How would you balance the budget?

[Truth Detector]

Before I begin with how to fix this... We do not have 'radically low taxes'. We are about 26% of GDP. The UK is 34%. The France, Germany and the Nordic countries are insanely high in the mid 40's. Switzerland is about 28%

That said... here is what I would propose:

1) Eliminate the tax code as it stands... all of it. All 75k pages of it. All loopholes, all deductions, all subsidies. For the individual side: Replace it with a Flat tax of 20% on earned income from 0-$500k Additional 10% tax on anything over that. This is on ALL income: Earned income, dividends AND capital gains. Standard deduction for every adult is $30k. Which will make the tax code progressive and protective of the lower income families. For the corporate side: recognize that a corporation is just paper. Eliminate the corporate tax code all together. The individual tax code will take care of taxing the money based on who gets it.

2) Spending: We must get this under control, obviously. You pinpoint the obvious first place to start... The DoD. Way too much waste there. Let Europe pay to defend Europe. Eliminate most of the bases there, eliminate the bulk of the top of military hierarchy (we have far too many Generals/Admirals etc... who all have staff... basically too much admin). Definitely stop spending on weapons programs the military doesn't even want/need. Bottom line, I agree we could cut Defense by at least $200B.

3) Healthcare costs: It doesn't matter how we pay for healthcare if we don't address the cost issue. What is driving the costs so high? Why is it so expensive to get a medical degree? Why are insurance costs so high for doctors/hospitals? I have more questions than answers here, but this is first place to start.

4) Social security: Fix it with an additional 3% tax on income over $500k. That would resolve the issue. Social Security is not nearly as big of a problem as people think. Medicare is... which is due to number three above.

All in all, I think we would agree on a lot... Not much we can do with the amount we have to pay out of SS, but we need to balance it with an increase in taxation as mentioned so that it doesn't detract from other areas in the future. Besides SS, Healthcare via medicare and medicaid is the biggest mandatory expense. We must figure out a way to get costs under control. Defense is the non-discretionary target. I think we agree that at least $200B, maybe more, could be cut.

I think the area for discussion for the two of us would be on taxation. I want more transparency and simplicity in the tax code. There shouldn't be 75k pages to go through. My plan above is certainly open for tweaking on the numbers... but I think it is the better option than what we have today.

Increasing taxes will fix NOTHING.

 

[Truth Detector]

There's a reason the rich didn't like Clinton, and sponsored an endless investigation and eventual impeachment to try to get rid of him. He raised taxes on them. Yes, that was partly offset by decreasing the maximum long terms capital gains rate. But only partly.

Clinton wasn't investigated by the rich over taxes. What a moronic conspiracy claim.

 

[canceled.2021.1]

What does your race have to do with anything?



The issue, as you know, is that you lack any facility with numbers, so you couldn't provide them if you wanted to. If you care to improve your skills, though, give it a try. You'll learn something.

I am very adept at numbers I just choose not to play your game. If you are interested in how much money eliminating the EPA would save go look it up.
I told you where I would cut spending.

 

[Truth Detector]

No. I proposed a large decrease in the largest area of discretionary spending.

Yet, discretionary spending is not where the problem lies. Therefore, would do NOTHING to eliminate the deficit or reduce our massive debt which interest alone now takes up an ever growing hare of the budget. Thanks OBAMA!

 

[canceled.2021.1]

Increasing taxes will fix NOTHING.

Oh didn’t you hear? Reverting to the top marginal rate of 90% will fix everything.

I am waiting for Nancy to bring it up for a vote.

 

[Truth Detector]

Or we tax the wealthy and red states.

I'm sick of paying for racist pigs to continue spewing their lies and hate. Time to pay the piper.

Then we tax religion.

I'm sick of them having a say in our politics.

Another ignorant race hustling rant from the loony lefty; no shocker to me.

Riding the SHORT Race hustling BUS

The TROLL TRAIN!

 

[Truth Detector]

Oh didn’t you hear? Reverting to the top marginal rate of 90% will fix everything.

I am waiting for Nancy to bring it up for a vote.

I have heard; but liberals are morons and think we have a REVENUE problem.

 

[canceled.2021.1]

I have heard; but liberals are morons and think we have a REVENUE problem.

No not at all. Nope there is supposedly plenty of money to give everyone free healthcare, housing, teslas, Harvard educations and WiFi

Just tax the rich and all your dreams will come true

Because it isn’t the people’s money after all. It belongs to the gobblement

 

[LV426]

No not at all. Nope there is supposedly plenty of money to give everyone free healthcare, housing, teslas, Harvard educations and WiFi

There sure is. It's just all with a few billionaires.

