Q: How do we pay off the National Debt? A: We inflate it away!

[Missouri_Mike]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

Holy shit, so you are now going to increase minimum wage jobs to the national average of incomes? And that somehow isn't going to have an effect on jobs further up the line? So if you triple the minimum wage does that mean the people that worked themselves into a better paying 20 bucks an hour job now get 60? Or do you expect them to stay at 20 while the minimum wage earners get 23.50 for having no skills?

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

Deductions and write offs aren't subsidies, you idiot. But my favorite part of your idea is a dollar for dollar deduction for all federal taxes and fees. Congrats and thank you, you have just eliminated Social Security. Employers must match SS contributions by the employee by 1.5%. If that's a tax deduction SS is now over. At least you're doing something to help and finally have a decent idea.

-Adjust Social Security and private/public retirement and pension payments using 1970-2013 price structure.

You just eliminated SS. All SS payments will be reduced accordingly. It's fair though. They voted for this shit and now I agree should be the ones to take the brunt of the failure. Kinda funny how fixing SS must have some element of reducing the cost of it isn't it?

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

So Bush levels of spending. I'm good with that. Bush was a spender but obie is even worse, let's go back to Bush and pay all of this off. Well, that's if we can survive your stupid ass minimum wage bullshit. It's a long shot.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

Nicely done, if only we could find a way to not only destroy people's 401k's invested in off shore companies but actually get our corps to contract and only do business here. Well, you found a way my man! We wouldn't want to lower our tax rates on off shore but eliminate it all together! And you found the solution. Congrats.

You are a one percenter on the level of Paris Hilton. A dingbat fucking retard living the life that you never had to earn. But you sure have some ideas to throw out there. None of which would possibly make sense to anyone not born of the silver spoon.

 

[Missouri_Mike]

Make the liberals work and pay taxes, instead of posting dumb ass chit on these boards.

They do. The problem is there's not enough jobs. Corporate America is holding the middle class hostage because they want their subsidies back. My plan eliminates the loopholes and stimulates hiring, especially in small businesses by reducing the number one expense of hiring to a maximum of taxes paid.

It also stimulates the welfare class. Would you rather make payments from welfare or $48k/yr? Simple choice, since everyone will be hiring I'm removing the 'I can't find a job' off the table.

Don't ever again refer to what you post here as a plan. You don't have a plan. You have a dream of fairy tales and unicorn's in some far off world of magic and wonder. Nothing you have can be even remotely considered a plan or based in reality. You're too fucking stupid to be even consulted on anything that could be remotely considered a plan. I'm thinking you need a job at Disney because nothing you can come up with will work outside of a cartoon and fantasy environment.

 

[HenryBHough]

Inflation is all built and sitting in the garage waiting to rocket out.

At the end of the day salvation will come from repudiation of the currency.

I'm not going to explain it again - if you really want it rehashed do your own research. Start with the Argentine economy.

Hint: The NEW Dollars won't look anything like the old Dollars.

 

[OnePercenter]

Make the liberals work and pay taxes, instead of posting dumb ass chit on these boards.

They do. The problem is there's not enough jobs. Corporate America is holding the middle class hostage because they want their subsidies back. My plan eliminates the loopholes and stimulates hiring, especially in small businesses by reducing the number one expense of hiring to a maximum of taxes paid.

It also stimulates the welfare class. Would you rather make payments from welfare or $48k/yr? Simple choice, since everyone will be hiring I'm removing the 'I can't find a job' off the table.

How will putting a ceiling on prices, effectively capping profts, make companies hire more people?

Costs of goods for business will stay the same.

Profits won't be capped because every American will receive a HUGE raise and buy more product thus enhancing profit.

Corporate America is holding the middle class hostage because they want their subsidies back. I'm giving them their subsidies, but in a way that stimulates the middle class and the economy instead of just enhancing their bottom line.

Have you ever taken an Econ class in your life? Read a text book? Looked at a Wiki article on the topic? I mean, no one who did any of that would post such stupid bullshit.

I hold a Masters Degree in Business from Columbia University.

 

[OnePercenter]

It worked for Nixon.
Oh, no it didnt.


We will inflate the currency to pay the debt. That has been the tacit decision fo the administration. It is a stealth tax no one votes for. Having lived through the 1970s I dont want to see that again.

Goods and service prices are locked down, how would there be any inflation?

Oh no, it could never happen! Liberals are seriously dementted people.

FYI: There never was a gas shortage.

 

[Publius1787]

We haven't paid off a dime of the National Debt since before WWII.

