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KWSN - MajorKong Send message Joined: 5 Jan 00 Posts: 2892 Credit: 1,499,890 RAC: 0 |
And apparently you can't see that with increased economic activity, tax revenue rises. There is a difference between State debt and State budget deficits. Yes, Texas has a sizable State debt, but it is BONDS (as you say, they have to be paid back). We can not deficit spend, per our State Constitution. We DO have a multi-billion dollar State budget surplus, WITHOUT a State Income Tax. All this, and we STILL have an economic growth that is about 0.5% higher than the national average (3.2% vs 2.7%)... Maybe the other States, and the Federal Government should all try doing things OUR way for a while. Maybe that way, at the very least the flood of Yankees coming down here looking for jobs might go away. The Yankees have ruined all the good Mexican Restaurants down here. They no longer serve any hot sauces worthy of the word 'hot'... Afraid the wimpy Yankees might sue them. https://youtu.be/iY57ErBkFFE #Texit Don't blame me, I voted for Johnson(L) in 2016. Truth is dangerous... especially when it challenges those in power. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
And apparently you can't see that with increased economic activity, tax revenue rises. When you cut taxes you increase inflation because more has to be borrowed driving up interest rates and making the dollar worthless. That more than eats up any increase in economic activity. After the first year Reagan saw what a terrible failure it was, he signed the largest tax increase in history (1982) to undo the damage, but the Republican MIC grabbed the money and wasted it on the Pentagon. Now as to jobs, those things that produce tax revenue, no company is ever going to hire an American. It's over. All production is overseas or done by robot. Americans have already made the last thing. Americans cost too damn much to employ. What's the minimum wage today, $7.25/hr.? A worker in the third world costs $0.05/hr or about 150 times less! Since the big markup happens in the foreign country, no US tax revenue. The oligarch gets ever fatter off your tax cut. And we haven't even begun to talk about being able to run your plant like Union Carbide in Bhopal. And speaking of those overseas laborers, now they have money, they are the new customers for the oligarch. And none of that money ever is in America, so it can't be taxed. Taxing and spending has been tried again and again. And every time it's tried, it doesn't work. How about taxing and that third word of my post you can't seem to read or allow into your brain. That hasn't been tried in a long time. Tell me how that doesn't work. |
betreger Send message Joined: 29 Jun 99 Posts: 11361 Credit: 29,581,041 RAC: 66 |
...no company is ever going to hire an American. It's over. All production is overseas or done by robot. Americans have already made the last thing. Guy, no the pitchforks will come out and it won't be pretty. |
KWSN - MajorKong Send message Joined: 5 Jan 00 Posts: 2892 Credit: 1,499,890 RAC: 0 |
And apparently you can't see that with increased economic activity, tax revenue rises. OR... you could just cut Government Spending. Stop the borrowing/deficit spending. After the first year Reagan saw what a terrible failure it was, he signed the largest tax increase in history (1982) to undo the damage, but the Republican MIC grabbed the money and wasted it on the Pentagon. Thats the truth. Put the blame where it is due. Labor Unions (they collectively bargained their members out of their jobs) and Tax&Spend Government pukes (passed all sorts of overly-controlling regulations). https://youtu.be/iY57ErBkFFE #Texit Don't blame me, I voted for Johnson(L) in 2016. Truth is dangerous... especially when it challenges those in power. |
W-K 666 Send message Joined: 18 May 99 Posts: 19072 Credit: 40,757,560 RAC: 67 |
And apparently you can't see that with increased economic activity, tax revenue rises. As most of it goes on health and benefits, what do you propose? Drastically reducing the populations of those States that take more Federal Funds than they put in. That would be MI, NM, AL, LA, TN, MT, SD, KY, VW and a few more. All good hard core Republican states. That would be a good way to keep the GOP in power. Not. After the first year Reagan saw what a terrible failure it was, he signed the largest tax increase in history (1982) to undo the damage, but the Republican MIC grabbed the money and wasted it on the Pentagon. It's automation that has cost jobs in manufacturing, down from nearly 20 million in late 1970's to under 12 million now. BUT manufacturing output has gone up in value from $800 billion to over $16 Billion. It may be true that union actions caused manufacturing industries to look at ways to be still competitive, but that would probably happened anyway. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
