Federal deficit grows by 32% to $900B

"Just what IS income?" IN #500
Click to expand...

"When your outgo exceeds your income
the upshot will be your downfall." Paul Harvey
"Is it your wages? Does that include the cost of getting your wages, such as transportation costs, meal costs, medical costs, housing costs, tools, books, computers?

Does it include investments? Does that include your bookkeeping costs? Your losses? Your computers and data access fees?

Does it include gambling winnings? Does that include your gambling losses?

Does it include a social security check (which you already paid taxes on, and which comes directly out of those taxes)? Does that include all the money you WON'T get back from the government you sent in as social security taxes?

Does it include corn you grew yourself? What if you sold part of it? What if you sold none of it?"
Click to expand...
No.
 
Adolf_Twitler said:
I would be happy if everyone just paid a 10% tax on their incomes, be it a man, woman, or business.

If the budget was right, and everyone did that, that would be all anyone should have to do to pay for their government for it to work right.

Yep, that should do it. If 10% don't cover it, don't do it in the first place!
Click to expand...

That's more than the government needs based on what it actually is supposed to do.
 
Quote Originally Posted by LV426 View Post
You oppose deficits that declined throughout Obama,
Click to expand...

what the fuck are you talking about.......Obama's deficits were greater than all president's that preceded him, INCLUDING Bush.......
 
sear said:
That's a question about Obama.
The topic is U.S. federal deficit growth.

Why so terrible?
Because with a U.S. federal debt at $10 $Trillion, reducing tax revenue with a tax cut below the Laffer Curve peak is $fiscally irresponsible.
Click to expand...
that's what Obama said when he was campaigning in 2008.......then he doubled it to $20T.......
 
CFM said:
That's more than the government needs based on what it actually is supposed to do.
Click to expand...

Yes, I believe that after the last Tax Bill frustrated many people in the low-income brackets, that that will force a change of the control over the legislative branch.

The Democrats will be looking for ways to compromise with the Republicans and negotiate a new Bill with a flat tax that we can all agree to- ending all the loopholes and leveling all the playing fields.

But, unless Congress can get off their ass and cut spending, the percentage will be much higher than 10%, as in more like 15% to 18%.
 
Into the Night said:
The trouble with that is how do you define 'income'?

Is it your wages? Does that include the cost of getting your wages, such as transportation costs, meal costs, medical costs, housing costs, tools, books, computers?

Does it include investments? Does that include your bookkeeping costs? Your losses? Your computers and data access fees?

Does it include gambling winnings? Does that include your gambling losses?

Does it include a social security check (which you already paid taxes on, and which comes directly out of those taxes)? Does that include all the money you WON'T get back from the government you sent in as social security taxes?

Does it include corn you grew yourself? What if you sold part of it? What if you sold none of it?

Just what IS income? Even the IRS finds it has to create literally bookshelves full of laws to try to define that word.
Click to expand...

What is going to eventually happen is a flat tax- no deductions- No loopholes for no one.

Corporate gains are income! Inheritances are not taxable- one thing Trump and the Republicans finally got that right!

If you want expenses- talk to your employer for a refund.

If you are in business for yourself and expect the taxpayers to pay your expenses- Hell Fucking No! Go Fuck YOself!

I am sick and tired of paying these carpet-golfers to eat high on the hog and drink their FooFoo drinks on my fucking tab!

If you are trying to write off part of your house as office space to sit in your underwear and do your job- Go fuck yourself sideways! Not my problem!

The rule is- if you earn a dollar- it is taxable income!
 
PostmodernProphet said:
what the fuck are you talking about.......Obama's deficits were greater than all president's that preceded him, INCLUDING Bush.......
Click to expand...

Damn you are stupid. Obama had to fix the Bush mess that required billions and billions to fight. Of course he piled up the debt until he got the right wing economy fixed .When he was done, the debt was dropping. trump jacked it back up with his stupid tax cut for the rich and wasteful spending. You live in a world of alternate facts. https://www.debtconsolidation.com/us-debt-presidents/
 
Adolf_Twitler said:
Yes, I believe that after the last Tax Bill frustrated many people in the low-income brackets, that that will force a change of the control over the legislative branch.

