Another help for those mortgages underwater.

[WTF]

Originally Posted by CaptainMidnight

I'm curious: Just who do you guys think is going to pay for all this spending? Do you not realize that restoring the top tax bracket to pre-2001 levels would cover less than 4% of our current budget deficit?

.

Well we could just cut taxes and watch the economy grow its way out of it.....no wait, the banks have already sucked out the inflated home equity for another bubble like this last one. Oh well let's cut taxes more. That is the GOP way of paying for things. You never seem to have a problem with that thought process.

Also people cut the crap about people not paying taxes....poor people pay about 40% of their income in regressive taxes. You want them to pay another 40% in Fed tax? Come on. Play fair when talking about taxes.

[Texas Contrarian]

Originally Posted by WTF

Well we could just cut taxes and watch the economy grow its way out of it.....no wait, the banks have already sucked out the inflated home equity for another bubble like this last one. Oh well let's cut taxes more. That is the GOP way of paying for things. You never seem to have a problem with that thought process.

Also people cut the crap about people not paying taxes....poor people pay about 40% of their income in regressive taxes. You want them to pay another 40% in Fed tax? Come on. Play fair when talking about taxes.

If you actually believe all of those utterly ridiculous comments, you have no clue what I think and no understanding of the issue.

[pjorourke]

Originally Posted by WTF

Also people cut the crap about people not paying taxes....poor people pay about 40% of their income in regressive taxes. You want them to pay another 40% in Fed tax? Come on. Play fair when talking about taxes.

Where do you get bullshit numbers like this 40%? Oh wait, I know -- its dark there right?

[pjorourke]

Originally Posted by CaptainMidnight

If politicians want to turn the U.S. into something a lot more like a European-style social democracy, they're going to have to convince non-affluent Americans that they'll somehow end up getting a good overall deal.

It is the only way to pay for that kind of crap.

[WTF]

Originally Posted by pjorourke

Where do you get bullshit numbers like this 40%? Oh wait, I know -- its dark there right?

I would provide a link but then that would go aganist the nature of what ya'll like.

It is not BS and if and when I do provide it I expect for RK to comment on your contriteness! LOL

Poor people or more to the point people making between 30-500k on average pay 40% of their income on taxes. Total taxes. Both the regressive and progressive kind. Those regressive taxes that you fellers like to not mention when talking about taxes.

















Now I'm off to watch the Masters and get a nice bj.

[WTF]

Originally Posted by CaptainMidnight

If you actually believe all of those utterly ridiculous comments, you have no clue what I think and no understanding of the issue.

Of course that was tongue in cheek ....a nod towards the Tea Party folks that want to cut spending , yet cry like a baby if you talk about cutting Medicare services!

Those Laffer Curve folks that only know one thing....CUT TAXES!

I have a clue dear sir....

[Rudyard K]

Originally Posted by WTF

I would provide a link but then that would go aganist the nature of what ya'll like.

Originally Posted by WTF

It is not BS and if and when I do provide it I expect for RK to comment on your contriteness!

I can't imagine whay no one can understand WTF you are saying. You won't provide a link?...you will provide a link?...If that is having a clue, it must be only in cluelessville. You might want to take another ADD pill...take two. But keep in mind, they are not the little blue ones.

If and when you do provide a link (I'm not really sure which was your plan), hopefully it won't be from "WTF's BS Link Page", but from some place of a little credibility. I can provide a link to the flat earth society too, but that really won't tell anybody anything.

As a matter of fact, here it is. http://theflatearthsociety.org/cms/

I hear they are looking for members, and think you'd fit right in.

[Texas Contrarian]

Originally Posted by WTF

Well we could just cut taxes and watch the economy grow its way out of it...That is the GOP way of paying for things. You never seem to have a problem with that thought process....Those Laffer Curve folks that only know one thing....CUT TAXES! I have a clue dear sir...

You have a clue about what?

