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Fair Share Taxes and our Budget

Discussion in 'Political Discussion' started by PatriotsReign, Aug 10, 2012.

  1. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Fair Share Tax Hikes
    A set of questions for the "fair share" tax proponents.


    1. Would fair share tax hikes be enough to fund US government spending?
    2. What if we took 100% of the profits of Walmart and Exxon Mobile?
    3. What if the corporate tax rate was 100% for every corporation?
    4. What if we confiscated 100% of the wealth of the super-wealthy including Warren Buffet and Bill Gates?
    5. What if we did ALL of the above? Would that balance the budget?



    To meet total spending requirements of $3.2 trillion, but not counting $117 trillion in unfunded liabilities, not only would we have to do everything in the five point list above, but we would have to take the combined salaries of all players in the NFL, Major League Baseball, the NBA, and the NHL, cut military spending by $254 billion, and tax everything people make above $250,000 at a 100% tax rate.


    That's what it would take to meet the 2012 budget of $3.8 trillion. It would do nothing to pay down the existing national debt of close to $16 trillion. It would not come remotely close to meeting $117 trillion in unfunded liabilities.

    Mish's Global Economic Trend Analysis: Reader Question: Could Obama Balance the Budget by Getting the Wealthy to Pay Their "Fair Share"?
     
    Last edited: Aug 10, 2012
  2. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Additionally the source of revenues would be gone the following year since the gov would have confiscated it already.
     
  3. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    cutting teachers pay will solve all of this.
     
  4. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    What will "solve all of this" HD?

    Do you think it needs to be solved or should we just ignore it?
     
  5. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Sounds to me like the sarcastic solutions are a white flag. All I hear from people, is the same crap about how we got into this mess...


    I tell you who is NOT contributing to this mess....Teachers, firemen, and cops..


    Maybe we should stop fighting wars
    stop building bombs
    put americans to work
    stop giving $$ to oil companies
    make people all pay the same % of taxes
    invest in our children

    I've actually stopped believing that things will get better. The simple fact that we have to argue that humans deserve to go to a doctor is fukcing disgusting. Yet we DON'T have to argue that we neeed a drone-stealth-tank.

    We suck, and will continue to suck. And idiots will get mad at that and wonder why I don't believe in dumb $#!t like "American Exceptionalism" while they go get a chicken sandwich because they can't stand gay people getting married....yeah....what an exceptional people we are....

    Welcome to Costco, I love you.
     
  6. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    This won't work the numbers won't work. the amount of GDP spent by government must be reduced, we need to provide incentive to people to build enterprises so they will hire people and create wealth government is overhead it does not create wealth.

    Too many people believe government 'grants' rights and create jobs and wealth, this is why the mess won't be solved.
     
  7. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    I have mentioned this since the election but I will mention it again ... that is tax breaks etc for companies doing business in the USA. This was a major promise of Obama pre election, I also think Bush mentioned it here and there but I am not sure.

    Anyways ... on the surface seems to be a no brainer ... yet it does not get done. The money flowing to DC from businesses out sourcing and doing business overseas far outweighs the political risk of carrying out this campaign promise. I think romney now promises the same ... but he won't do it either.

    So we hear the talk and they want to tax the rich instead. but we would be so much better off if just had more people employed who pay taxes. Imagine if Apple and others had just 1/2 their work force here? Not going to change unless campaign finance laws are made to benefit the average American.
     
  8. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    We step baqck from the rest of the world for one year, re-instate tarrifs, declare our foreign debt null and void and tell everyone we owe money to that we're not paying. Consider all the work we've done developing the planet and keeping people safe from tyranny (except the Muslims- but who cares about them?) and ending the two world wars, leadint the spece thing (satellite TV and cell phones) inventing the internet, Kim Kardashian and rock-and-roll...and we're even. Period.
     
  9. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Especially the war profiteers and oil barons.. who get the fattest off of our tax dollar.
     
    Last edited: Aug 11, 2012
  10. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Actually, firemen and cops are a HUGE contributing factor to "LOCAL/MUNICIPAL" budget deficits. Which is exactly why some localities are letting them all go and re-hiring new "non-union" employees to replace them.