(Well, I lied, there were a few years in the mid 1950s when the Natl Debt went down, from $274 billion to $270 billion, we paid off a whopping 1-1/2% of it before it shot back up the following year and has never come down again)

People thought $270 billion was huge, back then. Now it's $17 *trillion*.

So how come we aren't fiscally dead and buried by now? Easy. We made each dollar, worth a lot less. So the VALUE we now owe, is a lot less than it would have been. Neat trick, eh?

If you're wondering whose pocket all the VALUE vanished from to "pay off" the Natl Debt, consider the guy who saved up $15,000 in 1950. That was enough to buy ten pretty good, brand new cars then. If he saved it until now, it would be barely enough to buy one new car, and a cheap one at that.

That's the guy who paid off the National Debt. Him and his friends. And he probably didn't even realize he was doing it. And he's probably wondering why he can only buy one new car now instead of ten. Where did the other nine cars go?

If you're wondering if we are going to see inflation or deflation soon, the answer is: If we see any deflation at all, it won't last long. We've got a TON more debt to pay off. So we'll see almost entirely INflation, as far as the eye can see, from now on. It's the only way to pay it off.

And if you were wise enough to follow your grandfather's advice and save your money... YOU ar the one who will pay. Kiss most of your savings good-bye. Sucker.

Have you ever wondered why the government has never put a tax on savings and wealth?

Ha ha, fooled you. They HAVE put a tax on wealth, and it's been going for decades. It's called Inflation. And YOU have been paying it. That's why you're not rich now. Sucker.

1. You don't want deflation because people aren't going to spend their money today when they know it will be worth more tomorrow. Lets not forget that the Great Depression was a deflationary period.
2. Too much inflation may solve our national debt problem, but who is going to lend us money the next time? No one.
3. There is nothing wrong with a little inflation nor is there anything we can do about it.

 

[OnePercenter]

-Raise minimum wage to $23.50/hr. Based on where minimum wage should be using 1970-2013 rise in food, shelter, and transportation.

Holy shit, so you are now going to increase minimum wage jobs to the national average of incomes? And that somehow isn't going to have an effect on jobs further up the line? So if you triple the minimum wage does that mean the people that worked themselves into a better paying 20 bucks an hour job now get 60? Or do you expect them to stay at 20 while the minimum wage earners get 23.50 for having no skills?

-That would be nice. Think about the extra monies floating into the economy rather than some rich guys holding account, or the $100 Trillion currently locked down by corporate America.

-Eliminate all business subsidies (deductions/write-off’s/write-downs) except for employee expenses which are deducted dollar-for-dollar on all city, state, and Federal taxes and fees.

Deductions and write offs aren't subsidies, you idiot. But my favorite part of your idea is a dollar for dollar deduction for all federal taxes and fees. Congrats and thank you, you have just eliminated Social Security. Employers must match SS contributions by the employee by 1.5%. If that's a tax deduction SS is now over. At least you're doing something to help and finally have a decent idea.

-Deductions and write-offs are subsidies. A financial subsidy is aid given by the government. If you have an argument that deductions and write-offs aren't a form of aid, I'd love to debate that with you.

-Businesses currently deduct employee expenses, I'm making it better.

You just eliminated SS. All SS payments will be reduced accordingly. It's fair though. They voted for this shit and now I agree should be the ones to take the brunt of the failure. Kinda funny how fixing SS must have some element of reducing the cost of it isn't it?

No, I didn't.

-Back down ALL costs, prices, fees, to January 1, 2009 levels and hold them for 10 years.

So Bush levels of spending. I'm good with that. Bush was a spender but obie is even worse, let's go back to Bush and pay all of this off. Well, that's if we can survive your stupid ass minimum wage bullshit. It's a long shot.

-Keep in mind that we are currently paying off tens of billions in Bush voter mistakes. It will be 2016 until most is payed down.

-Recall ALL off-shore investments tax free, and disallow any further off-shore investments.

Nicely done, if only we could find a way to not only destroy people's 401k's invested in off shore companies but actually get our corps to contract and only do business here. Well, you found a way my man! We wouldn't want to lower our tax rates on off shore but eliminate it all together! And you found the solution. Congrats.

-I was unaware that people had 401k's in off-shore investments. Can you name one?

You are a one percenter on the level of Paris Hilton. A dingbat fucking retard living the life that you never had to earn. But you sure have some ideas to throw out there. None of which would possibly make sense to anyone not born of the silver spoon.

-FYI: Ford took bailout monies!