Just tax the rich and all your dreams will come true

If my dreams are to live a comfortable life where I won't be bankrupted by college loans or medical debt, and that there are good paying green jobs for me to work, then that is what taxing the rich will accomplish...because cutting their taxes hasn't.

Because it isn’t the people’s money after all. It belongs to the gobblement

Yes, we know. You're antisocial but you love the luxuries society provides. No need to keep beating that dead horse.

 

[Truth Detector]

There sure is. It's just all with a few billionaires.

Willful idiot thinks billions will solve deficits in the trillions.

If my dreams are to live a comfortable life where I won't be bankrupted by college loans or medical debt, and that there are good paying green jobs for me to work, then that is what taxing the rich will accomplish...because cutting their taxes hasn't.

Taxing the rich will accomplish none of that you moocher.

Yes, we know. You're antisocial but you love the luxuries society provides. No need to keep beating that dead horse.

Willful idiot thinks society provides us with luxuries.

 

[canceled.2021.1]

There sure is. It's just all with a few billionaires.




If my dreams are to live a comfortable life where I won't be bankrupted by college loans or medical debt, and that there are good paying green jobs for me to work, then that is what taxing the rich will accomplish...because cutting their taxes hasn't.





Yes, we know. You're antisocial but you love the luxuries society provides. No need to keep beating that dead horse.

So you can’t live a comfortable life without the gubmint taking money from others?

Well at least you admit it.

Good for you. I knew you were a loser but that you admit it is awesome

 

[LV426]

So you can’t live a comfortable life without the gubmint taking money from others?

You mean taxation to pay for roads, schools, etc?

Hard to pursue happiness when you're burdened with medical debt.

Good for you. I knew you were a loser but that you admit it is awesome

No one is convinced by you.

You're not genuine.

I see right through this act. You're not better than Ashley Todd, who was desperate to smear Obama that she carved a B in her face -IN THE MIRROR- and pretended that a black guy did it.

Problem is, when you carve something into your face in a mirror, it's fucking backward.

You are basically Ashley Todd, but without the balls.

 

[canceled.2021.1]

You mean taxation to pay for roads, schools, etc?

Hard to pursue happiness when you're burdened with medical debt.




No one is convinced by you.

You're not genuine.

I see right through this act. You're not better than Ashley Todd, who was desperate to smear Obama that she carved a B in her face -IN THE MIRROR- and pretended that a black guy did it.

Problem is, when you carve something into your face in a mirror, it's fucking backward.

You are basically Ashley Todd, but without the balls.

Ahhh the old “roads” trope

Don’t forget policeman

 

[Controlled Opposition]

Pull out of NATO, close all overseas bases, cut defense spending by 1/3, raise SS age to 85, allow people under 35 to opt out of paying into it (because we will never get that money back), end the War on Drugs, get rid of the DEA, ATF, and a bunch of other alphabet soup agencies, and a 25% cut to all federal administrative salaries.

I wonder how you will feel about the bolded when you aren't still wet behind the ears.

 

[Mason Michaels]

Who mentioned nukes?

If the military had only one weapon, that would be one more than anything provided to freeloaders that refuse to do for themselves.

You truly are scum

 

[Billy the Great Khan]

And raise taxes, go back to medicaid before the ACA (it was just fine). Cause a recession. Make it hurt. We'll be better off in the long run.

No, fuck you. Cut my taxes.

 

[Billy the Great Khan]

I wonder how you will feel about the bolded when you aren't still wet behind the ears.

You mean when I still can't collect it and would have been better off stuffing all that money in a mattress or a Money Market? Yeah, I'll wish I could have opted out at 18.

 

[Moosakofsky]

No, fuck you. Cut my taxes.

Cut spending, raise taxes. Suffer.
That which does not kill you makes you stronger.

 

[Sailor]

Cut spending, raise taxes. Suffer.
That which does not kill you makes you stronger.

I would add to that anyone capable of working that does not and pay taxes, starves. Fuck em.

 

[Controlled Opposition]

You mean when I still can't collect it and would have been better off stuffing all that money in a mattress or a Money Market? Yeah, I'll wish I could have opted out at 18.

Do you think you will be employable when you are in your 80's?

You might fall off of your tricycle tomorrow and sustain a permanent brain injury as Owl did. What would it matter if you received Medicaid or some form of welfare? Either way, you would cost society big bucks.