    Teachers don't get the sweet deals that firemen & cops get.


    Camden NJ, Population 77,344 Fires Entire Police Force, 270 Officers; Why Cities are Going Bankrupt

    Mish's Global Economic Trend Analysis: Camden NJ, Population 77,344 Fires Entire Police Force, 270 Officers; Why Cities are Going Bankrupt
     
    Last edited: Aug 11, 2012
  11. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Sometimes your choice of words sound communist.
     
  12. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Wow! All true AND I agree with your solution 100%.

    If "they" don't like it, fugg em!! :D
     
  13. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Anyone care to comment upon the list of FACTS above rather than making comments on what is NOT on the above list?
     
  14. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    So I take it you do not understand communism.. it is more than a sound byte.
     
  15. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Another communist response!
     
  16. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    My point....
     
  17. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Mine too!:p

    Seriously...would you like to see the USA become a communist nation?
     
    Last edited: Aug 11, 2012
  18. PatsFanInVa

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    You're really, really grasping at straws.

    First we have a "look at how big 3.6 trillion bucks is" kick-off, whoopie, we know this.

    Then the follow up is "you sound like a communist."

    Cut the military budget by 50%, PR, and just continue that into the out years. Opening bid.

    You down?

    You know as well as I do that the name of the game in debt and deficit reduction is where you get it from...

    Of course the name of the game is also running around with your hair on fire saying "OMG we have to cut our way to a balanced budged RIGHT NOW, because revenues can never grow and there MIGHT NOT BE A FUTURE!!!!"

    Truth: The way you fix deficits is to cut the right things, at the right time, and increase revenues -- both by GDP growth and realistic tax rates, say, along the lines of the pre-Bush model. You know as well as I that economic recovery broadens the base, because more people have jobs and therefore tax liability. Last, you know as well as I that the most important problem facing our economy continues, in fact, to be horrific demand (not "a chill" or "uncertainty" or any of that other bullstuff we say keeps people from growing their businesses. There is always uncertainty and risk. The question is whether anybody wants your product.)

    The private sector is moving the right direction, being dragged down by a public sector laying people off... the reverse of what we have done in every previous recession, the result of people saying "are you a COMMUNIST" because the would-be government-growers are Dems instead of pubbies. (When the pubbies do it, it's not communist, it's smart business... blah blah blah.)

    Truth is, the guy who fixes what ails ya is already in the White House. You just like posting "ZOMG!!! Look how big 3.6 trillion bucks is!!!!" posts.

    So how about it - 50% off the military budget from now on forever on all known military budget numbers in development. Is that what you're asking for?

    Top marginal rage of 90%, like under Eisenhower?

    Target revenue goal of 20% of GDP, so it's more in line with historical norms, instead of an aberrantly low revenue collection of 15% of GDP?

    What exactly is your Rx? Cuz you know "give everything to rich people" ain't it.

    PFnV
     
  19. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    You know as well as I do that I agree with cutting military spending and raising the tax rates upon our wealthy...but definately NOT to 90% as that would be pseudo-communist/socialist.

    I asked Darryl if he would favor going communist and he didn't answer. Darryl often uses terminology of radical leftist factions, so I'd like to know what his real beliefs are. Unless he's too ashamed to admit them.

    But it was kind of you to come to Darryl's defense even though you're not as radical as he is....

    I've heard Elizabeth Warren's ad citing college loan debt is at an all-time high and she says that's wrong yet she does not provide any solutions. We can banter around many ideas on solutions to our problems but it's really a waste of time because in the end, we'll each have to pick the candidate with the platform that is closest to our beliefs. I can guarantee you no candidate is going pick up their solution from Patsfans.com
     
    Last edited: Aug 11, 2012
  20. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Where is the Obama plan to do anything but trillion dollar plus deficits?

    Where is the Obama plan to reform entitlements?

    Nothing but crickets there just attacks of any proposals that deviate from the status quo.
     

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