2007 Budget was $2.8 Trillion with $2.6 Trillion in Revenue
2011 we spent $3.83 Trillion with $2.5 Trillion in Revenue
We have a spending problem.
"Leeway" isn't just about money, but rather politics, as well. A return to Clinton era taxes is just a small step in the right direction.
It's also about the problem facing all advanced economies, excessive concentration of economic power & resource ownership. The top 1% share of national income has doubled over the last 30 years, thanks to a flawed tax & corporate structure, and will likely double again over the next 30 years if current thinking prevails.
Plutocracy & egalitarian democracy aren't really compatible, no matter how desperately Righties want to believe that they are.
Generally 'user fees' and such things are flatter than income taxes. It's one of the reasons they are currently in vogue. Even property taxes are flatter than income. This isn't necessarily a bad thing, but the answer to your question is that the distribution of tax payment is flatter now than it would be under a more income-tax dominant system. I don't think that's the answer you were looking for here.
Those "so-called entitlement" commitments are exactly what is going to eat us alive going forward. Using what you just said, not changing it for people who are to late in life to adjust this is what Federal healthcare spending will look like going forward:Jhhnn, there's not a lot of room for flexibility, if by flexibility you mean the usual, which is 'spend more'. Responsible deleveraging is going to require cutting up the national credit card, and making some seriously hard choices. Like any debtor (well, any debtor who wakes up and makes a plan to repay, before it's too late), there will have to be spending along the way (people gotta eat!), but your statement is exactly why buckshot made the statement he made.
He's wrong; spending cuts alone cannot, will not get America out of the hole it is in. I would estimate 10-15 years of increased taxes, severely careful spending, a focus on debt reduction, and possibly a mild inflationary monetary policy (which, when intentional, is just another 'tax'; albeit one that acts as an incentive to invest). This might bring Debt:GDP to a level that is sustainable and not crippling.
But you are wrong, too; public spending needs to be focused on maintaining existing infrastructure, meeting so-called 'entitlement' commitments, particularly to those too late in their careers to adjust (in case it matters, this would not include me), industrial and business regulation and support, emergency services, etc.
To take your example further, it'd be like agreeing that the yards in the neighborhood absolutely need to be cut, they're way too high. Each and every time we've lent the lawnmower (which is plenty big enough to get the job done) to the kid that cuts them, he F'ing destroys the lawnmower, each time promising he'll get it right this time, each time, F'ing it up worse.
Moonie is suggesting we send the kid out with our lawnmower again. I'm suggesting we don't and let the kid figure out how to get the lawns cut which is his responsibility to do. Maybe the kid will finally figure it out. If he doesn't, are we any worse off? Nope, but at least we've got a working lawnmower and our own yards are straight.
Interesting point: When asked if Moonie is going to lend the kid his lawnmower this time, Moonie ducks question with insane post. Weirdly, other Lefties on this board when asked same question don't like it either. Shocker.....
Generally 'user fees' and such things are flatter than income taxes. It's one of the reasons they are currently in vogue. Even property taxes are flatter than income. This isn't necessarily a bad thing, but the answer to your question is that the distribution of tax payment is flatter now than it would be under a more income-tax dominant system. I don't think that's the answer you were looking for here.
Jhhnn, there's not a lot of room for flexibility, if by flexibility you mean the usual, which is 'spend more'. Responsible deleveraging is going to require cutting up the national credit card, and making some seriously hard choices. Like any debtor (well, any debtor who wakes up and makes a plan to repay, before it's too late), there will have to be spending along the way (people gotta eat!), but your statement is exactly why buckshot made the statement he made.
He's wrong; spending cuts alone cannot, will not get America out of the hole it is in. I would estimate 10-15 years of increased taxes, severely careful spending, a focus on debt reduction, and possibly a mild inflationary monetary policy (which, when intentional, is just another 'tax'; albeit one that acts as an incentive to invest). This might bring Debt:GDP to a level that is sustainable and not crippling.
