dmarc117 Posted July 16, 2006 Share Posted July 16, 2006 http://www.telegraph.co.uk/money/main.jhtm.../14/ixcity.html A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency, according to research by Professor Laurence Kotlikoff for the Federal Reserve Bank of St Louis, a leading constituent of the US Federal Reserve. Quote Link to comment Share on other sites More sharing options...
cliaz Posted July 16, 2006 Share Posted July 16, 2006 grand. Quote Link to comment Share on other sites More sharing options...
Voltaire Posted July 16, 2006 Share Posted July 16, 2006 I've been worrying about this exact thing. We're running up huge budget deficits and mortgaging the future. Our first place to go to borow money, the Social Security surplus will be drying up soon too and start pulling money from the general fund, instead of providing a cash cow to milk and fill up with IOUs. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted July 17, 2006 Share Posted July 17, 2006 I've been worrying about this exact thing. We're running up huge budget deficits and mortgaging the future. Our first place to go to borow money, the Social Security surplus will be drying up soon too and start pulling money from the general fund, instead of providing a cash cow to milk and fill up with IOUs. What are you talking about? We're in good hands with fiscal conservatives. There is no debt. All is well. Quote Link to comment Share on other sites More sharing options...
loyalboyd Posted July 17, 2006 Share Posted July 17, 2006 What are you talking about? We're in good hands with fiscal conservatives. There is no debt. All is well. Quote Link to comment Share on other sites More sharing options...
Beaumont Posted July 17, 2006 Share Posted July 17, 2006 Good gravy I am glad they cut the tax rates for the wealthiest Americans. Doesn't this sound like a grand time to get rid of the Estate Tax too? Quote Link to comment Share on other sites More sharing options...
spain Posted July 17, 2006 Share Posted July 17, 2006 Oh the irony when Democrats talk about balancing budgets and controlling the deficits. I do notice that not one of you socialists ever suggests cutting spending on the trillions wasted on your welfare/social programs. Your only answer always involves more taxes for the middle class who you conveniently refer to as "the wealthy". Dumbasses! No wonder you cant win the Presidency when only welfare leeches, homo's, and folks with their hands out will vote for your candidates. Give me a break you morans... Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted July 17, 2006 Author Share Posted July 17, 2006 A ballooning budget deficit and a pensions and welfare timebomb could send the economic superpower into insolvency Quote Link to comment Share on other sites More sharing options...
spain Posted July 17, 2006 Share Posted July 17, 2006 The Democrats conveniently ignore the welfare timebomb problem. Quote Link to comment Share on other sites More sharing options...
Beaumont Posted July 17, 2006 Share Posted July 17, 2006 (edited) Oh the irony when Democrats talk about balancing budgets and controlling the deficits. I do notice that not one of you socialists ever suggests cutting spending on the trillions wasted on your welfare/social programs. Your only answer always involves more taxes for the middle class who you conveniently refer to as "the wealthy". Dumbasses! No wonder you cant win the Presidency when only welfare leeches, homo's, and folks with their hands out will vote for your candidates. Give me a break you morans... Oh my god this is good schtick ... Please explain to me how opposition to cutting the very top tax rates and eliminating the estate tax "involves more taxes for the middle class who you conveniently refer to as "the wealthy"". I can wait for eternity Spain and you never, never, never will be able to answer this because you speak with forked tongue ... BTW, I am 100% for cutting many social programs/corporate welfare schemes. Seems the GOP has no stomach for that though ... Edited July 17, 2006 by Beaumont Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted July 17, 2006 Share Posted July 17, 2006 (edited) Good gravy I am glad they cut the tax rates for the wealthiest Americans. Doesn't this sound like a grand time to get rid of the Estate Tax too? Beau, there were tax cuts for all Americans, and even after the tax cuts, the "wealthiest still pay a higher taxes than everyone else (both in $ and as a % of income), and get less in return for their tax dollar. That being said, I'd be for raising taxes to take care of the debt, provided for ever additional $ taxed, that a dollar was taken out of the budget (excluding defense and border control). And if said tax cut was temporary, and that the minute that spending is increased, that taxes are decreased by the same proportion as spending was increased. Would you go for that? And sense we need to tax, why not make every estate taxable? Afterall, those that recieve the estates didn't earn it, so they shouldn't complain. Edited July 17, 2006 by Perchoutofwater Quote Link to comment Share on other sites More sharing options...