The Democrats will be looking for ways to compromise with the Republicans and negotiate a new Bill with a flat tax that we can all agree to- ending all the loopholes and leveling all the playing fields.

But, unless Congress can get off their ass and cut spending, the percentage will be much higher than 10%, as in more like 15% to 18%.
Click to expand...

Sorry, when the low income brackets still pay nothing, there can't be any frustration.

Democrats don't like the flat tax. If you want to level the playing field, have all those low income freeloaders that have been paying nothing start doing their part. Currently, many of them draw from a pot to which they don't contribute.
 
Adolf_Twitler said:
What is going to eventually happen is a flat tax- no deductions- No loopholes for no one.
Click to expand...
Not likely!
Adolf_Twitler said:
Corporate gains are income!
Click to expand...
Income to who? The stockholders? The corporation itself? Just what Is a corporate 'gain'? Are you talking about net profit? What about lots of revenue, but no profit? What about nonprofits?
Adolf_Twitler said:
Inheritances are not taxable- one thing
Click to expand...
They are taxable,after a certain amount or if they are passed in a certain ways. Trump is eliminating the estate tax altogether. A good idea.
Adolf_Twitler said:
Trump and the Republicans finally got that right!
Click to expand...
True.
Adolf_Twitler said:
If you want expenses- talk to your employer for a refund.
Click to expand...
Not his job.They are YOUR expenses, paid for by YOUR wages.
Adolf_Twitler said:
If you are in business for yourself and expect the taxpayers to pay your expenses- Hell Fucking No! Go Fuck YOself!
Click to expand...
They don't. Yet businesses everywhere have costs. Those are written off. They are not part of any kind of 'gain' or 'income'.
Adolf_Twitler said:
I am sick and tired of paying these carpet-golfers to eat high on the hog and drink their FooFoo drinks on my fucking tab!
Click to expand...
I assume you mean 'the rich' for 'carpet golfers'.

They aren't drinking on your tab. They are drinking on their own tab. They pay the highest taxes rates of all in this country. If you want to complain about people sponging off of you, consider the homeless camps that receive government money to pay for their tents and sleeping bags, the government itself which doesn't produce anything, and generations of welfare recipients that don't want to work even though they are able-bodied enough to do so.
Adolf_Twitler said:
If you are trying to write off part of your house as office space to sit in your underwear and do your job- Go fuck yourself sideways! Not my problem!
Click to expand...
So what if I want to write off my office space located in an office park to sit in my underwear and do my job? What if my job is to model underwear?
Adolf_Twitler said:
The rule is- if you earn a dollar- it is taxable income!
Click to expand...
So you are now arguing that REVENUE is income, not net profit and not wages.

That means you are willing to tax a company had a lot of revenue but sustained a slight loss about 10% of their revenue??? How do you intend to get blood out of THAT stone??
 
CFM said:
Sorry, when the low income brackets still pay nothing, there can't be any frustration.

Democrats don't like the flat tax. If you want to level the playing field, have all those low income freeloaders that have been paying nothing start doing their part. Currently, many of them draw from a pot to which they don't contribute.
Click to expand...

You'd be surprised what Democrats think these days. But, yes, Democrats like the idea of a flat tax- always have really.

As for the bottom feeders and dregs you are tunnel visioned on, let them draw their limited handouts, because the Democrats intend to raise the minimum wage to $15.00 and no one will want to limit themselves to welfare anymore- not when you can draw $15.00 an hour and make $3200 a month.

You know it's not rocket science- never has been. All we ever needed was a minimum wage that keeps up with inflation to get people off of welfare!
 
PostmodernProphet said:
there are deficits because the idiots spent more than they had.......
Click to expand...

Deficits are not the problem. Spending is the problem.

