Just a comment on the budget arguements -- The Rosewater Foundation, Rosewater, Indiana

[ Show ]

Support VoyForums

[ Shrink ]

VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, 4 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 07:09:05 06/05/11 Sun
Author: Paul Davis
Subject: Just a comment on the budget arguements

Sigh.

Ok, on a budget of 3.5 trillion we borrow 1.4 trillion, leaving collections of 2.1 trillion. That's the facts, jack.

Suppose we cut 500 billion. DC will call that 5 trillion in cuts because they count by decades, but whatever.

Cutting 500 billion is an enormous cut, and will cause all kinds of problems, but OK, we do it. Then what? You still are 900 billion out of balance.

So Ok, go look at the actual tax numbers. You'll find that collections are down to the lowest they've been since forever, and that it amounts to 14% of GDP. The US always has spent about 18 - 20% of GDP in federal spending since WWII, and right now (in two and a half (Libya) wars) we are up to 23%.

So we cut 500 billion, then we add 500 billion in tax rate increases. Guess what, the middle class has to be increased too, because middle class tax rates are the lowest ever, due to things like Bush and Obama's family tax giveaways and increases in the child deduction. So everyone gets a rate increase.

We've still got 400 billion in deficit, which the world will probably live with. But we need to do something soon. And that's about what it should end up as, if someone will shut the damn tea party up for a while.

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

Re: Just a comment on the budget arguements -- jeffman, 14:28:16 06/06/11 Mon
Re: Just a comment on the budget arguements -- shirley, 18:25:40 07/10/11 Sun