Where will the money come from to pay for HR 1?

[Orangecat]

Are you joking? Taxation is revenue. When you cut taxes it effects revenue and you don’t think that effects the deficit?! Wow you know even less about economics than I thought.

Spending causes debt, not lowered revenues. You either failed logic or just have none.

 

[usmcstinger]

What could HR1 possibly cost? It's a voting rights bill, no?

https://www.congress.gov/bill/117th-congress/house-bill/1/text?q={"search"%3A%5B"hr1"%5D%7D&r=1&s=2

I think you need to read it.

 

[Care4all]

What could HR1 possibly cost? It's a voting rights bill, no?

https://www.congress.gov/bill/117th-congress/house-bill/1/text?q={"search"%3A%5B"hr1"%5D%7D&r=1&s=2

I think you need to read it.

I was trying not to read through it all and hoping for the short story version, from you...

Ok, fine....humph! I'll go and read it.....

 

[usmcstinger]

Economic 101: Demand, Supply and Price
If you do not understand the relationship between the 3, you will never understand economics.

 

[Winston]

Is that why Tax Cut economics is a standard operating procedure for the republicans?

Tax cuts don't add a penny to the deficit or debt. Spending does. Learn to think.

Did you just say that? Seriously? Well damn, I guess I will quit my job. It won't add to my debt so everything will be fine.

 

[danielpalos]

Is that why Tax Cut economics is a standard operating procedure for the republicans?

Tax cuts don't add a penny to the deficit or debt. Spending does. Learn to think.

lol. Paying less for existing spending does create massive federal budget deficits. Only right wingers are that disingenuous while alleging the morals of Good Christians instead of false Christians.

 

[Winston]

Economic 101: Demand, Supply and Price
If you do not understand the relationship between the 3, you will never understand economics.

So, lets run with that. First, Demand. Seems the demand for US Treasuries is off the chain. In Finance, they call the interest rate on US Treasuries the "risk-free" rate. The supply, well that is our national debt. Evidently, we can increase our debt even further. Because price? Well there have been periods where the interest rate was actually negative. I mean people were paying the government to loan them money.

 

[Winston]

Well if you’re so rational then why don’t you rationally tell me how it is going to cause me or you problems?

I never claimed it would cause you or I problems. That's called a straw man argument employed by you.
Someone is going to have to pay it back, and here you are agreeing:

Do you think we should default on paying it back?

No way, why would we do that?

So you think paying back $28 trillion dollars won't be a detriment to those who eventually have to do it? Grow up and stop advocating borrowing money for someone else to repay.
If we can't even agree that holding and growing the highest debt in human history is a ticking time bomb, there's no need to continue this discussion. I'm not going to play that silly liberal game of "debt is good". It's not. It's spending money you don't have for immediate gratification, instead of staying within your means and controlling your inner child that's having a tantrum in the candy aisle.

Actually, that $28 Trillion is "immediate" Deficit on the annual national budget, essentially unfunded and "borrowed" by printing money to cover the "bonds" "sold" to the Treasury. There's a sort of Ponzi scheme playing out but since it's by the Guv'mint it's "Legal" ~ sort of. Financially it's still Debt and a drag down on the dollar and it's purchase power, etc. ...

The larger Problem some might not pick up on in the link I just provided above is the "Unfunded Liabilities" portion such as: "Social Security", Government Pensions and Benefits, and Interest and Principal on the Deficit/Debt, ETC.; to the tune of another @$160 trillion.

So rounding off, at this time, there's about a $190 Trillion Debt load owed payment upon Principle of by the about 330 million USA Citizens. Of which ONLY about 125 million (just over a third) are actual "TaxPayers".

Put another way, almost two thirds of our nation are the "freeloaders" riding on the debt and redistributed wealth of the other third and those are resources rapidly shrinking. So get ready for a near future "Big Bust of Economy/Dollar" folks.

https://www.usdebtclock.org/

The whole unfunded liabilities thing is total bullshit. It has nothing to do with finance or economics. It is a meme really, cooked up by Republicans who want to cut programs like Social Security. I mean do you know a family that sits around their kitchen table and worries about unfunded liabilities, like a car for their two year old son, college tuition at Harvard for their five year old. Sure, there might be some planning going on, but they sure as hell not going to call those things "unfunded liabilities" and stress out about them. I mean the word "liabilities", it is being misused here. Hell, Covid-19 probably reduced those "unfunded liabilities" by hundreds of millions of dollars. I mean half a million DEAD. Yeah, I thing it might have just made up for the cost of Trump's ignorant ass corporate tax cut.

 

[Orangecat]

Did you just say that? Seriously? Well damn, I guess I will quit my job. It won't add to my debt so everything will be fine.

Are you f'n retarded? Quitting your job doesn't add to your debt. It may prevent you from paying it off, but it adds nothing to it.

 

[Winston]

Did you just say that? Seriously? Well damn, I guess I will quit my job. It won't add to my debt so everything will be fine.

Are you f'n retarded? Quitting your job doesn't add to your debt. It may prevent you from paying it off, but it adds nothing to it.

Bingo

 

[Orangecat]

Bingo

There was a farmer who had a dog.

 

[Slade3200]

Are you joking? Taxation is revenue. When you cut taxes it effects revenue and you don’t think that effects the deficit?! Wow you know even less about economics than I thought.

Spending causes debt, not lowered revenues. You either failed logic or just have none.

Haha. You’re not serious are you? You messing with me?

 

[Slade3200]

Did you just say that? Seriously? Well damn, I guess I will quit my job. It won't add to my debt so everything will be fine.

Are you f'n retarded? Quitting your job doesn't add to your debt. It may prevent you from paying it off, but it adds nothing to it.

Haha. Dude you are killing me. If you spend $100 and make $100 in revenue your deficit and debt is $0. If you spend $100 and make $0 in revenue your deficit and debt are $100. I can’t believe I needed to explain that.

 

[Orangecat]

Spending causes debt, not lowered revenues. You either failed logic or just have none.

Haha. You’re not serious are you? You messing with me?

Spending more than you have is what causes debt. Do you deny this?

 

[Orangecat]

If you spend $100 and make $0 in revenue your deficit and debt are $100.

Thanks for agreeing with me that spending is the cause of debt. You're so fucking dim that you just undermined your own position, kid.

 

[Slade3200]

Spending causes debt, not lowered revenues. You either failed logic or just have none.

Haha. You’re not serious are you? You messing with me?

Spending more than you have is what causes debt. Do you deny this?

Of course I don’t deny that... what you “have” is from Revenue!!! Wow you’re slow

 

[Slade3200]

If you spend $100 and make $0 in revenue your deficit and debt are $100.

Thanks for agreeing with me that spending is the cause of debt. You're so fucking dim that you just undermined your own position, kid.

If you make $100 and spend $50 you’re not in debt smart guy. Why are you even trying to talk about this subject? You’ve got zero understanding how the most basic shit works.

 

[Orangecat]

Of course I don’t deny that... what you “have” is from Revenue!!! Wow you’re slow

If I'm slow, you're going in reverse. Debt comes from spending, not from lack of income.

 

[Orangecat]

If you make $100 and spend $50 you’re not in debt smart guy. Why are you even trying to talk about this subject? You’ve got zero understanding how the most basic shit works.

Stop embarrassing yourself, kid.
Debt comes from spending.
No spending=no debt.

 

[Slade3200]

Of course I don’t deny that... what you “have” is from Revenue!!! Wow you’re slow

If I'm slow, you're going in reverse. Debt comes from spending, not from lack of income.

It comes from both dumbass... revenue minus expenses equals your profit/loss