Obama: Winning the future through higher taxes

[mrjarrell]

Hate to say it, but taxes are going to go up, if they really want to get the true deficit under control. No-one, on either side of the aisle, has the courage to make the cuts and shut down the parts of government that need to be eliminated. That leaves them very little room to maneuver and tax increases will have to be made. Look at this recent spending bill debacle. They cut only fractions of a percent and managed to give even more money to the Pentagon, one of the gop's favourite charities. No-one has the courage to do what's necessary and no-one will even listen to the few that actually have a clue. As ATOM said, beans and bullets. It's all destined to burn.

 

[drobpk]

FICA a Tax

Remember, "people"=small businesses, so the coffee shop, the restaurant, the gun shop, inter alia who have a AGI at 250K will be affected.



Remember, you never had it. FICA is a tax and the government doesn't owe you a thing . . . just ask the Supreme Court.

Technically speaking you are correct. You are referring to the 1960 case of Flemming v. Nestor. But in that case, benefits were denied because the individual was a Communist and was deported.

Regardless of this ruling, through acts of Congress, the money in the Social Security fund has been raided. This is morally reprehensible due to the fact that it was not a loan. The money was Stolen, period.

I stand by mey previous statement. Social Security was a Ponzi scheme from the start, but cutting the benefits accross the board of senior citizens who have been forced to pay into it is worse than what Bernie Nadoff did. At least those people had a choice as to where to put their money!!

 

[ATOMonkey]

No money was ever "stolen" The social security "trust fund" has always been funded with government securities. The treasury is not allowed to just keep and hold currency.

 

[rambone]

Shocker #1

Obama says his plan will trim $4T in the next 10 years from the "deficit."

Paul Ryan's plan wasn't much better, but the article covers some figures that show just how horrible our coming economic Armageddon is going to be. Over the time that the administration's budget could trim $4T from the deficit, we're going to build up to a $76T-- at least 19 times that-- total national debt.


Rep. Paul Ryan: Obama's New Budget will Litereally Crash the U.S. Economy

 

[rambone]

Shocker #2

The CBO says that the big budget debate was actually over less than 1% of the money that they claimed it to be.

The empire is burning.

AMERICANS WERE LIED TO: CBO Says Budget Deal Cuts Just $353 Million, Not $38 Billion

 

[ATOMonkey]

Obama says his plan will trim $4T in the next 10 years from the "deficit."

Paul Ryan's plan wasn't much better, but the article covers some figures that show just how horrible our coming economic Armageddon is going to be. Over the time that the administration's budget could trim $4T from the deficit, we're going to build up to a $76T-- at least 19 times that-- total national debt.


Rep. Paul Ryan: Obama's New Budget will Litereally Crash the U.S. Economy

yep, just smaller increases. Still driving toward the cliff. The end is near, unfortunately...

 

[steveh_131]

The empire is burning.

Shown here: Rambone's room

Note: The dresser is filled with anti-vaccine literature.

 

[ATOMonkey]

President referred to tax increases as "Spending Reductions in the Tax Code."

If that doesn't say it all right there.

 

[model67a]

Obama said in his speech that the American way of life would cease to be under the Republican proposal. It has to if we are going to save the country. The government has done what they have been chastising the people for. They have taken on more debt than they can pay for, just like the credit card debt that so many Americans can relate to. This addiction to wanting all of the best without a means to pay for it is like a heroin addiction. If you do not stop it , it will eventually kill you. Stopping an addiction, whether it be chemical or monetary , is going to be painfull, but the alternative is much worse!! It is always nice and alluring to have all the best in life but sooner or later you have to pay for it. By demanding and getting from the government all the best the people have made us dependent on the worst country we could be endebted to(China). We have to get out of this dependence on them. They talk about out dependence on foreigh oil but we have a dependence in China for finances. The road to getting out of this mess is going to be painfull but it is a whole lot better than the alternative!!!!

 

[ATOMonkey]

We do owe china a lot, but not the most.

News Headlines

 

[dross]

President referred to tax increases as "Spending Reductions in the Tax Code."

If that doesn't say it all right there.

Is that really true or just one of your funny one-liners? 'Cause that is brilliant. Right up there with:

War is peace
Freedom is slavery
Ignorance is strength

Welcome to Oceania.

 

[ATOMonkey]

He said it SEVERAL times in his most recent speech.

I'm listening to his speech on Beck right now.

 

[dross]

Hate to say it, but taxes are going to go up, if they really want to get the true deficit under control. No-one, on either side of the aisle, has the courage to make the cuts and shut down the parts of government that need to be eliminated. That leaves them very little room to maneuver and tax increases will have to be made. Look at this recent spending bill debacle. They cut only fractions of a percent and managed to give even more money to the Pentagon, one of the gop's favourite charities. No-one has the courage to do what's necessary and no-one will even listen to the few that actually have a clue. As ATOM said, beans and bullets. It's all destined to burn.

Raising tax rates only increase tax revenue in certain situations. With the economy as it is now, raising tax rates will almost certainly decrease tax revenues, with the side effect of increasing everbody's misery from two directions.

 

[dross]

He said it SEVERAL times in his most recent speech.

I'm listening to his speech on Beck right now.

That would be hilarious if it wasn't so chilling.

 

[dross]

Shown here: Rambone's room

Note: The dresser is filled with anti-vaccine literature.

EXACTLY how I pictured it.

 

[ATOMonkey]

He wants to reduce and/or eliminate deductions for interest and charitable giving. Just from what he has said in his speech. He said "we can't afford all these deductions for the rich."

BTW... who runs the IRS?

 

[ATOMonkey]

That would be hilarious if it wasn't so chilling.

Welcome to the brave new world.

 

[model67a]

We do owe china a lot, but not the most.

News Headlines

ATO, I was really referring to obligations to other countries. Owing the institutions is bad but owing another country is extremely bad!!!

 

[Jon Beaty]

Tea Party for life!

 

[ATOMonkey]

'meh, owing another country is not the worst thing in the world. They only own "the full faith and credit of the United States." Oh well...

The worst they can do is dump their securities (at a loss) in an attempt to inflate the dollar.

That only works if no one else buys up those securities, or the currency is kept out of circulation.

It's far far far worse that the Federal Reserve owns that much of our debt, because that means we're just printing money out of thin air, which makes other countries NOT want to buy our securities, which means we have to print more, and so on and so forth. It also means that interest rates will go up... a LOT.

It's very bad ju-ju.