 

[The Rabbi]

They do. The problem is there's not enough jobs. Corporate America is holding the middle class hostage because they want their subsidies back. My plan eliminates the loopholes and stimulates hiring, especially in small businesses by reducing the number one expense of hiring to a maximum of taxes paid.

It also stimulates the welfare class. Would you rather make payments from welfare or $48k/yr? Simple choice, since everyone will be hiring I'm removing the 'I can't find a job' off the table.

Costs of goods for business will stay the same.

Profits won't be capped because every American will receive a HUGE raise and buy more product thus enhancing profit.

Corporate America is holding the middle class hostage because they want their subsidies back. I'm giving them their subsidies, but in a way that stimulates the middle class and the economy instead of just enhancing their bottom line.

Have you ever taken an Econ class in your life? Read a text book? Looked at a Wiki article on the topic? I mean, no one who did any of that would post such stupid bullshit.

I hold a Masters Degree in Business from Columbia University.

Unless you're planning on taking over the world economy and holding prices steady throughout the world, the plan is a fail.
Again, so if you increse costs to business but dont allow them to pass those increased costs on to the consumer, how will business even survive, much less hire anyone?
You have never been to Columbia University, much less taken a degree there. You couldn't find Columbia on a map. Quit pretending.

 

[editec]

After World War II, the US government experienced moderately high inflation for about a decade or so, accompanied by high tax rates and an economically booming economy. These all served to produce an incredibly rapid reduction of debt-to-GDP from 116% in 1945 down to 64% just ten years later.

America also had the only functioning large scale industrial consumer economy left in the world.

We make as much stuff as we always have. It just takes less people to do it. We are far more productive than we have ever been.

VERY TRUE.

Our children need to be trained for the workforce needs of tomorrow, not yesterday.

WE cannot train our children as rapidly as technology is making most of them redundant.

Sad isn't it? Tecnology is not merely eliminating low skill jobs...it is eliminating MOST jobs humans can do in the next 90 years or so.

There's two possible solutions to this problem:

1. Change the social contract such that people who bearly work make a living OR

2. IMPROVE humans such that they become part human part machine.

That is what Common Core is trying to achieve. The Right championed Common Core until Obama decided it was a good thing, too. Then the Right suddenly decided if Obama likes it, it must be satanic or something.

I am going to tell you exactly what I have told every POL I ever met who yammered on poetic about how EDUCATION will solve this problem.

NO, it won't​

At best better education might help some of us some of the time for a while.

But unless YOU are on top of your field, and unless your field demands massive CREATIVE THINKING, your job and YOU are replacable sooner rather than later.


I do not give a rat's ass how smart you are the machine logic algorithms aregoing to make you ECONOMICALLY redundant.

 

[The Rabbi]

Goods and service prices are locked down, how would there be any inflation?

Oh no, it could never happen! Liberals are seriously dementted people.

FYI: There never was a gas shortage.

I guess all those lines and rationing schemes were just made up.

 

[Little-Acorn]

We haven't paid off a dime of the National Debt since before WWII.

(Well, I lied, there were a few years in the mid 1950s when the Natl Debt went down, from $274 billion to $270 billion, we paid off a whopping 1-1/2% of it before it shot back up the following year and has never come down again)

People thought $270 billion was huge, back then. Now it's $17 *trillion*.

So how come we aren't fiscally dead and buried by now? Easy. We made each dollar, worth a lot less. So the VALUE we now owe, is a lot less than it would have been. Neat trick, eh?

If you're wondering whose pocket all the VALUE vanished from to "pay off" the Natl Debt, consider the guy who saved up $15,000 in 1950. That was enough to buy ten pretty good, brand new cars then. If he saved it until now, it would be barely enough to buy one new car, and a cheap one at that.

That's the guy who paid off the National Debt. Him and his friends. And he probably didn't even realize he was doing it. And he's probably wondering why he can only buy one new car now instead of ten. Where did the other nine cars go?

If you're wondering if we are going to see inflation or deflation soon, the answer is: If we see any deflation at all, it won't last long. We've got a TON more debt to pay off. So we'll see almost entirely INflation, as far as the eye can see, from now on. It's the only way to pay it off.

And if you were wise enough to follow your grandfather's advice and save your money... YOU ar the one who will pay. Kiss most of your savings good-bye. Sucker.

Have you ever wondered why the government has never put a tax on savings and wealth?

Ha ha, fooled you. They HAVE put a tax on wealth, and it's been going for decades. It's called Inflation. And YOU have been paying it. That's why you're not rich now. Sucker.

