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Debt Ceiling & Government Spending

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Mon
Dec 6th

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DropKickFlutie

Veteran Starter w/Big Long Term Deal
This shouldn't be a partisan issue...

"Yellen [warned] that the country could default on its debt as soon as next month and is casting new urgency on the behind-the-scenes discussions about how to raise the debt ceiling.

The increasingly partisan fight comes as Congress deals with a full plate of legislative issues, including funding the government by month’s end and the sweeping $3.5 trillion spending package.

Yellen tried to drive home the stakes in a letter to lawmakers warning that amid a pandemic, which rocked the global economy, “it would be particularly irresponsible to put the full faith and credit of the United States at risk.”

The debt ceiling kicked back in on Aug. 1 after a suspension included in a 2019 budget deal expired without action from Congress. The Treasury Department has been using “extraordinary measures” to keep the U.S. solvent since then, but they will run out next month, Yellen warned Wednesday.

“Once all available measures and cash on hand are fully exhausted, the United States of America would be unable to meet its obligations for the first time in our history,” Yellen said."

 

Ring 6

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That is not a factual report it is a study that estimates there is “income” not being taxed, largely through properly filed returns. Read the study not the headline.
Stop letting liberals make up things to give a target for you to hate.
 

IllegalContact

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That is not a factual report it is a study that estimates there is “income” not being taxed, largely through properly filed returns. Read the study not the headline.
Stop letting liberals make up things to give a target for you to hate.

Oh I don’t care…..the rich need to be taxed the way they were prior to Reagan ….. it’s what made America great
 

Ring 6

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Oh I don’t care…..the rich need to be taxed the way they were prior to Reagan ….. it’s what made America great
We’re this even true 163,000,000,000
would reduce the national debt from 22,800,000,000,000 to 22,637,000,000,000.
Or less than 1%.
If we took it from the rich and redistributed it to the other 99% each person would receive $500. Which is better for the economy? Investors, and business owners having more money to grow their investment, their business, create jobs, increase pay, or everyone having $500?
It would cost the average guy more than $500.
But wait, we already did this. We gave you and other low income people 2.6 TRILLION in stimulus. That is 16 times the 163 billion pipe dream. (These numbers are as of October so it’s probably more, you’ll have to help me though I don’t get stimulus checks, did you get one after 19/20?)
 

fnordcircle

The poster who James White said inspires him.
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We’re this even true 163,000,000,000
would reduce the national debt from 22,800,000,000,000 to 22,637,000,000,000.
Or less than 1%.
If we took it from the rich and redistributed it to the other 99% each person would receive $500. Which is better for the economy? Investors, and business owners having more money to grow their investment, their business, create jobs, increase pay, or everyone having $500?
It would cost the average guy more than $500.
But wait, we already did this. We gave you and other low income people 2.6 TRILLION in stimulus. That is 16 times the 163 billion pipe dream. (These numbers are as of October so it’s probably more, you’ll have to help me though I don’t get stimulus checks, did you get one after 19/20?)

Nobody is suggesting to 'redistribute' jack, that's just a fake argument that exists only in the head of tighty righties who are trying to protect all the rich. If the rich are mooching off of the rest of us to the tune of 163b then we should get that taxe revenue and use it for its intended purpose not made up scenarios where everyone gets $500 to spend on malt liquor and scratch tickets.

We should have a system which taxes all fairly and an IRS with a budget to go after tax cheats all across the spectrum.

But, either way, that's not going to solve the debt ceiling issue that is constantly weaponized by the right when there isn't a GOP prez in the office trying to ram a 'cut taxes for the rich' bill through congress laden with poison pills should a Dem president take office in the following term.
 

IllegalContact

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We’re this even true 163,000,000,000
would reduce the national debt from 22,800,000,000,000 to 22,637,000,000,000.
Or less than 1%.
If we took it from the rich and redistributed it to the other 99% each person would receive $500. Which is better for the economy? Investors, and business owners having more money to grow their investment, their business, create jobs, increase pay, or everyone having $500?
It would cost the average guy more than $500.
But wait, we already did this. We gave you and other low income people 2.6 TRILLION in stimulus. That is 16 times the 163 billion pipe dream. (These numbers are as of October so it’s probably more, you’ll have to help me though I don’t get stimulus checks, did you get one after 19/20?)

the top rate needs to be doubled
 

Ice_Ice_Brady

Antonio Brown’s New Live-In Chef
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  • Santa Claus delivers presents on Christmas.
  • The tooth fairy leaves money under your pillow.
  • The uber rich 400 people who possess half the wealth of 300M people are necessary job creators and an overall benefit to society.