Beaumont Posted July 17, 2006 Share Posted July 17, 2006 Beau, there were tax cuts for all Americans, and even after the tax cuts, the "wealthiest still pay a higher taxes than everyone else (both in $ and as a % of income), and get less in return for their tax dollar. That being said, I'd be for raising taxes to take care of the debt, provided for ever additional $ taxed, that a dollar was taken out of the budget (excluding defense and border control). And if said tax cut was temporary, and that the minute that spending is increased, that taxes are decreased by the same proportion as spending was increased. Would you go for that? And sense we need to tax, why not make every estate taxable? Afterall, those that recieve the estates didn't earn it, so they shouldn't complain. 1. I was not really up for cutting anyones taxes, but by far the cuts benefitted the wealthiest Americans (in terms of $$$ not collected as revenue). I dont think you cut taxes during times of deficits. That is fiscally irresponsible. 2. I will hold your hand and sing campfire songs if we can resolve the deficit 50% by raising taxes, 50% by cutting non-defense spending. This is an eminently reasonable position. There should be a limitation that neither spending may be raised nor taxes may be lowered until the deficit is elimiated, and then only so long as the budget is still balanced. 3. I am not sure why you would want to tax the first two million of estates (four million if you are married). That really would sink the ol' family farm. Its not a question of whether they "earned" it or not, but a question of whether we want to allow tax free transfer of wealth up to a point (i.e., with a dollar limitation). There is no reason that you cannot limit the exemption ... and you certainly should limit the exemption, since you need the tax for revenue. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted July 17, 2006 Share Posted July 17, 2006 3. I am not sure why you would want to tax the first two million of estates (four million if you are married). That really would sink the ol' family farm. Its not a question of whether they "earned" it or not, but a question of whether we want to allow tax free transfer of wealth up to a point (i.e., with a dollar limitation). There is no reason that you cannot limit the exemption ... and you certainly should limit the exemption, since you need the tax for revenue. I have to admit, this one is out of spite. Maybe if everyone had to sell of a good portion of what their parents worked so hard to earn, that the would not be so quick to take from me what parents worked so hard to earn. I'm just a tad bitter when it comes to this subject if you didn't know that already. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted July 17, 2006 Share Posted July 17, 2006 I can wait for eternity Spain and you never, never, never will be able to answer this because you talk utter $hit. Fixed. Let us call a spade a spade. Quote Link to comment Share on other sites More sharing options...
i_am_the_swammi Posted July 17, 2006 Share Posted July 17, 2006 Give me a break you morans... I am not related to Erin Moran. And next time you chat with that puppet named George Bush, thank him kindly ofr wasting BILLIONS of dollars on a war in which he has no right to participate, and no chance to win. Quote Link to comment Share on other sites More sharing options...
skins Posted July 17, 2006 Share Posted July 17, 2006 Why dont Republicans want Americans to sacrifice in a time of war? Quote Link to comment Share on other sites More sharing options...
untateve Posted July 17, 2006 Share Posted July 17, 2006 neither party is fiscally conservative. Quote Link to comment Share on other sites More sharing options...
DKF Posted July 17, 2006 Share Posted July 17, 2006 We should just get rid of all governments, so that everyone can just live in peace. Quote Link to comment Share on other sites More sharing options...
Kid Cid Posted July 17, 2006 Share Posted July 17, 2006 neither party is fiscally conservative. That right there is the crux of the problem. Once we get our military back home and stop spending billions of dollars we don't have on them, it'll take a harsh, across the board cut on ALL government spending to bring things back under control. Neither party has the balls to do it. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted July 18, 2006 Share Posted July 18, 2006 Beau, there were tax cuts for all Americans, and even after the tax cuts, the "wealthiest still pay a higher taxes than everyone else (both in $ and as a % of income), and get less in return for their tax dollar. That being said, I'd be for raising taxes to take care of the debt, provided for ever additional $ taxed, that a dollar was taken out of the budget (excluding defense and border control). And if said tax cut was temporary, and that the minute that spending is increased, that taxes are decreased by the same proportion as spending was increased. Would you go for that? And sense we need to tax, why not make every estate taxable? Afterall, those that recieve the estates didn't earn it, so they shouldn't complain. BS Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted July 18, 2006 Share Posted July 18, 2006 Here's the paper that I assume the article is referring to. Waiting for Wiegie to come along and decipher it for the rest of us. Is this guy being to negative, or is he spot on with how much trouble we are in? Quote Link to comment Share on other sites More sharing options...
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