A Budget That Can't Be Balanced

[CG6468]

[youtube=425,350]http://www.youtube.com/watch?v=EW5IdwltaAc[/youtube]

[Lacarnut]

Many politicians know what the problem is and that is too much spending. However, none of them want to seriously bite the bullet cause it will be very painful. It would mean that the moochers, poor, middle class and upper class would have to gulp down some serious medicine of spending cuts, reduced benefits and raising taxes. A Repub raising taxes would mean his/her defeat. That is why it will never get done because everyone is looking out for number 1. We are screwed cause we can not increase revenues even in an exploding economy to catch up with the debt and unfunded liabilities.

[obumazombie]

Many politicians know what the problem is and that is too much spending. However, none of them want to seriously bite the bullet cause it will be very painful. It would mean that the moochers, poor, middle class and upper class would have to gulp down some serious medicine of spending cuts, reduced benefits and raising taxes. A Repub raising taxes would mean his/her defeat. That is why it will never get done because everyone is looking out for number 1. We are screwed cause we can not increase revenues even in an exploding economy to catch up with the debt and unfunded liabilities.

I absolutely reject the notion that taxes have to be raised to balance the economy.

[Lacarnut]

I absolutely reject the notion that taxes have to be raised to balance the economy.

Did you read the chart and watch the video. Figures do not lie and liars do not figure.

[obumazombie]

Did you read the chart and watch the video. Figures do not lie and liars do not figure.

I should have said budget. Part of the budget should be a small surplus aimed at retiring our debt. I repeat, the budget balancing process does not require any added tax revenue. Quite often if not always, higher taxes result in LESS tax revenue.

[Lacarnut]

I should have said budget. Part of the budget should be a small surplus aimed at retiring our debt. I repeat, the budget balancing process does not require any added tax revenue. Quite often if not always, higher taxes result in LESS tax revenue.

Spending more than the gov. takes in requires more borrowing which adds to the debt. We have never had a surplus since V.N. because the money that is supposed to go into the SS Trust fund is transferred to the General fund and spent. This started under LBJ and continues to this day.

When I say new taxes could be raised I am talking about fairness in the tax code such as requiring a woman with 5 or 6 bastard children to pay a small amount of SS or Fed Inc. taxes on the money that they rec. for housing, food and cash payments. Moochers need to contribute. Companies that go overseas like GE should be required to pay taxes. That would encourage corporations to come back home. There are a number of other taxes that could be raised and lowered. Conservatives that do not want anyone taxes to go up a penny are not being realistic if we ever want to get a grip on our debt. For example, the Ryan plan allows our debt to go up to 20 trillion while Obama comes in at $25 trillion. Both plans are pathetic in my opinion and do nothing to dig us out of debt. Cutting spending should be first, incentives for business should be next and lastly tax fairness which would include some increases.

[obumazombie]

Spending more than the gov. takes in requires more borrowing which adds to the debt. We have never had a surplus since V.N. because the money that is supposed to go into the SS Trust fund is transferred to the General fund and spent. This started under LBJ and continues to this day.

When I say new taxes could be raised I am talking about fairness in the tax code such as requiring a woman with 5 or 6 bastard children to pay a small amount of SS or Fed Inc. taxes on the money that they rec. for housing, food and cash payments. Moochers need to contribute. Companies that go overseas like GE should be required to pay taxes. That would encourage corporations to come back home. There are a number of other taxes that could be raised and lowered. Conservatives that do not want anyone taxes to go up a penny are not being realistic if we ever want to get a grip on our debt. For example, the Ryan plan allows our debt to go up to 20 trillion while Obama comes in at $25 trillion. Both plans are pathetic in my opinion and do nothing to dig us out of debt. Cutting spending should be first, incentives for business should be next and lastly tax fairness which would include some increases.

I see your point. I somewhat agree in principle with the idea that poor people should be taxed. The basic notion regarding taxes, and their consequences is, if you want less of something, tax it. If you want more of something, subsidize it. If you could come up with a foolproof way to tax libs exclusively, I would be all supportive.