There will never be any civil war or severe conflict between “the Democrats” and “the Republicans”. Both are represented by similar ultra rich interests. This is why Democrats prefer to really get nothing done and would be middle-right internationally. They also shame themselves over “socialism” even though higher taxes are not a socialist, totalitarian concept, and currently the system is exactly the type of plutocracy the founding fathers feared.

The power and influence is completely centralized and will continue to be that way as long as politicians continue to get elected to keep the status quo, elitist talking points like trickle down economics and similar asinine ideas. The work week gets longer, the middle class shrinks, everyone’s quality of life decreases but the Koch brothers triple their billions of dollars every decade.
 

IllegalContact

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  • Santa Claus delivers presents on Christmas.
  • The tooth fairy leaves money under your pillow.
  • The uber rich 400 people who possess half the wealth of 300M people are necessary job creators and an overall benefit to society.

There will never be any civil war or severe conflict between “the Democrats” and “the Republicans”. Both are represented by similar ultra rich interests. This is why Democrats prefer to really get nothing done and would be middle-right internationally. They also shame themselves over “socialism” even though higher taxes are not a socialist, totalitarian concept, and currently the system is exactly the type of plutocracy the founding fathers feared.

The power and influence is completely centralized and will continue to be that way as long as politicians continue to get elected to keep the status quo, elitist talking points like trickle down economics and similar asinine ideas. The work week gets longer, the middle class shrinks, everyone’s quality of life decreases but the Koch brothers triple their billions of dollars every decade.

let the rich pay for the excess military costs.......they'd just be paying themselves anyway
 

PP2

Pro Bowl Player
Republicunts are holding the debt ceiling hostage and will refuse to vote on it because they want to sabotage infrastructure and reconciliation (both bills will die if debt ceiling doesn't get raised). Dems are daring them to let the government go bankrupt. It's essentially a staring match right now.
 

Ring 6

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Nobody is suggesting to 'redistribute' jack, that's just a fake argument that exists only in the head of tighty righties who are trying to protect all the rich. If the rich are mooching off of the rest of us to the tune of 163b then we should get that taxe revenue and use it for its intended purpose not made up scenarios where everyone gets $500 to spend on malt liquor and scratch tickets.

We should have a system which taxes all fairly and an IRS with a budget to go after tax cheats all across the spectrum.

But, either way, that's not going to solve the debt ceiling issue that is constantly weaponized by the right when there isn't a GOP prez in the office trying to ram a 'cut taxes for the rich' bill through congress laden with poison pills should a Dem president take office in the following term.
First read the article and the actual “study” the headline is far from an accurate summary. Essentially the study “thinks” that the top 1% probably own businesses and “thinks” that legitimate business tax processes amount to hiding money (a big part of their guesses are based upon legal pass through entities equaling “mooching”

Secondly, duh, no one is talking about handing people direct checks. But if you take more from some you either take less from others or give it to them in some form.

I completely agree we should have a fair tax system and strong enforcement. That’s not what this article is about. Instead we have discourse that having wealth and not paying more income tax is unfair.
I’ll give you analogy that someone gave me.
If I had 3 baseball cards when I was a kid, and I traded 2 of them to other kids for a slingshot and a goldfish, then they turned out to be 3 Honus Wagner type cards and one kid sold his for $5,000,000. A wealth tax says I would now have to pay tax on the $5,000,000 I have never received.
And we have a discourse about rich people having write offs. Which is a crap argument. Write offs are reductions in
income because you spend the money in pursuit of the profit. It’s like saying your Uber driver makes $100 today but had to pay $40 for gas and tolls in order to earn the $100 and he should pay tax on it just like you would on a $100 salary.

Your final point is about something different so I’m going to not address it right now but it’s a good topic.
 

DropKickFlutie

Veteran Starter w/Big Long Term Deal
Republicunts are holding the debt ceiling hostage and will refuse to vote on it because they want to sabotage infrastructure and reconciliation (both bills will die if debt ceiling doesn't get raised). Dems are daring them to let the government go bankrupt. It's essentially a staring match right now.

I would say it would rival the civil war in terms of major existential events in American history if they can't figure this out and if the government defaults on debts. The entire world would change in 1 hour.

.
 

Ring 6

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the top rate needs to be doubled
the end GIF
 

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