National Debt

Races for the Senate, U.S. House, etc. and other issues of national importance.
Huckleby
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National Debt

Postby Huckleby » Wed Oct 16, 2013 11:48 pm

Now that the teatards have been slapped down it would be tempting for Obama to push for immigration reform, or another program favored by Dems. I think it is smarter to use this moment to achieve a grand bargain on the long term debt. Trade entitlement cuts for new revenues. This is a moment where the Republicans might be open to productive negotiations.

If he got such a deal, his status would soar with most Americans, and he would have winds at his back on immigration, carbon caps.

For planning purposes, assume that the Republicans will hold the House for many years.

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Re: National Debt

Postby Stella_Guru » Thu Oct 17, 2013 7:40 am

Huckleby wrote: Trade entitlement cuts for new revenues....If he got such a deal, his status would soar with most Americans......

Oh really. Please explain.

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Re: National Debt

Postby wack wack » Thu Oct 17, 2013 8:12 am

There should be NO budget talks that do not include SIGNIFICANT cuts to corporate welfare.

Huckleby
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Re: National Debt

Postby Huckleby » Thu Oct 17, 2013 9:30 am

wack wack wrote:There should be NO budget talks that do not include SIGNIFICANT cuts to corporate welfare.


well, closing loopholes is the idea. Both corporate and personal income taxes

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Re: National Debt

Postby Huckleby » Thu Oct 17, 2013 9:32 am

Stella_Guru wrote:
Huckleby wrote: Trade entitlement cuts for new revenues....If he got such a deal, his status would soar with most Americans......

Oh really. Please explain.


The country is on the path to fiscal bankruptcy, especially with medicare. Americans are broadly and correctly worried about the unfairness of the debt that we are passing on to subsequent generations.

Now, the sticking point is what to do about it. But that's where give-and-take negotiations will come in.

peripat
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Re: National Debt

Postby peripat » Thu Oct 17, 2013 9:37 am

This country is on the path to fiscal bankruptcy largely because we have set aside our old fashioned values, you know, like taxing the rich, estate taxes, corporate taxes, making sure that those who benefit most from the country pay something towards its upkeep. Blaming anything else at this point is just a right wing fantasy.

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Re: National Debt

Postby wack wack » Thu Oct 17, 2013 9:49 am

Huckleby wrote:
wack wack wrote:There should be NO budget talks that do not include SIGNIFICANT cuts to corporate welfare.


well, closing loopholes is the idea. Both corporate and personal income taxes


Closing loopholes isn't enough; subsidies need to go too.

Sick and tired of hearing that the American people aren't giving enough while corporations rob us blind.

Rich Schultz
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Re: National Debt

Postby Rich Schultz » Thu Oct 17, 2013 9:58 am

peripat wrote:This country is on the path to fiscal bankruptcy largely because we have set aside our old fashioned values, you know, like taxing the rich...


Image

Image

wack wack
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Re: National Debt

Postby wack wack » Thu Oct 17, 2013 9:59 am

Still not enough.

Rich Schultz
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Re: National Debt

Postby Rich Schultz » Thu Oct 17, 2013 10:02 am

Pigford.

Huckleby
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Re: National Debt

Postby Huckleby » Thu Oct 17, 2013 10:03 am

wack wack wrote: Closing loopholes isn't enough; subsidies need to go too.

Sick and tired of hearing that the American people aren't giving enough while corporations rob us blind.


Most subsidies come in the form of tax breaks. I think ag subsidies are not typical, but they are offensive.

Huckleby
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Re: National Debt

Postby Huckleby » Thu Oct 17, 2013 10:05 am

Looking at the percentage of taxes paid by upper income people is dumb, even though Republicans won't let go of that deceptive stat. The rich are paying more of the taxes because wealth has shifted to the top.


BTW, I think tax reform is the one area where Dems & Repubs are in close agreement. Repubs won't reform to be "revenue neutral", but the basic mechanisms are accepted by both sides.

Huckleby
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Re: National Debt

Postby Huckleby » Thu Oct 17, 2013 10:09 am

The Tea Party achieves a measure of legitimacy for their claim to care about the national debt. (They are actually more interested in reducing taxes than reducing the debt, and that bluff ought to be called.)

By dealing with the national debt problem in a balanced way, all the wind is taken out of the sails of the already weakened tea party.

We do have to fix the national debt, and no reason not to get started.

peripat
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Re: National Debt

Postby peripat » Thu Oct 17, 2013 10:10 am

I understand that it is an item of faith for the far right that people with money should not have to be bothered with taxes, but truly, the people with most of the money should be paying most of the taxes.
And fairness does not mean everybody should pay the same amount, our taxes are progressive after all. A rich man pays as much tax on the first $30,000 of income as someone who makes only $30,000, as much on his first $60,000 as someone who makes only $60,000. They don't pay more until they make more.
And corporations manage to slurp up every available dollar from every available source- government, consumers, their own employees, and still blackmail governments into providing them with more welfare.
The only real solution to the national debt is tax, and taxing where the money is instead of trying to cut out the little bits individuals get.
And since basically every developed country in the world has decided health care is a human right it is pretty regressive to even suggest that is where the cuts should begin.

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Re: National Debt

Postby wack wack » Thu Oct 17, 2013 10:12 am

Let's make taxes inverse to your economic status... in the top 1%? Pay 99%.


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