Billionaire Tax

Disagree. Even when we had a balanced budget under Clinton the debt continued to increase.

Deficit Debt
1996 -107 billion 5.2 trillion
1997 - 21 billion 5.4 trillion
1998 +69 billion 5.5 trillion
1999 +125 billion 5.6 trillion

Wait - so where is 2000 and 2001? Why did you leave those years out? And are you conflating Public debt with this?

Because the debt was paid down a bit when Clinton was President...

December 28, 2000

Today, President Clinton will announce that The United States is on course to eliminate its public debt within the next decade. The Administration also announced that we are projected to pay down $237 billion in debt in 2001. Due in part to a strong economy and the President's commitment to fiscal discipline, the federal fiscal condition has improved for an unprecedented nine consecutive years. Based upon today's new economic and budget projections for the coming 10 years from the Office of Management and Budget (OMB):

-> The United States can be debt-free this decade. By dedicating the entire budget surplus to debt reduction, The United States can eliminate its publicly held debt by FY 2009. The next Administration and Congress will need to decide what priorities to address: eliminate the public debt by FY 2010 and still use part of the surplus for responsible tax cuts, prescription drug benefits for Medicare recipients, and investments in key priorities like education and health care.

-> The national debt is projected to be paid down by $237 billion this year. Under the budget President Clinton and Congress completed two weeks ago, the U.S. is projected to pay down $237 billion of the national debt in FY 2001.

-> The 4 year total debt paydown will be $600 billion. Over the last three years, we have already paid down $363 billion in debt. Therefore, The United States is on track to reduce the debt by $600 billion over four years, the largest four-year debt pay-down ever.

-> Record deficits have become record surpluses. This Administration has have moved the country from a deficit of $290 billion in FY 1992 to an expected surplus of $256 billion in FY 2001. Eight years ago, the Congressional Budget Office projected a $513 billion deficit in FY 2001. Thus, the fiscal picture is now projected to improve by $769 billion in FY 2001 alone.

-> Nine consecutive years of fiscal improvement. FY 2001 will be the fourth year in a row of overall surpluses and the second year in a row of a surplus without counting Social Security or Medicare. It will be the ninth consecutive year of fiscal improvement, the longest such period in history.
https://clintonwhitehouse4.archives...n of $600 billion,was reduced by $363 billion.
 
The proposed all-day pre-school and kindergarten the Democrats are pushing for. It amounts to all-day child care at a public facility where they will make your kids stupid by the age of 5...

I see. More Reichwing hyperbole, rather than anything factual. My youngest is a FT special ed teacher in a public school district. Her students are preschool ages, 3-5 yrs old. Her district already has all-day Kindergarten as well. Multiple studies have shown that children who attend preschool, particularly those at risk due to economic or mental/cognitive issues, benefit greatly from such early intervention. It benefits *all* of us to have our children receive good educations. What do you suppose those working parents will do with the money they save when they no longer have to spend $250/week and up for daycare? I bet they'll spend at least some of it on discretionary things like entertainment, clothes, appliances, car payment, etc. -- stuff that helps the economy.

Wage and price controls have come and gone in US history. FDR tried them during WW 2. That's how health insurance ended fucked up today. Nixon tried them in the early 70's and screwed the economy up. And yes, minimum wage is a wage control as is massive taxes on the rich (bottom vs. top end control). The government in contracts requires that all workers on their projects get paid "prevailing union wage," whether they are union or not.

So you're freaking out over a non-existent issue, it seems. Why wouldn't you want workers on a government project to receive prevailing wages? What happens when you cut corners and short your workers? Do you really want to drive over a bridge where that happened? I don't.

Another one the Democrats propose is price controls on prescription drugs. Many counties have these already. Where they do, often new drugs are much slower to go into those markets and drug development is slowed or ends. Today, the US pharma industry creates about 60% of all new drugs worldwide and imposes most of the cost of that on countries like the US without such controls to recoup the cost of development during the patent period.

I agree with both allowing Medicare to negotiate drug prices, and with prices controls. Ask anyone you know who is an insulin-dependent diabetic, or anyone you know who carries an epi pen for a life-threatening allergy, what they are paying now versus 10 years ago. That epi pen I got in 2005 now costs over $600. Oh, and the government paid for its creation.