But you are wrong, too; public spending needs to be focused on maintaining existing infrastructure, meeting so-called 'entitlement' commitments, particularly to those too late in their careers to adjust (in case it matters, this would not include me), industrial and business regulation and support, emergency services, etc.
snip
Think of it this way. You are stuck on a frozen rock in the middle of a river in winter and up stream there's been a big rain and a wave is coming that will wash you away. And there you are on your rock, the shore x yards away, screaming it's insane to swim in this river, the water is too cold. So lucky you, because you live in an altered universe that knows what is insane, you will wait to do your swimming when the shore is x plus flood yards away, and the current will be a torrent. And there you are screaming 'swimming in cold water is insane'.
c: You've ducked all 4 questions I've asked you now, and posted more insanity. Honestly I can't tell if you're still doing parody posting or if you really are posting for real (they are very hard to tell apart most often). What was the problem answering the 4 questions, were they uncomfortable for your argument?
M: See my answer to buckshot on questions and why they are asked. We want to focus on the fact you won't admit the problem is real. That is what I think is important.
That sounds peachy, until we realize that one man's debt is another's financial asset, and that private debt dwarfs public debt entirely, thanks in no small part to the Ownership Society lifting us above any level of sustainability.
.
Same time next week doc?-snip-
The economy doesn't care what my motivations are for asking the question.Now:
"We know raising taxes won't help the economy, right?"
What we know is that all questions are motivated. They are asked for a reason, usually to set a mental trap, to confine one to a chain of rationalizations that lead the bigot from his feeling there is a good to the notion that good is as he defines it. So the real importance of your question isn't a yes or no answer that serves your motivation, but to know what your game is.
Of course I accept that deficits are a real problem, that's why I want to cut spending drastically. Getting $70 billion more out of raising tax rates on the "wealthy" is a band aid and we know it won't stimulate growth in the economy. That is if we use it to pay down the deficit instead of "redistribute" like libs like to do to stimulate economies."Do you agree with that or no?"
Yes. But it doesn't matter. The problem is real, deficits are a real problem, and that's what you won't accept. You already have told yourself you have your answers. You already know what the good is. You live in an altered reality, as I said.
I see now, you're simply insane, calling the sane, insane. Let me try and help you out with your own example, make it much more accurate so possibly even you can understand:
- We live in a coastal community to start, everyone having as nice views as they can have where wood is plentiful (can't live without wood).
- At some point, someone figures out that the views from that island are amazing, and they move out there, despite knowing that island will eventually flood; Everyone knows this, it is no secret.
- Problem is, the island only has so much wood on it.
- So for years, the people that moved out to the island laugh hysterically, talk derisively to the people with lesser views, trying to get them to come out to the island with them. Some go, others who are prudent stay, because they know, some day, that island is going to be flooded.
- All the while, as the number of people on the island grow, the wood on the island keeps being used at a faster and faster rate. Soon, so they can keep enjoying their views, they get people on the mainland to give them some mainland wood.
- At some point, the mainland people are done giving the selfish and shortsighted islanders wood. Either live within the wood budget that the island has, or, get off the island....the island that eventually will be flooded, remember that?
- Decades go by, the number of islanders grows and grows, but by god, the deficit spent wood to obtain those views, they're incredible!
- People on the mainland can see that enough time has gone by, that island is due for a flood, and the wood consumption on the island is just insane. It's got so bad, the wooden boats the prudent and merciful mainlands have sent so the islanders can get off the island are instead torn up and used for Pepsi and Cheeto huts, unneccessary fires, etc. etc.
- When told to start using these wooden boats they keep squandering to get off the island before its too late, the mainlanders are laughed at by the islanders.
- This goes on for at least a couple of decades. Each year, many wooden boats sent. Each year, squandered.
- Finally, your flood comes, but its another decade or two off in the distance. The islanders watch it from their incredible viewing site, laughing at the stupid mainlanders for still sending them these wooden boats they just keep consuming at insane rates.
