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Old 10-28-2011, 02:28 AM
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Default The U.S. debt in terms we can all understand

The U.S. debt in terms we can all understand

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This helps to understand the US debt:
• U.S. Tax revenue: $2,170,000,000,000
• Fed budget: $3,820,000,000,000
• New debt: $ 1,650,000,000,000
• National debt: $14,271,000,000,000
• Recent budget cut: $ 38,500,000,000

Let’s remove 8 zeros and pretend it’s a household budget.
• Annual family income: $21,700
• Money the family spent: $38,200
• New debt on the credit card: $16,500
• Outstanding balance on the credit card: $142,710
• Total budget cuts: $385

CLEARER, huh?
If anyone thinks the rich has this money to balance this and shouldn't be done through cuts, then I fully expect them to go drumming with the rest of the dopes...
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Old 10-28-2011, 08:22 AM
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Default Re: The U.S. debt in terms we can all understand

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The U.S. debt in terms we can all understand

If anyone thinks the rich has this money to balance this and shouldn't be done through cuts, then I fully expect them to go drumming with the rest of the dopes...
Strawman again. Nobody thinks the rich can fix this. Some of us think the rich need to pay their share. We think the tax code is out of balance. That is why we are where we are in terms of the gap between the classes. The idea that you don't repair issues because they won't solve all the problem is stupid.
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Old 10-28-2011, 08:44 AM
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Default Re: The U.S. debt in terms we can all understand

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Originally Posted by Mikeyy View Post
Strawman again. Nobody thinks the rich can fix this. Some of us think the rich need to pay their share. We think the tax code is out of balance. That is why we are where we are in terms of the gap between the classes. The idea that you don't repair issues because they won't solve all the problem is stupid.
So 10% of the population paying 3/4 of the ****ing income taxes isn't "their share", huh? How much would be "their share"? Paying 100% of the income taxes?

Half the ****ing population pays zero income taxes. I think they should pay "their share".
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Old 10-28-2011, 08:47 AM
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Default Re: The U.S. debt in terms we can all understand

I can't see what you said. Great feature
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Old 10-28-2011, 09:15 AM
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Default Re: The U.S. debt in terms we can all understand

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I can't see what you said. Great feature
So now you've devolved to the "Mikeyy is ignoring rivrrat." level.
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Old 10-28-2011, 09:16 AM
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Default Re: The U.S. debt in terms we can all understand

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So now you've devolved to the "Mikeyy is ignoring rivrrat." level.
Been there for a while now.
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Old 10-28-2011, 09:32 AM
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Default Re: The U.S. debt in terms we can all understand

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Originally Posted by rivrrat View Post
So 10% of the population paying 3/4 of the ****ing income taxes isn't "their share", huh? How much would be "their share"? Paying 100% of the income taxes?

Half the ****ing population pays zero income taxes. I think they should pay "their share".
The only thing better than a tax someone else has to pay is a Federal program that gives me a big chunk of government cheese paid for by a tax on somebody else. Now that is "fair."
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Old 10-28-2011, 09:51 AM
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Default Re: The U.S. debt in terms we can all understand

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Originally Posted by Mikeyy View Post
Strawman again. Nobody thinks the rich can fix this. Some of us think the rich need to pay their share. We think the tax code is out of balance. That is why we are where we are in terms of the gap between the classes. The idea that you don't repair issues because they won't solve all the problem is stupid.
Oh I agree, we do need to start by implementing a partial solution. Since we agree cutting spending is necessary, let's start there with a number we can agree on. Let's see, taxing the wealthy more will produce a nominal revenue increase of $400 billion, it won't come anywhere close to that but we are negotiating. That leave us with $1 trillion in current fiscal year spending cuts.

Say, didn't that Ron Paul fella come up with a plan to cut, surprise, $1 trillion in current year Federal spending? By jiggity, he did. Can we count on your support to keep the country moving forward? Can we Mikeyy?
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Old 10-28-2011, 11:17 AM
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Default Re: The U.S. debt in terms we can all understand

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Originally Posted by rivrrat View Post
So 10% of the population paying 3/4 of the ****ing income taxes isn't "their share", huh? How much would be "their share"? Paying 100% of the income taxes?

Half the ****ing population pays zero income taxes. I think they should pay "their share".
That 10% also control 93% of the nations wealth so it would only make sense that they are taxed accordingly. Did you know that the bottom 90% are also saddled with 73% of all debt? Of course the real wealth in this country comes from investment assets, which the top 10% control near 87% of.

While near half pay no federal income tax, they still pay payroll tax, SS, medicare and state and local taxes etc. They pay no federal income tax because they generally do not make enough money to be taxed in the higher bracket.
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Old 10-28-2011, 11:50 AM
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Default Re: The U.S. debt in terms we can all understand

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That 10% also control 93% of the nations wealth so it would only make sense that they are taxed accordingly. Did you know that the bottom 90% are also saddled with 73% of all debt? Of course the real wealth in this country comes from investment assets, which the top 10% control near 87% of.

While near half pay no federal income tax, they still pay payroll tax, SS, medicare and state and local taxes etc. They pay no federal income tax because they generally do not make enough money to be taxed in the higher bracket.
Small 'correction' to your statement.

Those that fall into the bracket of not paying federal income tax, get something called an "Earned income credit" which MORE than offsets anything they pay in payroll taxes, and a portion of sales tax. So, effectively, they pay virtually no taxes.

Many more are on assistance programs that pay for a portion of their food and housing, which is paid for by taxpayers, so even less of their existance is paid for by themselves.

So penalizing someone who is successful is okay in your book? That a person who is able to make money is coerced into supporting other people?

If ALL people were required to pay in the exact same percentage of their earnings above a certain point, that would be 'fair'.
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