Tariffs are another. Trump and Biden both have used these for a recent example.

I disagree with tariffs. The importing country doesn't pay for them. WE do.
 
Welfare
Public education
Universal government run child care
Amtrak
Medicare /caid
Corporate subsidies
Public housing
Wage and price controls

All good by me. What's the problem?


It isn't that all Socialism is bad, but it clear that too much of it is worse than too much Capitalism

Remind me, was it socialism or capitalism that needed those PPP bailouts last year?

And then remind me, was it socialism or capitalism that needed the farmer bailout in 2019?

And then remind me, was it socialism or capitalism that needed the TARP bailout in 2008?

And then remind me, was it socialism or capitalism that needed the dotcom bailouts in 2000?

And then remind me, was it socialism or capitalism that needed the S&L bailout in 1989?

And while we're at it, was it socialism that led Enron to self-destruct, or was that capitalism?
 
I disagree with tariffs. The importing country doesn't pay for them. WE do.

The importer pays the tariff. It may be passed along to consumers but the idea is that the consumers not buy the foreign product but American products, instead.

The drawback is that the country we are putting tariffs on retaliates by putting tariffs on our products and hurts American exports. China's tariff on American agricultural products resulted in U. S. taxpayers giving farmers $28 billion. We hurt as many businesses as we helped and we did not see American companies returning to the U. S. They left China and went to Vietnam to avoid the tariff.
 
The importer pays the tariff. It may be passed along to consumers but the idea is that the consumers not buy the foreign product but American products, instead.

The drawback is that the country we are putting tariffs on retaliates by putting tariffs on our products and hurts American exports. China's tariff on American agricultural products resulted in U. S. taxpayers giving farmers $28 billion. We hurt as many businesses as we helped and we did not see American companies returning to the U. S. They left China and went to Vietnam to avoid the tariff.

Thank you; well said.

#TRE45ON's tariffs also caused the price of metals to rise in the U.S., which again cost American manufacturers -- and ultimately American consumers of the goods made with those metals.
 
Thank you; well said.

#TRE45ON's tariffs also caused the price of metals to rise in the U.S., which again cost American manufacturers -- and ultimately American consumers of the goods made with those metals.

And some businesses could no longer get/afford a type of steel made in China that they needed for their products. As a result, they lost a lot of contracted projects. Those selling and installing solar panels could no longer get those and lost a lot of business.

Good to see you are a free market Owl;)

I did not know there were sarcasm emojis.
 
And some businesses could no longer get/afford a type of steel made in China that they needed for their products. As a result, they lost a lot of contracted projects. Those selling and installing solar panels could no longer get those and lost a lot of business.

Good to see you are a free market Owl;)

I did not know there were sarcasm emojis.

It's sarcasm FONTS, which itself is sarcasm because unfortunately there are none. lol

I'm free market within reason. Capitalism is the best economic system we've devised, as long as it is well-regulated, and combined with a measure of socialism.
 
Hello cawacko,



Great way to justify doing nothing to help those in need.

Classic approach from the right.

Deny a solvable problem exists. Therefore, it does not have to be solved.

I just described the results of the actions you want. I’m all for building more food options for people. When you make areas more desirable more people tend to want to live there. I’m not the one complaining about the resulting gentrification as that’s the market in action, rather progressives are.

Economic decisions and subsequent actions don’t occur in a vacuum.

Edit: If you have ideas about how to bring increased services to a potentially desirable but underserved area but not have it increase property values and cause displacement I’m open to hearing it.
 
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Thank you; well said.

#TRE45ON's tariffs also caused the price of metals to rise in the U.S., which again cost American manufacturers -- and ultimately American consumers of the goods made with those metals.

Since tone can difficult sometimes I’m not asking this in a confrontational manner, it’s just a question. Why do you think Biden had kept most of Trump’s tariffs? (I’m speaking as someone who is a pro free trader and anti-tariffs and hate these tariffs)
 
Since tone can difficult sometimes I’m not asking this in a confrontational manner, it’s just a question. Why do you think Biden had kept most of Trump’s tariffs? (I’m speaking as someone who is a pro free trader and anti-tariffs and hate these tariffs)

I don't know why.
 
