The Party of Fiscal Responsibility
- Thread starter kobis18
- Start date
Found both links to be interesting. The second one in particular would shock 99% if Americans.
This was only a secret to republicans. Mainly because the information had been concealed in reality.
Until we increase taxes by, say, 50% and significantly cut back entitlement spending, the smart money is on continued large deficits down the road and an ever-increasing debt. It ain't rocket science and it ain't launch angles and spin rates.
Politicians have no balls and voters won't vote for those who might try to grow a pair. So, eat, drink and be merry for tomorrow we die ....
Don't think we need to increase taxes that dramatically, just need to control the spending.
Sure, but, you know, Green New Deal, free tuition, student loan forgiveness, healthcare coverage for illegal aliens and all the other wet dreams of the dupes here and elsewhere. And since we pay more in taxes than these cubicle cattle, entry-level munchkins earn we aren't paying our fair share.
This country's politicians have as much desire to cut spending as Tom Crean does to stop clapping.
Expenditures absolutely have to be part of any serious conversation concerning the budget. Having a coherent and serious discussion on healthcare is imperative.
However, we all to often overlook the other piece - revenue. GOP tax cuts have taken money out of the government coffers. We all know this. Where did that money go?
“Since 2000, tax cuts have reduced federal revenue by trillions of dollars and disproportionately benefited well-off households. From 2001 through 2018, significant federal tax changes have reduced revenue by $5.1 trillion, with nearly two-thirds of that flowing to the richest fifth of Americans, as illustrated in Figure 1.[1] The cumulative impact on the deficit during this period is $5.9 trillion, including interest payments.
By the end of 2025, the tally of tax cuts will grow to $10.6 trillion. Nearly $2 trillion of this amount will have gone to the richest 1 percent. By then, the total impact on the deficit will be $13.6 trillion, including interest payments.”
https://itep.org/federal-tax-cuts-in-the-bush-obama-and-trump-years/
Anyone who is seriously concerned with the deficit must also be concerned with the redirection of funds from the government to the wealthiest Americans. It ain’t trickling down.
That's only a problem if you assume wealthy American's don't deserve to keep more of their own money. I disagree with the entire premise that something is wrong.
Agee. Both sides of the equation have to addressed. Over that same 2001 to 2018 period IU debt increased by about $16 trillion. So about 2/3rds of that increase must be due to increased spending, but addressing only one side will never solve the problem.
To me, it isn't always about the nominal dollar amount, but the purpose of the spending. I'd be far more likely to support deficit spending in infrastructure and other mechanisms that provide long-term benefits as opposed to spending in the form of temporary stimulus, welfare programs, etc.
The stimulus bill should have been mostly infrastructure instead of what it was. We’d all be better off now and would have recovered more quickly then.
Agree, but instead of complaining about poor prior policy, we should be demanding that we don't repeat the same mistake right now while rates have plummeted economic growth slows.
He's safe from COVID-19. The dead can't be infected.
The only way to actually pay for the things that politicians promise to the "not rich" is to tax everyone like they do in Europe. That is the dirty little lie that no one wants to touch. The rich do not have enough money to pay for all of the government that so many demand.
Because the actual items that drive the budget deficits are super easy to demagogue and people like that "free" money.
If it were easy, the politicians would be doing it. They generally like to take the path of least resistance because that gets them elected. Touch the social safety net and you are throwing granny off a cliff. Touch military spending and waste and you hate the troops. Everyone wants other people's benefits cut and the "rich" to pay for it. Nobody except the uber wealthy really think of themselves as rich though.
You are talking about cutting. What about holding spending constant? Obviously Medicare and SS are a total shit show thanks to Boomers, but many of these others are ripe for moderation in their cost growth.
LOL in the past 40 years we've had three economic booms. The 80's where the deficit under the cowboy conservative skyrocketed.
The 90's under Clinton who balanced the budget and got our deficit down to being manageable again.
Then the 2010's under Obama who once again balanced the budget and got our deficit back down to manageable after Jr. jacked it up again.
Progressives don't like Clinton or Obama, but those two by far gave us our best, most prosperous and fiscally responsible 16 years in our lifetimes.
It can be done as it has been twice. Just takes a willing congress and a president that isn't mentally challenged, especially with math.
In theory, yes. But I have not seen much will in D.C. to do that. Spending is something that gets plenty of bipartisan support.
Obama didn't come close to balancing the budget. Besides, Presidents don't balance budgets, Congress does. Or I should say they could, but they don't.
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