I simply said that you have no clue what I think. That's obvious from what you posted. When did I indicate that I believe in "paying for things" with tax cuts? (Whatever that means.) We have obviously reached a point at which tax cuts aren't possible.

Continually changing the subject and building little straw men doesn't work well for you. Didn't you learn that during the long debate we had in the HPF?

Originally Posted by WTF

Poor people or more to the point people making between 30-500k on average pay 40% of their income on taxes. Total taxes. Both the regressive and progressive kind.

Do you seriously believe that a family earning, say, $50k/yr. typically pays $20,000 in taxes?

The main point I was trying to make is that the only way to pay for all this out-of-control spending is to raise taxes -- and by a massive amount -- on the middle class. You know it. Everyone knows it.

You cannot raise very much additional revenue by jacking up tax rates only on the top 1%. Anyone who believes otherwise is simply living in a fantasyland.

[pjorourke]

Originally Posted by WTF

Poor people or more to the point people making between 30-500k on average pay 40% of their income on taxes.

500K is poor? What color is the sky in your world WTF?

[TexTushHog]

If we're talking about getting our financial house in order long term, both spending cuts and tax increases will be necessary. The U.S. has an inordinately low tax burden compared to other comparable countries. We cannot offer our citizens that same sort of government services that other Western democracies do with a effective tax burden of 27% of GDP. Other countries effective tax burden is around 35 - 37% of GDP. If we want comparable education systems, comparable infrastructure, comparable social safety nets, etc., we're going to have to pay comparable taxes.

And we need to cut our spending. And she should start with the Defense Department and corporate welfare. Social Security should also be means tested so that those who will be comfortable in retirement without it, won't unnecessarily drain the program. Agricultural subsidies should also be greatly reduced or eliminated, albeit gradual over a period of several years. But it is not advisable to make these cuts while we're still in recession. But the ground work needs to be laid now.

But so long as the Republicans refuse to consider tax increases or cuts to the Defense Department or corporate welfare, the Democrats will refuse to consider cuts in entitlement programs, and rightfully so. So unfortunately, things are going to have to get worse before they get better.

As for a VAT, I'm on record as saying that this is a horrible idea.

[pjorourke]

Originally Posted by TexTushHog

As for a VAT, I'm on record as saying that this is a horrible idea.

If you are going to have a socialist welfare system, it is the only way to pay for it. And your boy is going to bring it.

[charlestudor2005]

Originally Posted by pjorourke

And your boy

If this isn't a derogatory racial slur, it sure is close.

[pjorourke]

Originally Posted by charlestudor2005

If this isn't a derogatory racial slur, it sure is close.

Get a life Chuck

[EmilyHemingway]

Originally Posted by CaptainMidnight

Do you seriously believe that a family earning, say, $50k/yr. typically pays $20,000 in taxes?

No. It's worse than that. Unlike WTF (sorry, dude) I actually have the links at my fingertips.

Cost of Government Day

The main point I was trying to make is that the only way to pay for all this out-of-control spending is to raise taxes -- and by a massive amount -- on the middle class. You know it. Everyone knows it.

True. Although, "[T]he problem with socialism is that eventually you run out of other people's money to spend." ~ Margaret Thatcher.

It's a pipe dream to think that all these lovely promises from our government aren't going to result in increased taxes. It all has to be paid for somehow, by someone. TNSTAAFL. The crux is whether the well has in fact been tapped dry. The federal government has dozens of trillions of dollars (94 trillion, IIRC) in unfunded obligations due in the next decade alone, not counting health care. In 2018 SS, Medicare and interest on the national debt alone will equal GDP, and that's with a very generous assumption of 7% growth yearly (ahaha, funny).

In my opinion, we've spent ourselves out. The answer is to cut spending drastically. It'll never happen though, because there's a dearth of political brassies to do such a thing. So, big tax increases across the board. VAT, here we come.

[charlestudor2005]

Originally Posted by pjorourke

Get a life Chuck

You're the one that referred to our President as "your boy."