Hello Gondwanaland,

I've seen the way you post. It is remarkably similar to someone I already have on Ignore. Before you tell me off in an immature fit as you have already done to others, and I put you on Ignore forever, I'll address your on-topic comment. (Your attempt to hijack the thread is considered irrelevant, and will not be addressed.) Whenever you do decide to go off on me, make it a really good one. You'll only get one chance. But for now, as long as you keep it respectful and civil, we can talk about the subject at hand.

Because our constitution was designed to protect us against a tyranny of the majority.

Having great wealth is almost a curse. A lot of people don't handle it very well. It makes them quite ugly and inconsiderate. They lose compassion. They become highly suspicious and fearful they are going to lose their curse. It really does mess with heads. Even the relentless desire to be fabulously wealthy does that to people. Money is a both a good thing and a very corrosive thing to society. Just look at our most famous American billionaire. He is a disgrace to humanity. Such greed. It's quite ugly. He needs a wake-up call. One way to help him is by taxing him more.

Requiring the richest Americans to pay more to make the country greater is 'tyranny?'

:rofl2:

Most countries don't see it that way. Most countries already have many of the provisions of Build Back Better, and they don't consider it tyranny at all. Most people LIKE it. That's because health care expenses do not bankrupt people in other countries. And their healthcare systems are far more efficient, which results in them living longer than Americans.

Must be some really effective slick-talking BS to get Americans to work more hours per year, have fewer benefits, roll their eyes at the thought of enjoying 1.5 month paid vacations every year, (if only,) forget about having paid time off for family leave, (Oh, it's just not done,) forget about guaranteed retirement, all so a few people can be fabulously rich and convince the masses that if they are taxed more it is 'tyranny of the majority.'

Makes no sense that our infrastructure should be allowed to crumble, that so many should do without internet or basic security and opportunity, so that a handful of Americans can enjoy a brusque business in the sales of mega-yachts.

Yep, that's some high-juju BS there, alright. Really got a lotta people completely snowed and totally in the pockets of billionaires. Like putty in their hands.

 
Hello cawacko,

Since tone can difficult sometimes I’m not asking this in a confrontational manner, it’s just a question. Why do you think Biden had kept most of Trump’s tariffs? (I’m speaking as someone who is a pro free trader and anti-tariffs and hate these tariffs)

That is a very good question. I can only guess it is because changes cause uncertainty, and the word of the USA needs to stand for something. We lose credibility if we keep flip-flopping.

That was the altruistic answer.

The more suspicious answer would be that Biden is in the pocket of big bankers and always has been. That is why he was not my first choice for Dem candidate. But he is our Democratic president, so he has my support. Better him than anything the Trump party has to offer. And, of course, that whole party has gone bonkers and become so racist and ugly. Too bad the old Republican party has so little support and has been largely dismantled, btw.

Do you support taxing billionaires more? I do. It's the right thing to do.
 
Communism embodies Socialism with in it as the economic system.

No it doesn't because Communism is a political system and socialism is an economic system.

Communism as a political system has far more in common with right-wing, fascist and totalitarian governments than it does with socialism, which is an economic system used by most all representative and parliamentary democracies to some degree (including our own).

What they do in China is pretty much what you and your "very fine people" want here: a permanent minority ruling class that is the sole authority on government, can overturn elections on a whim, and does not embrace the peaceful transition of power when you lose it.

That's all you, and it's precisely what you personally fought for on JPP on 1/6 (because you were too scared to fight for it in person that day, big mouth).
 
Communism embodies Socialism with in it as the economic system.

Censorship and "patriotic education (aka whitewashing)" are hallmarks of totalitarian regimes like the one in China, and you support that shit here:

Texas House committee to investigate school districts’ books on race and sexuality
https://www.texastribune.org/2021/1...35281265&utm_medium=social&utm_source=twitter

Texas “critical race theory” bill limiting teaching of current events signed into law
https://www.texastribune.org/2021/06/15/abbott-critical-race-theory-law/

So you screech like a barnyard animal about conflating Communism with Socialism, when you yourself support actions like the banning of books and the mandating of "patriotic education" to get people complacent so that you can continue taking advantage of them.

Don't think I don't know what you're all about here, TA, you big loudmouth hypocrite.
 
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