And apparently you can't see that with increased economic activity, tax revenue rises. The largest piece of the pie* is the Pentagon & VA. Cut to zero. Now we might not have to raise taxes to stop the deficit. All the rest of the slices together don't match this one, so have your reality check. *Discretionary spending. |
Es99 Send message Joined: 23 Aug 05 Posts: 10874 Credit: 350,402 RAC: 0 |
Gary you didn't mention the proposed tax cuts coupled with the proposed infrastructure spending. The increased supply of money will exacerbate the inflation cycle you describe. The inflation will reduce real income. Those who hold physical assets will see their values hold. Hence the oligarchs get a relative gain. That is all they want . Read Thorstein Veblen. https://en.wikipedia.org/wiki/The_Theory_of_the_Leisure_Class No. Those who caused the current problems are being appointed to his cabinet. Reality Internet Personality |
KWSN - MajorKong Send message Joined: 5 Jan 00 Posts: 2892 Credit: 1,499,890 RAC: 0 |
And apparently you can't see that with increased economic activity, tax revenue rises. You still don't get it, Gary... Eliminate 'entitlements', AND cut 'discretionary spending' by at LEAST 50%. Must be the air there in the People's Republic of California affecting your mind, between all the Cannabis pollen and the methane emissions... <wink> If California (or any other State) wishes to have 'entitlements', let them pay for it with their own State Taxes. https://youtu.be/iY57ErBkFFE #Texit Don't blame me, I voted for Johnson(L) in 2016. Truth is dangerous... especially when it challenges those in power. |
Es99 Send message Joined: 23 Aug 05 Posts: 10874 Credit: 350,402 RAC: 0 |
And apparently you can't see that with increased economic activity, tax revenue rises. I am sure California would be happy to stop subsidising states like Texas. Reality Internet Personality |
W-K 666 Send message Joined: 18 May 99 Posts: 19072 Credit: 40,757,560 RAC: 67 |
Re my earlier post about reducing the populations of States that take the most out of the Federal budget. It looks like it has already started. http://www.wvgazettemail.com/news-health/20161217/drug-firms-poured-780m-painkillers-into-wv-amid-rise-of-overdoses |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
You still don't get it, Gary... Eliminate 'entitlements', AND cut 'discretionary spending' by at LEAST 50%. Must be the air there in the People's Republic of California affecting your mind, between all the Cannabis pollen and the methane emissions... <wink> Pentagon isn't quite 50% of the discretionary budget, so it is gone*. Or did you want to cut out the FBI, NSA, CIA, TSA, FAA, SS, OCC, IRS, DOT, NPS, USFS, ..... the other 50% of the discretionary budget? Now we get rid of Social Security and Medicare a/k/a the entitlements**. Can you post your address so we can send the pitchforks in your direction? Or do you need to take a hard look at what the budget is before you make comments on what can be cut? *Interest on the debt is in the discretionary budget, but somehow I don't think that can be cut, feel free to explain how we default on bonds if you disagree. **Were you under the post-truth impression that "welfare" makes up the bulk of entitlements? |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
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Es99 Send message Joined: 23 Aug 05 Posts: 10874 Credit: 350,402 RAC: 0 |
Well it's been confirmed. Shall we take bets on how long he lasts before he's impeached? Reality Internet Personality |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
Well it's been confirmed. 8 months is my bet :-) |
Es99 Send message Joined: 23 Aug 05 Posts: 10874 Credit: 350,402 RAC: 0 |
Well it's been confirmed. It'll be around the time the Republicans realise they can't control him. Reality Internet Personality |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
Well it's been confirmed. Hmm, wonder if the charge will be real or a "Trumped" up one :-) |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
& from 20/1/17 the RotW will have fun watching the USA implode without ANY external influences. Over 300,000,000 & that was the best you could come up with Frillary & Drumpf? |
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