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Thread: How a tax cut works

  1. #21
    Disgruntled Postal Worker fourdc's Avatar
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    The political spin on deficit, surplus, national debt can be very misleading.

    Each year there is a budget deficit, the national debt goes up. Even with Clinton's budget surplus there was still a national debt, one year of surplus wouldn't pay it off.

    There's alway interest on that debt, so even in a balanced budget we have to service that debt or the debt goes up. Someone some day is going to have to pay that debt off. I'd like to see it in my lifetime. I have a conscience that doesn't believe in passing problems on to my kids or gradndkids (not even born yet).

    Mormon, you're not agreeing with me about Bush being re-elected, I hope he gets tossed.

    Its just a GD shame that in a country with 250+million people that we always wind up with the losers wanting to be president. I'd run for the office but I smoked dope as a teenager and have overdue library books.

    Dean was the governor of my state (Vermont), he was ok. There was some serious issues during his tenure, school funding, health care. Being heterosexual, the civil union issue doesn't excite or bother me. What I don't like about the issue is the heat and praise Dean is drawing for it. The state supreme court said they had to do it, the legislature and the governor avoided the legal issue by passing "marriage light". I predict in 10 years other states will have it as well. The way I see it is the joy that two committed individuals have for each other shouldn't be diminished by their sexual alignment.
    ddddc

    "Somehow saying I told you so just doesn't cover it" Will Smith in I, Robot

  2. #22
    Senior Member RoadClosed's Avatar
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    Nice Analysis on the budget fourdc. I would like to see it paid off as well, in my life time. Unfortunately is has been increasing steadily forever in the past.

  3. #23
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    Yeah we all want to see the budget deficit gone. Its been estimated that each American has to pay over $26,000 to releive the deficit. I don't think that the deficit is going to be gone any time soon, with any Presidential canidate we know

  4. #24
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    The Congressional Budget Office released the budget figures for this year:
    $477 billion deficit (last year, it was at $295.4 billion).
    So know we have the complete official figures for the Bush-administration

    2001: $158 billion deficit
    2002: $400 billion deficit
    2003: $295 billion deficit
    2004: $477 billion deficit

    That's the budget, and it's got nothing to do with the national debt (altough the bigger the deficit is, the harder the national debt will be to pay off, of course...)
    The national debt is at $7,021,382,752,486 (7 trillion) right now.

    TheMormon > the $26,000 per American you mention, would be to pay off the national debt, NOT the budget deficit (it'd be $23,952 per American, btw).

    "Paying off" the budget deficit wouldn't be a problem at all.

  5. #25
    AO Ancient: Team Leader
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    This is where you all have it a tad wrong IMO.

    The deficit is not something we all have to pay to reduce it's something where you have to tell your representatives to start being fiscally responsible!!!

    The bank doesn't let you have an overdraft willy-nilly but the congress thinks it can just spend and if they go overdrawn they shrug and say "WTF"..... That's what has to stop! If there isn't enough money left after the essentials, (defense, infrastructure etc.), to pay for 100% of granny's prescriptions then granny should have to kick in the remaining percentage for example. Then there wouldn't be a deficit.
    Don\'t SYN us.... We\'ll SYN you.....
    \"A nation that draws too broad a difference between its scholars and its warriors will have its thinking done by cowards, and its fighting done by fools.\" - Thucydides

  6. #26
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    This is where you all have it a tad wrong IMO.

    The deficit is not something we all have to pay to reduce it's something where you have to tell your representatives to start being fiscally responsible!!!
    Dunno if that was aimed at me as well, but anyways

    Mormon stated that every American would have to pay $26,000 to pay off the budget deficit, and that is not correct. To pay off a $477 billion deficit, every American would have to pay "only" $1,364 (based on a population of 293,142,190 Americans).
    The $26,000 he was referring to would be the amount (although a bit off) required from every American to pay of a $7 trillion national debt.

    If Congress would be better at budgetting, granny wouldn't have to kick in the remaining percentage (or finally adopt the Tobin Taxes, of course!).

  7. #27
    AO Ancient: Team Leader
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    Neg: Nope not directed at you.... It was directed at all those that think that a budget deficit is something we have to be paid for as opposed to it being something that shouldn't have been created in the first place.
    Don\'t SYN us.... We\'ll SYN you.....
    \"A nation that draws too broad a difference between its scholars and its warriors will have its thinking done by cowards, and its fighting done by fools.\" - Thucydides

  8. #28
    Disgruntled Postal Worker fourdc's Avatar
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    At some point you have to ask, "What's more important, Granny's prescription or a "War Machine" that is going out to fight wars based on erroneous information so that the Vice President's cronies at Halliburton can make more $$"

    It's great to have a strong defense it's also great to have a country worth protecting. A country isn't the land, it's the people. At some point "the government of the people, by the people and for the people" better get around to looking after it's people's interests and not that of corporate war profiteers. can you say nukular?
    ddddc

    "Somehow saying I told you so just doesn't cover it" Will Smith in I, Robot

  9. #29
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    Originally posted here by fourdc
    A country isn't the land, it's the people.
    What good is the "land/people" if they been decimated by Nuclear weapons and/or other variants of Weapons of Mass Destruction? There wouldn't be any people left if we didn't defend this nation. If it were up to many of the Democrats we'd damn near never go to war under most circumstances; leaving Dictators to their own devices. When we allow this, they begin to build their "nukular" weapons in quantity.

    .dublix

  10. #30
    Disgruntled Postal Worker fourdc's Avatar
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    So just where are these WMDs that Saddam was threatening me and my fellow countrymen with?

    Or was Saddam threatening financial interests of some of my select countrymen.

    I actually feel more threatened by the dictators the Republicans have propped up, how many years did Papa Bush prop Noriega as the general assisted the drug cartels in getting their wares to the US?

    One of the problems that could take the US down is the partisanship that is being passed off as leadership. The words "democrat" and "republican" aren't even in the constitution. It's time to get a few more major parties going so the "tit for tat" and the gridlocking can stop. Make our representatives negotiate and trade off instead of following the party lines.

    Anyway you look at it Halliburton's profit loss sheet isn't worth the lives of any more US servicemen or women.
    ddddc

    "Somehow saying I told you so just doesn't cover it" Will Smith in I, Robot

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