boiling water but turning the heat up over time is just a good

[dallasfan]

I think we found out about a lot of the US government’s tracking abilities through this pandemic. We know the have access to our locations through our phones They can tell how close we are to other phone users through pings from towers and connections to routers. They used this to try to tell who was sheltering in place. Scary stuff.

Through internet connected thermometer they could tell what area of the country were hot spots for high fevers.

They had some guy on tv that got treated for covid19. He said they let him go home because his fever was not high enough. They put some device on him and let him go home. They called him back 2 days later and told him to come in when the device sent them data

Russia has their own problems. Russia covid cases are out of control.

Originally Posted by FunMonday

That’s right folks. Corvid 19 is conservatively estimated to be a $9 trillion dollar fuck up in global GDP. I hear that other countries, primarily China, enforces quarantine with GPS monitors to restrict movement. There goes our freedom and civil liberties. Gone like a fart in the wind one day.

Notice how quite Putin is? He’s probably scratching his head and saying, “shit we don’t need nukes...those crazy Americans can’t even manage a virus”.

New World Order? Well you can’t just plop the frog into the boiling water but turning the heat up over time is just a good

[Grace Preston]

Originally Posted by Chung Tran

it's not anybody's tax money. the "money" is an accounting entry. nobody printed it, nobody collected taxes.. it just debited to millions of bank accounts this week, via an exchange of electrons.



sure it does.. it just did.. you don't understand FIAT currency and the Federal Reserve system, or you would not post this.

paying the debt back? never.. that is a major fallacy, that "our children and Grandchildren will be ruined" having to pay back the huge amounts of money we borrowed. that argument is predicated on a point in time, when all borrowed money become due and payable. it doesn't, and never will.. these are accounting entries, the "money" continuously rolls over on the books.

This. The concept of "somebody is paying for it" went away when we went away from the gold standard. The process began in the years of Roosevelt (33 or 34 if memory serves).. and the final shot was fired by Nixon around 71-ish (I haven't cracked an ECON book in a few years).



We literally tie our money to nothing aside from the reputation of our country.

[dallasfan]

The federal government can’t file for bankruptcy of course. They do it by firing up the money printing machine. And vote to raise the debt level. I think last time they shut down parts of the government for a few weeks when they couldn’t get it passed. Hate to see the next vote. Hi. I’m her to request that we raise the debt limit by 6 trillion this year please.

[texassapper]

Originally Posted by Chung Tran

it's not anybody's tax money. the "money" is an accounting entry. nobody printed it, nobody collected taxes.. it just debited to millions of bank accounts this week, via an exchange of electrons.....don't understand FIAT currency and the Federal Reserve system, or you would not post this.

paying the debt back? never.. that is a major fallacy, that "our children and Grandchildren will be ruined" having to pay back the huge amounts of money we borrowed. that argument is predicated on a point in time, when all borrowed money become due and payable. it doesn't, and never will.. these are accounting entries, the "money" continuously rolls over on the books.

That which cannot go on forever, will not go on forever. I'm glad you understand double ledger accounting and fiat currency. Now explain to the audience how bubbles never break, markets never falter, and debts are never called, and that primary trading partners never go to war with each other.

As for it not being my tax money.... FICA keeps disappearing from my paycheck never to be seen again. I'm sure it's just me being overly concerned about digits in a column, yet history is full of examples that should tell you that NOTHING EVER, EVER goes on forever.

[Grace Preston]

Not true... you see the FICA when you retire Its the income tax that you never see again.



See, this is what has always cracked me up when political ads talk about "Tax and Spend Democrats".


Well, yeah-- common sense tells you if you want to spend, you need to raise revenue. Tell me how the "Spend and Don't Tax" is working for that debt.....



Now-- I don't advocate for taxes... but if anyone still believes that the Republican party is the party of of fiscal conservatism.. I've got a bridge I'd love to sell you. Neither party wants a balanced budget... you have a hard time hiding pork in a balanced budget.

[Financeman22]

Waiting on mine, now I know why I like ice cream, it gives me energy, at least that’s what Speaker Nancy says!! lol

[playerplano]

Originally Posted by Grace Preston

This.

We literally tie our money to nothing aside from the reputation of our country.

So true our money is only valuable because the world agrees it is ! If a new world currency were to take over by design or our own failures the dollar would not be worth the very expensive paper we print it on.

[Chung Tran]

Originally Posted by texassapper

As for it not being my tax money.... FICA keeps disappearing from my paycheck never to be seen again. I'm sure it's just me being overly concerned about digits in a column, yet history is full of examples that should tell you that NOTHING EVER, EVER goes on forever.

your taxes do not go to pay for Government programs.. if the Government wants to spend, it will, and does, regardless of what taxes they did or did not raise. taxes basically do one thing.. provide a bit of a backstop against currency devaluation. the money people are collecting from Social Security now, for example, is NOT the money they put in to that "lockbox". that was scuttled in 1976, Social Security is broke, except for Congressional replenishment from created money by the Federal Reserve.

and regarding what Grace said about Nixon.. yes, the Gold standard disappeared around 1971, and that spooked Economies around the Globe.. inflation went wild for years, about a decade.. until Governments everywhere, but the US in particular, learned that money-pumping could chase inflation away! your textbooks suddenly became outdated, the ones that said more money means more inflation. it used to be true.. but when you drown the market in money, it becomes so cheap nobody will pay to own it, i.e., interest rates for savers becomes near zero, and you get a 40-year Bond Bear Market, as we have. the low yield corollary is low inflation, there is so much money around, you can't price your goods higher. your old textbooks said excess money supply would devalue the Dollar, but it hasn't at all.. now, if the rest of the World was on the Gold standard, yes, but they aren't.. nobody is.. because all have learned that money equals economic growth. if we did not debit US bank accounts for 6.2 trillion dollars, growth would be near zero, in fact, for now we are just "lessening the losses".