Viral
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More dollars than galaxies in the Universe
As Congress turns its attention to the budget and the country’s fiscal situation, the debt ceiling debate that has been simmering underneath the surface could come to a boil in the near future.
The Treasury Department estimates that the United States will reach its debt limit between April 15 and May 31. Administration officials are ringing alarm bells and warning of dire consequences if the $14.3 trillion ceiling isn’t raised.
“Republicans in the Senate will not be voting to raise the debt ceiling unless we do something significant about the debt,” Senate Minority Leader Mitch McConnell, R-Ky., said earlier this month. “I don’t think he [Obama] has to lay out in public exactly what he’s willing to do, but we need to begin serious discussions, and time’s a wasting.”
Senate Republicans reportedly are working on a Balanced Budget Amendment, a Constitutional amendment that would require a balanced budget every year, as a condition to raising the debt ceiling.
The Tea Party’s influence could make negotiations more challenging, especially if the two parties and Obama cannot find a middle ground on how to cut entitlement programs.
Treas. Sec. Geithner warned that a failure to raise the debt limit would mean the government would not be able to make the payments on the current debt, which stands at $13.96 trillion. “Even a very short-term or limited default would have catastrophic economic consequences that would last for decades.”
Here’s a report on the census numbers:
http://tinyurl.com/4pk4qmn
In a nutshell:
The eight states with no state income tax grew 18 percent in the last decade. The other states (including the District of Columbia) grew just 8 percent.
The 22 states with right-to-work laws grew 15 percent in the last decade. The other states grew just 6 percent.
The 16 states where collective bargaining with public employees is not required grew 15 percent in the last decade. The other states grew 7 percent.
#34, Liberty Loser,
Turns out the top 1% of wage earners in the country fund 38% of the tax revenues.
Guess what. That 1% also controls the majority of wealth in this country.
In 1928, the top 1% controlled 23.9% of the economy. That decreased to 9% in the mid ’60s. By 2007 it was back to 23.5%. (At the current rate of growth, that number will be a lot higher today.) So before the the two worse economic downturns of the past 100 years, the uber rich have controlled an inordinate amount of the economy.
http://tinyurl.com/26bd7yk
We could have paid for those services we expect from the government. Reagan told us we could cut taxes AND have our “entitlements”. Reagan boosted the debt to $1 trillion from a few billion.
From 1978 to 2005, under “Reduce taxes Republicans”, Fed. spending increased 12.1%, the debt by 36.4% and GDP by 10.7%. Under those “Tax and spend democrats”, spending rose by 9.9%, the debt by 4.2%, and GDP by 12.6%.
http://tinyurl.com/28t2of
It is time to raise taxes on the rich.
#37 – The 8 middle eastern countries with monarchies also had quite good economies, perhaps there is a link?
#38, Sounds like you didn’t read the second link. Taxing the rich is false security. It’s part of the problem we have now.
BTW . . . Why would you sacrifice a bunch of kids for your wife? Man up. You’ve had a year to grow a pair.
#40 You tax wealth, not people. The “rich” you refer to own 95% of the wealth. So by taxing where the wealth is, guess what, => tax the rich.
A sales tax, income tax, capital gains tax,…. is all about taxing the transfer for wealth.
We do not have a simple flat tax so get over it. I don’t like it either because I also pay what you call an ‘unfair tax’. Well, it’s a scaled tax system because wealth is so skewed.
Some day, it will all make sense to you when you grow a brain.
#37, those states grew in population but look up some other facts on “right to work” states. The reason people move to right to work states is because the jobs are moving there, the companies want to move away from the unions. Also some of those states mentioned in that article happen to have the highest amount of people on welfare. Even when the companies move out of union states, years later they decide the American worker still needs to be paid more (damn that federal minimum wage) so they move overseas or to Mexico.
What always boggles the mind is that some of the red states are high on the list of people receiving government assistance yet they continually rant against government assistance.
Just more common sense conservative thinking. Like, you create jobs by getting rid of jobs. Or, you raise revenue by cutting revenue. Then, cut corporate tax rates even further so you can justify getting rid of even more jobs. Next, cut the pay and benefits of the remaining workers (who are also battling rising inflation) so they will have even less to spend in their local communities. It’s why Herbert Hoover is considered by historians to be our greatest president.
“… preventing the next technological/medical/industrial miracle from being invented and exploited in this country.”
There are no miracles, just hard work.
You seem to think that past messes can be forgotten.
Are you dreaming? The financial mess we are in is akin to every other mess we’re in.
Your thinking is incongruent.
Hmmmm, Pedro–what are the odds your wife is making you go to her canasta club? Ha, ha.
Loser–fer Christ’s sake, you really have drunk the kool aid. No talking to you I know. I am recognizing the role/command of “dogma” more and more all the time. Almost any “issue”/political theme/talking point is “valid” but only to a degree. Its ying and yang, a thing always containing its opposite, things must be appreciated in balance.
Dogma picks one and ignores the rest. Bad philosophy. The goal is to balance “everything” otherwise you are just a fool.
I think it is assumed that nobody believes we should “invest” social security in the stock market. I don’t know too many who would agree to do that. I know I wouldn’t.
So, based on that assumption, is it also fair to say that relying on the taxes from people who make most of their money on the stock market is just as asinine?