1. You don't want deflation because people aren't going to spend their money today when they know it will be worth more tomorrow.

That's like saying You don't want INflation because people aren't going to lend any money, because they know they will be paid back with less value than they lent.

Umm, have you noticed anybody being reluctant to lend?

We've had inflation since WWII (actually earlier), and all that time, people have lent us enough to rack up a $17 trillion debt.

No, it's the government that "doesn't want deflation"... because then they won't be able to pay their debts in their usual way: by inflating it away.

 

[The Rabbi]

We haven't paid off a dime of the National Debt since before WWII.

(Well, I lied, there were a few years in the mid 1950s when the Natl Debt went down, from $274 billion to $270 billion, we paid off a whopping 1-1/2% of it before it shot back up the following year and has never come down again)

People thought $270 billion was huge, back then. Now it's $17 *trillion*.

So how come we aren't fiscally dead and buried by now? Easy. We made each dollar, worth a lot less. So the VALUE we now owe, is a lot less than it would have been. Neat trick, eh?

If you're wondering whose pocket all the VALUE vanished from to "pay off" the Natl Debt, consider the guy who saved up $15,000 in 1950. That was enough to buy ten pretty good, brand new cars then. If he saved it until now, it would be barely enough to buy one new car, and a cheap one at that.

That's the guy who paid off the National Debt. Him and his friends. And he probably didn't even realize he was doing it. And he's probably wondering why he can only buy one new car now instead of ten. Where did the other nine cars go?

If you're wondering if we are going to see inflation or deflation soon, the answer is: If we see any deflation at all, it won't last long. We've got a TON more debt to pay off. So we'll see almost entirely INflation, as far as the eye can see, from now on. It's the only way to pay it off.

And if you were wise enough to follow your grandfather's advice and save your money... YOU ar the one who will pay. Kiss most of your savings good-bye. Sucker.

Have you ever wondered why the government has never put a tax on savings and wealth?

Ha ha, fooled you. They HAVE put a tax on wealth, and it's been going for decades. It's called Inflation. And YOU have been paying it. That's why you're not rich now. Sucker.

1. You don't want deflation because people aren't going to spend their money today when they know it will be worth more tomorrow.

That's like saying You don't want INflation because people aren't going to lend any money, because they know they will be paid back with less value than they lent.

Umm, have you noticed anybody being reluctant to lend?

We've had inflation since WWII (actually earlier), and all that time, people have lent us enough to rack up a $17 trillion debt.

No, it's the government that "doesn't want deflation"... because then they won't be able to pay their debts in their usual way: by inflating it away.

No they arent remotely comparable.
Japan has had deflation for years. The results arent pretty.

 

[RKMBrown]

We haven't paid off a dime of the National Debt since before WWII.

(Well, I lied, there were a few years in the mid 1950s when the Natl Debt went down, from $274 billion to $270 billion, we paid off a whopping 1-1/2% of it before it shot back up the following year and has never come down again)

People thought $270 billion was huge, back then. Now it's $17 *trillion*.

So how come we aren't fiscally dead and buried by now? Easy. We made each dollar, worth a lot less. So the VALUE we now owe, is a lot less than it would have been. Neat trick, eh?

If you're wondering whose pocket all the VALUE vanished from to "pay off" the Natl Debt, consider the guy who saved up $15,000 in 1950. That was enough to buy ten pretty good, brand new cars then. If he saved it until now, it would be barely enough to buy one new car, and a cheap one at that.

That's the guy who paid off the National Debt. Him and his friends. And he probably didn't even realize he was doing it. And he's probably wondering why he can only buy one new car now instead of ten. Where did the other nine cars go?

If you're wondering if we are going to see inflation or deflation soon, the answer is: If we see any deflation at all, it won't last long. We've got a TON more debt to pay off. So we'll see almost entirely INflation, as far as the eye can see, from now on. It's the only way to pay it off.

And if you were wise enough to follow your grandfather's advice and save your money... YOU ar the one who will pay. Kiss most of your savings good-bye. Sucker.

Have you ever wondered why the government has never put a tax on savings and wealth?

Ha ha, fooled you. They HAVE put a tax on wealth, and it's been going for decades. It's called Inflation. And YOU have been paying it. That's why you're not rich now. Sucker.

Uhmm those cars you bought way back when... if you kept them nice they would be classics today worth a ton of money.

When people say save your money they mean in an account that earns enough interest to at least keep up with inflation, they don't mean in a mattress in the back yard.