The U.S.government can completely fill the deficit in one of three ways:
* they can tax for it
* they can borrow it (sell bonds)
* they can print it (quantitative easing and other such goodies)

If they tax too much, they get a revolt.
If they borrow too much, they have to offer higher and higher rates of return for the suckers buying the bonds.
If they print too much, there are more dollars chasing the wealth created which didn't increase as much.

All a 'deficit' does is mask the problem, which is spending too much. The government will still spend the 'deficit' money. They just get it from one of the other sources (usually just print it these days, or just issue bonds. That's what the debt is. The money owed to these bonds. If they wish, they can just print more money and pay off the entire debt in one go. Of course, that results in a hyperinflation to do that...and the resulting revolts...

You see? They're stuck. To tax enough to pay off the debt and the current budget would cause revolts. To sell bonds to pay off the debt and the current budget only increases the debt. To print the money to pay off the debt and the current budget causes hyperinflation...and revolts.

The United States is rapidly reaching a point of reckoning. You can blame the Democrats, you can blame the Republicans. They are both at fault. We are looking at nothing less than the collapse of the Federal Reserve and much of the government that created it. That point will occur when enough of the population realizes the position of Federal government is in. It's broke. It's been broke for some time. Soon it will reach a point where the budget itself can no longer be sustained at all.

Violence and revolts are coming. It's only a matter of deciding how it will come about. It cannot be stopped, not even by Donald Trump (as good for the country as he is). Some of it is already happening here and there.

This may sound bleak. It certain ways it is. In certain ways it's finally letting the Sun shine brightly through the dark clouds that surround us now. When that point comes, there will be no federal government capable of telling you what kind of light bulb or toilet you can buy or what gun you can own. Government will return to the people.
 
Last edited:
Into the Night said:
Deficits are not the problem. Spending is the problem.

The U.S.government can completely fill the deficit in one of three ways:
* they can tax for it
* they can borrow it (sell bonds)
* they can print it (quantitative easing and other such goodies)

If they tax too much, they get a revolt.
If they borrow too much, they have to offer higher and higher rates of return for the suckers buying the bonds.
If they print too much, there are more dollars chasing the wealth created which didn't increase as much.

All a 'deficit' does is mask the problem, which is spending too much. The government will still spend the 'deficit' money. They just get it from one of the other sources (usually just print it these days, or just issue bonds. That's what the debt is. The money owed to these bonds. If they wish, they can just print more money and pay off the entire debt in one go. Of course, that results in a hyperinflation to do that...and the resulting revolts...

You see? They're stuck. To tax enough to pay off the debt would cause revolts. To sell bonds to pay off the debt only increases the debt. To print the money to pay off the debt causes hyperinflation...and revolts.

The United States is rapidly reaching a point of reckoning. You can blame the Democrats, you can blame the Republicans. They are both at fault. We are looking at nothing less than the collapse of the Federal Reserve and much of the government that created it.

Violence and revolts are coming. It's only a matter of deciding how it will come about. It cannot be stopped, not even by Donald Trump (as good for the country as he is).
Click to expand...



that is like saying its OK if you don't have a job


just control all that money you spend on food and shelter


"if you don't spend"


"you don't need money"


you have to maintain the house


You have to prepare for the future generations



running a budget where you never barrowed is a stupid idea for a nation


debt is a tool
 
Adolf_Twitler said:
You'd be surprised what Democrats think these days. But, yes, Democrats like the idea of a flat tax- always have really.

As for the bottom feeders and dregs you are tunnel visioned on, let them draw their limited handouts, because the Democrats intend to raise the minimum wage to $15.00 and no one will want to limit themselves to welfare anymore- not when you can draw $15.00 an hour and make $3200 a month.

You know it's not rocket science- never has been. All we ever needed was a minimum wage that keeps up with inflation to get people off of welfare!
Click to expand...

Price controls don't work. They always cause shortages.
 
You must log in or register to reply here.
Back
Top