#45->”The reason people move to right to work states is because the jobs are moving there, the companies want to move away from the unions.”
Of course, they are!
As for the rest, we would like to see some references, please, to back up your claims.
#51–G2==each position argued by #45–Simon has been the subject of a thread/link on this blog in the somewhat distant past. Its all credible on its face as well.
I’m too lazy to look it up too and why bother when the conclusions are evident just by LOOKING! — unless you want to argue the point that labor costs are not driving jobs overseas?
Is that your position bunky?
#52, “Bunky”? Have I ever called you a name? Why start with that? I noticed that you read a lot. Is Bunky a name in one of those comic books you read a lot of?
Labor Costs are driving jobs overseas but not exclusively.
So Bunky–why do you challenge a position you basically agree with but not exclusively?
#54->Um, you may read a lot but you sure aren’t reading anything here . . . unless you considering reading something into what someone else wrote.
Obama has gone to at least 3 different states telling them that less spending is a bad idea.
Wisconsin and the unions, Florida and high speed rail, and another state with education.
Not too surprising from a president that adds trillions to the debt each year, as well as increasing the deficit to over one trillion dollars per year. Take George Bush’s biggest deficits, and double or triple them.
Well Bunky, I can see you are three steps ahead of me and I ought to quit while I’m only a little bit behind.
Sure wish I liked candy.
Hey Mickey–recess over?
Got a link to the full quotes your talking points were taken from?
I know this is going nowhere but your complaint is like BushtheRetard throwing our economy of a 100 foot cliff and handing the economy off to Obama after the first 10 feet. Yes, the economy is going to fall the other 90 feet before finding a new base to build on.
Whats too bad is you ass wipes are already busy digging a hole in the ground to move the economy even deeper.
Silly PUKES – destroying America with every loopy Dogma they spew.
#59–Alfie the Talking Points Spam Bot==we need a zero taxation policy so that job creation can really take off!
What a tool.
Stolen from the comments of another blog…
We need a Dumbass Tax…to pay for all the damage done by Bush. I estimate that between the Iraq War, the financial meltdown, Medicare Part D, and his worthless unstimulative tax cuts, we’re looking at a total tab of $2 Trillion. It’s not fair to me that I have to pay for the damage done by the dumbasses that voted for Bush. Here’s what I propose:
Tier 1: Voted for Bush in 2000 but not in 2004: Amnesty, you were dumb but you repented.
Tier 2: Voted for Bush in 2004, after it was clear he had lied us into Iraq. Pay $x in special dumbass taxes.
Tier 3: Voted for Bush in 2004 and any Republican candidates in congress in 2006. Pay $2x in the dumbass tax.
Tier 4: Voted for McCain/Palin in 2008. Pay $4x in dumbass taxes and your voting rights are suspended for the good of the nation and the world.
Tier One is too lenient. Bush was a proven idiot on the record he had at the time. Born with a silver coke spoon in his mouth. Shameful.
Wisconsin Gov. Scott Walker (R) was launching an “assault” on public-sector unions.
He told the Miami reporter that Florida Gov. Rick Scott (R) was “wrong” to cancel plans for a federally backed high-speed train in the state.
The Pittsburgh and Philadelphia stations made news when Obama told them that state lawmakers should be leery of adopting Republican Gov. Tom Corbett’s proposed education cuts.
http://washingtonpost.com/politics/obama-rewarding-local-stations-in-key-states-with-biggest-get-in-tv-news/2011/03/24/AFitvclB_story.html?hpid=z2
#63–Lyin’ Mike==ever try barking up the “right” tree? Ha, ha. Yes, context is everything. Do you think you aren’t so demonstrably wrong that your link actually supports what you posted? If so, you aren’t actually a liar, just stupid.
Just what kind of tool are you Mickey?
People, people – relax. This is not a big deal. Remember we’re talking about American dollar here, not real money.
#66 Foobar for the Win!!
ROTFLMAO Oh my word. I think I may have spotted.
Here’s how it could go (I know, we already played this game once before)
Fire the IRS and implement the Fairtax (because it catches everyone, to include the rich, corps and “non-profits”)
Repeal the exemptions on Social Security tax (those making over 6 figures can afford to pay the same rate as the rest of us) And then get that money the heck out of the General Fund
Bring all the boys and girls in uniform home, regardless of the location. Let the guys who actually fight decide what gear they need, regardless of what district or state something is made in. Put ’em in tents on the border until the Mexican government realizes we can be serious about drugs, guns and immigrants. (okay, who am I kidding, but I can DREAM we can be serious)
Defund the UN and all foreign aid. I’ve nothing against helping out with earthquakes and tsunamis and alien invasions, but what amounts to bribes, I’m not so keen on.
If we really need to “invest” in rail let the former IRS employees build it. By hand with pick, hammer and shovel.
Grab anyone else on the dole that isn’t nursing a baby and let them fetch railroad ties and spikes for our formerly desk-bound IRS. They can’t possibly work any slower than my local highway department.
But alas, (I’m almost afraid to say it, but…) Alfie may be right about something that matters: I think it’s to late.
ps. Alfie- after your third vodka and redbull, push back from the keyboard for a while. You’re going to pop something you may need after the Big Bust.
Les