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1. Agreed. Republicans always point to the Reagan tax cuts as "proof". Tax cuts haven't done anything since Reagan.And that doesn't work. It doesn't actually add any money for investment. The debt is financed by T-bills, which takes the tax savings right back out of the economy.
That does work.
Economies grow from the demand side, not the supply side. If there's demand, someone will supply it.
Democrats understand that, so Democrats create better economies.
the problem with that thought path is then spending will continue to go up anyway.You can't IGNORE the problem. It won't go away. We spend more than we take in.
$32T interest payments are approaching $400b a year, soon to be $800b a year.
Republicans are trying to avoid a disaster w/o cutting Defense.
You have NOT put forward a better or more workable plan to solve the Debt crisis.
Just keep raising the VAT tax as the bandaid, and not resolve the underlying issue? I got it, KYZR1. BULLSHIT. Stick with FACTS, not FANTASY.
We have a sales tax here in PA. Its 6%, and has been 6% since the 1970s. The PA income tax sneaks up a little every so often, but its not the killer tax that dem states like NY and CA have.
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2. The US economy is 70% merchandising, so if the small sales tax went too high sales would suffer and the donor class would beat the sales tax back down to profitability. All you are doing is whining about something that won't happen.
3. You want to cut $1Trillion in spending? Okay tell me what specifically you would cut. Remember SS is going insolvent in 2035 and Medicare is going bankrupt in 2024. Here's the Budget:
Discretionary Spending
Defense $753b
Non-defense $733b
Total $1.49T
Mandatory Spending
Social Security $1,115b
Medicare 746b
Medicaid 452b
Other 660b
Interest on Debt 379b
Total $3.39T
www.heritage.org
I think we should have a federal consumption tax, not to replace all other taxes, but to be earmarked for the deficit.
If Congress spends more than the tax would cover, the consumption tax would simply go up. If they spend less than the taxes collected, it goes towards our national debt.
People are not concerned about spending because it doesn't impact their lives. If everybody had to pay (poor, rich, middle-class) then more people would demand spending reduction. They would be pissed about spending money like 100 billion on Ukraine, or several hundred billion on something we can't control like climate. Or the millions Democrats are going to spend in the 1.7 trillion dollar bill that funds museums for LGBTQRST people, a wax museum for black people, and a trail named after Mooochell Obama.
And that doesn't work. It doesn't actually add any money for investment. The debt is financed by T-bills, which takes the tax savings right back out of the economy.
That does work.
Economies grow from the demand side, not the supply side. If there's demand, someone will supply it.
Democrats understand that, so Democrats create better economies.
1. There is no band-aid, just a workable solution, a Fed sales tax.Just keep raising the VAT tax as the bandaid, and not resolve the underlying issue? I got it, KYZR
It's your "workable plan". We don't fix it, we just bend over and take it.
Keep it on the fed level and not the state level, those are two different animals.
Unmitigated madness."Payroll taxes, which finance Social Security and Medicare, would also get axed," explained Forbes. "The IRS would go. States would collect the sales levy and remit proceeds to Washington."
It seems that's what Republicans want.We would end up like Greece.
Not only that but democrats understand that to remain a world power that we need constant investment. Investment into our infrastructure, leadership in science and the very best in literally every way. china wants to beat us and is slowly doing so but republicans would literally hand the golden cup to our enemies. this would happen even faster by weakening the middle class with higher taxes on people that can hardly afford housing, food and to take part in the economy.
We also wouldn't be able to maintain our military without this leadership and economic strength.
Republicans are now trying to shift taxes from the wealthy to the middle class by imposing a 30% national sales tax on everything you buy— groceries, cars, homes, health care, tuition. They’re calling it the “Fair Tax Act” because they think taxes on the wealthy are unfair.
Good way to be thrown out on your asses in 2024!
Yeah....we have a spending problem, that is the issue that needs to be addressed.1. There is no band-aid, just a workable solution, a Fed sales tax.
I gave you the chance to cut spending, you couldn't cut your way out of the fiscal mess.
2. No one is raising the VAT. They won't even raise the Debt Limit, duh.
Yeah....we have a spending problem, that is the issue that needs to be addressed.
Not with a Band-Aid of a never ending ceiling for a "fed sales tax". That just gives them
a green light for more out of control spending. You do know how a career politician thinks.
You and I agree on most issues, this just isn't going to be one of them.
True that we agree on most issues. I'm a math guy, not a paranoid guy.Yeah....we have a spending problem, that is the issue that needs to be addressed.
Not with a Band-Aid of a never ending ceiling for a "fed sales tax". That just gives them
a green light for more out of control spending. You do know how a career politician thinks.
You and I agree on most issues, this just isn't going to be one of them.
Look at it anyway you want. I don't want to look like the EU or any other shit country with their taxes.True that we agree on most issues. I'm a math guy, not a paranoid guy.
1. A Fed sales tax stops the Budget Deficit.
2. You can't cut spending, or won't cut spending. I'll suggest a Grace Commission-II, to make recommendations how to streamline the Federal government and eliminate waste. But even that won't come close to closing the fiscal gap, $1.0Trillion.
You're out of options. Its the Fed sales tax, or the US economy crashes and burns as the DEBT skyrockets, pick one.
Ray, look what the democrats are doing right now, they are buying votes with perks, it seems to work.If everybody has a dog in the race there would be more opponents of out of control spending. Currently nobody really cares. The Dems just passed a 1.7 trillion dollar bill? Doesn't affect me any. Tomorrow will be just like any other day.
When spending does take place it needs to effect all of us to bring it under control. Your vote to pay college debt increased my sales tax? You're not getting my vote next election, that's for sure.
There are proposals to send checks to the lower classes if there are discrepancies like you typed. The underground economy may not like these plans.Republicans are now trying to shift taxes from the wealthy to the middle class by imposing a 30% national sales tax on everything you buy— groceries, cars, homes, health care, tuition. They’re calling it the “Fair Tax Act” because they think taxes on the wealthy are unfair.
Good way to be thrown out on your asses in 2024!
We’re not out of options. Simply return the tax code to what it was pre Regan cuts. We only started seeing huge deficits after.True that we agree on most issues. I'm a math guy, not a paranoid guy.
1. A Fed sales tax stops the Budget Deficit.
2. You can't cut spending, or won't cut spending. I'll suggest a Grace Commission-II, to make recommendations how to streamline the Federal government and eliminate waste. But even that won't come close to closing the fiscal gap, $1.0Trillion.
You're out of options. Its the Fed sales tax, or the US economy crashes and burns as the DEBT skyrockets, pick one.
What is the tax rate on capital gains?Flat Tax with no cut-outs......It's the only way to be sure.
I could care less if some rich guy can afford it more than I can....At least he will pay the same rate as his secretary does.
That and I'd not mind seeing tax lawyers/tax preparers having to "learn to code".
