Your new Tax Rate

[jgraham37128]

We're getting what we voted for. The majority of the USA wanted to keep the same president and the same non working government we've had for years so let it rip. It may be the best thing for this country in the long run, to have 8 years of no growth and high unemployment. This way we we do get back on track everyone who thought these days weren't so bad can really understand how bad things were.

JG

[JimN]

Originally Posted by FrankSchwab

OK, here's your chance. The US Budget for 2012 contained 3.7 Trillion dollars in spending, and 2.4 Trillion dollars in income, for a net deficit of 1.3 Trillion dollars. So to balance the budget, you need to ax 1.3 Trillion dollars from the Federal Budget.

(From Wikipedia)
Budget
(Billions) Function
$778.57 Social Security

/frank

Social Security isn't an expense, unless they're funding any part of it, which they aren't. They're distributing money that was contributed by people whose pay put them in the bracket that makes them "worthy" of doing so. Sure, they have management costs, but apparently, they use that to justify raiding it for a source of free money.

So, I guess the deficit is more like $2 Trillion dollars.

[JimN]

Originally Posted by jgraham37128

We're getting what we voted for. The majority of the USA wanted to keep the same president and the same non working government we've had for years so let it rip. It may be the best thing for this country in the long run, to have 8 years of no growth and high unemployment. This way we we do get back on track everyone who thought these days weren't so bad can really understand how bad things were.

JG

Beg your pardon? The ones who want to continue to take from the government and are in favor of the government leading the country to ruin got what they wanted. The rest of us are getting screwed.

BTW- that majority was of voters, not the country. I'm pretty sure there's a good number of people who don't vote but could have voted for someone else in an effort to keep Obama from being re-elected (like an alternate candidate), even though they may be eligible.

How, exactly, would no growth and high unemployment do the country ANY good? If you remember, the only thing that got us out of The Great Depression was WWII and another World War is the last thing we need.

[JimN]

Originally Posted by nkorep2

I dont think my taxes are going to be affected much at all. But I guess you have to make a decent amount of money to get taxed on it. Im in favor of a universal tax rate. Everyone pays their share. I dont think the vast majority of the people on this site should be paying my share.

What do you propose to do about the huge number who never pay because they have no job skills, education or desire to improve themselves to the point that they would be able to make more?

[FrankSchwab]

Originally Posted by JimN

Social Security isn't an expense, unless they're funding any part of it, which they aren't. They're distributing money that was contributed by people whose pay put them in the bracket that makes them "worthy" of doing so. Sure, they have management costs, but apparently, they use that to justify raiding it for a source of free money.

So, I guess the deficit is more like $2 Trillion dollars.

Yeah, Social Security was one of the biggest scams against the young every perpetrated. Every single penny that we contributed to the "Social Security Trust Fund" has been spent - every dime of Social Security expenditures that gets paid out over and above current payroll taxes comes from the general fund.

[trickskier]

Originally Posted by JimN

Beg your pardon? The ones who want to continue to take from the government and are in favor of the government leading the country to ruin got what they wanted. The rest of us are getting screwed.

BTW- that majority was of voters, not the country. I'm pretty sure there's a good number of people who don't vote but could have voted for someone else in an effort to keep Obama from being re-elected (like an alternate candidate), even though they may be eligible.

How, exactly, would no growth and high unemployment do the country ANY good? If you remember, the only thing that got us out of The Great Depression was WWII and another World War is the last thing we need.

Originally Posted by JimN

What do you propose to do about the huge number who never pay because they have no job skills, education or desire to improve themselves to the point that they would be able to make more?

Good points JimN - Obama will go down as the worst President in the history of the USA. He's not a leader, he's an egotist!!!

[FrankSchwab]

Originally Posted by GoneBoatN

I understand your point but our elected officials use this kind of logic for continuing to not address the problem/issue. When social welfare is mentioned they say cutting it would not put a dent in the deficit. Trimming defense spending would not put a dent in the deficit...

The thing is you have to start somewhere and the sooner you start the sooner it is fixed. The longer you wait the harder it is going to be to take the cure.

But it's intellectual dishonesty to say "the sooner you start the sooner it is fixed". If you can't say what "start" means, and how it's going to affect the deficit over the next 1, 5, 10, 20 years, all you're really saying is "there's a bunch of programs that I disagree with that I want to kill, and I'm going to use the deficit as a cover to try to do so". You can talk all you want about <name your favorite government spending boondoggle>, but if cutting it doesn't impact the deficit then be honest - simply say "I don't like this program, and want to see it eliminated".

My point above is that we've passed the point where cutting school lunches or eliminating the EPA can have any affect on our national economic health. Defense spending is going nowhere but up - and it's going to be left in the dust by the rise in mandatory social spending. As the population ages and there are fewer workers supporting each retiree, and as new benefits get instituted for retirees to pander to the strongest voting block in the country, the deficits associated with SS, Medicaid, and Medicare are going to skyrocket.

The fiscal cliff problems don't matter in the long run - taxes aren't high enough to pay off the promises that have been made - promises that we don't have the political will to break. They will have to go up, unless a miraculous turnaround occurs in the economy that raises tax revenues without raising tax rates. Whether they go up next week, or next year, isn't that important from a long term perspective. Spending can't decrease significantly (and will IMHO continue to increase at an increasing rate), so taxes have to go up eventually.

[jgraham37128]

Originally Posted by trickskier

Good points JimN - Obama will go down as the worst President in the history of the USA. He's not a leader, he's an egotist!!!

I agree 100%!!!

[jgraham37128]

Originally Posted by JimN

Beg your pardon? The ones who want to continue to take from the government and are in favor of the government leading the country to ruin got what they wanted. The rest of us are getting screwed.

BTW- that majority was of voters, not the country. I'm pretty sure there's a good number of people who don't vote but could have voted for someone else in an effort to keep Obama from being re-elected (like an alternate candidate), even though they may be eligible.

How, exactly, would no growth and high unemployment do the country ANY good? If you remember, the only thing that got us out of The Great Depression was WWII and another World War is the last thing we need.

I agree. I'm one of the one's getting screwed!

Those were wasted votes and one of the reasons he was re-elected.

It doesn't do us any good, but all I heard during the campaign was we're on the right track just not down as far as we needed to go so he needs another four more years to get us into prosperity.

[CantRepeat]

Personally, I wouldn't mind paying more in taxes.

As far as war, surely we don't NEED any more, but did we NEED WWII? No. Even at 49 I'd gladly saddle back up if war came to our shores.

And that tax rate article is BS. It's the flat tax rate and doesn't even include deductions or exemptions. It's just some flame bate news crap.