- Some day in the future, the flood reaches the island. The islanders plea for wooden boats to get the F off the island they never should have been on in the first place, the island they were told would flood (and they themselves knew all along), the island they were given decades of wooden boats to get off of yet they squandered.
- The flood comes and wipes out all the islanders. The mainlanders shrug and say, I told you so.
Now your analogy is pretty accurate. What you're telling me is, as a mainlander, I should keep sending my wood, the wood I actually need myself, to the boat shop, so wooden boats can be made to get the islanders off, but for the last 3 decades, each year when we send the gaggle of boats, they have a party, break them up, and burn them up on stupid island shit rather than getting the F off the island like they're supposed to.
Scratch that, you're actually telling me, send more wood than in past years, because if more wooden boats arrive, this year, somehow, it'll be different from the last 30. This year they'll actually get on the wooden boat and come back to the mainland, so as to avoid the flood.
Exactly what indications have you seen that any of the islander Leadership actually has taken steps to start building their own boats, a sign that they do intend to finally get off the island? Because from what I've seen, they've got fires going all over the island, burning wood like a mofo, not giving one F that your flood is coming.
I await your 'sane' answer... :whiste:
Chuck
Yep, the Ownership society came around here last week forcing everyone to max out their credit cards and take out loans. I didn't answer the door.
Is there anything you won't blame on the rich and Reagonomics?
Same time next week doc?
The economy doesn't care what my motivations are for asking the question.
Of course I accept that deficits are a real problem, that's why I want to cut spending drastically. Getting $70 billion more out of raising tax rates on the "wealthy" is a band aid and we know it won't stimulate growth in the economy. That is if we use it to pay down the deficit instead of "redistribute" like libs like to do to stimulate economies.
Our focus should be 100% on what will grow the economy where people can get off of assistance and we cut the $1 trillion we spent on means tested welfare programs last year organically. Since raising taxes can't help the economy we probably shouldn't do it.
People respond to leadership on an emotional level. Incompetent leadership yields irrational responses & poor results.
History is shot through with it.
Really you guys on the left sure know how to play the blame game.
Nice video. It just further illustrates how government was part of the issue doesn't it? Go on admit it this was a government created fiasco. However being that your so blinded by your own political ideologue you refuse to see that your own "team" was also knee deep in this mess as well. So lets not ignore Democrats flat out refusing to acknowledge the real structural issue behind Freddie and Fannie Mae and governments role in the whole ordeal.
http://www.youtube.com/watch?v=CTbIb75JdwY
http://spectator.org/archives/2012/07/27/and-you-thought-the-housing-cr
Don't argue. Regardless who who promotes it or any results, hardcore libs will always oppose anything like the "Ownership Society" because the principles behind the concept push towards personal, private power and responsibility... something liberals are hardwired to fear and loath. Anything that attempts to empower people and not government will be rejected as dangerous.
Private debt had climbed drastically in the 40 years before Bush, but yeah, let's blame the ownership society.
2007 Budget was $2.8 Trillion with $2.6 Trillion in Revenue
2011 we spent $3.83 Trillion with $2.5 Trillion in Revenue
*EDIT - We have a small revenue problem but a massive spending problem.
I'll give it to you, you're original. Nuts too.-rambling lunacy-
And Obama is set to double it again.The debt rose by $500B in FY2007, $1T in FY2008, and $1.9T in FY2009. The debt doubled over the course of the Bush presidency.
Which policies are those?Now that we're living the aftermath of the greatest Repub policy induced credit bubble ever, when the need for govt spending is the greatest, Righties want to make it worse with tight fisted hard money policy benefiting only the wealthiest among us.
Don't argue. Regardless who who promotes it or any results, hardcore libs will always oppose anything like the "Ownership Society" because the principles behind the concept push towards personal, private power and responsibility... something liberals are hardwired to fear and loath. Anything that attempts to empower people and not government will be rejected as dangerous.
Private debt had climbed drastically in the 40 years before Bush, but yeah, let's blame the ownership society.