But yes, reducing the value of the dollar is one way to reduce the true cost of the deficit (sans interest paid on it). This assuming the value of the dollar goes down vs labor rates and/or whatever sector it is that we are punishing with taxes. The problem with this particular deficit number is the % of debt to real production. It used to be our debt was small compared to real production. But now that we are a libtarded nation, that has flipped and the real production of this country is small compared to its debt. The same thing happened to Japan. They went socialist and buried themselves in government spending.

 

[OnePercenter]

Costs of goods for business will stay the same.

Profits won't be capped because every American will receive a HUGE raise and buy more product thus enhancing profit.

Corporate America is holding the middle class hostage because they want their subsidies back. I'm giving them their subsidies, but in a way that stimulates the middle class and the economy instead of just enhancing their bottom line.



I hold a Masters Degree in Business from Columbia University.

Unless you're planning on taking over the world economy and holding prices steady throughout the world, the plan is a fail.

Why, aren't products sold from overseas sold through distributors here in the US? Doesn't effect/affect the world prices.

Again, so if you increse costs to business but dont allow them to pass those increased costs on to the consumer, how will business even survive, much less hire anyone?

Costs for business product will remain the same. Small business costs for employees will reduce to the level of taxes owed. Any cost above that amount will be subsidized.

You have never been to Columbia University, much less taken a degree there. You couldn't find Columbia on a map. Quit pretending.

Oh. but i did earn a Masters at Columbia.

 

[OnePercenter]

Oh no, it could never happen! Liberals are seriously dementted people.

FYI: There never was a gas shortage.

I guess all those lines and rationing schemes were just made up.

It was collusion. You don't remember the fines imposed on the oil companies in the 80's, or the oil companies not being able to spend their ill-gotten gains? Do a search for Chevron Land Development and look at the dates of inception.

 

[Missouri_Mike]

-That would be nice. Think about the extra monies floating into the economy rather than some rich guys holding account, or the $100 Trillion currently locked down by corporate America.

Well the quote function went to shit so let's focus on this.

So you think people getting their wages increased by triple is somehow going to result in more people getting money to spend. I agree they would have more to spend, they would be spending about triple on what current item's cost. There is no gain to be had here. All we can get from that is bigger numbers of money spent but the purchasing power of everyone with those big bucks drops to the same level we have now.

If you increase the wages you increase the cost of production. You can make yourself all happy with increasing wages but in the end it only increases the cost of goods at an equal amount.

Corporations aren't going to just increase wages they will increase the sales cost of their products to make up for it. And while they do that their 10% profit margin will increase accordingly. 10% of people working for 10 bucks an hour equals a dollar. If that labor rate goes up to 20 the same 10% applies. You can't get higher wages without increasing the sales price of products. It's impossible.

 

[Vigilante]

 

[The Rabbi]

Why, aren't products sold from overseas sold through distributors here in the US? Doesn't effect/affect the world prices.



.

OMG!!! You didnt just write that, did you?
There is no inflation. I checked my bank balance today and it was the same as yesterday.
Yes, you would really say that.

You couldn't spell Columbia without spell check, much less ever have gone there.

 

[The Rabbi]

FYI: There never was a gas shortage.

I guess all those lines and rationing schemes were just made up.

It was collusion. You don't remember the fines imposed on the oil companies in the 80's, or the oil companies not being able to spend their ill-gotten gains? Do a search for Chevron Land Development and look at the dates of inception.

So fines were imposed on oil companies in the 1980s for something that happene din the early 70s?
Sonny boy, I was there. There was a shortage of gas. Everyone with two functioning brain cells agrees on this. Since you dont have two functioning brain cells you dont get it.

 

[depotoo]

I guess all those lines and rationing schemes were just made up.

It was collusion. You don't remember the fines imposed on the oil companies in the 80's, or the oil companies not being able to spend their ill-gotten gains? Do a search for Chevron Land Development and look at the dates of inception.

So fines were imposed on oil companies in the 1980s for something that happene din the early 70s?
Sonny boy, I was there. There was a shortage of gas. Everyone with two functioning brain cells agrees on this. Since you dont have two functioning brain cells you dont get it.

I remember us waiting in lines a half mile long for our 5 gal. allotment and getting within a cars length and having them run out. And then hoping you had better luck at the next station, if you could find one with gas still, and hoping you won't run out trying to find it or in line again, or, once again luck isn't on your side and they run out before you get to the pump. I saw cars having to be pushed up to the pump. Young people today have no idea. It was even worse than after a hurricane, because you know that things will return to normal fairly soon, and usually store some gas to get you through.