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Are those figures adjusted for inflation and population growth?
Both Medicare and SSA have dedicated taxes. The fact that they have increased spending is a function of baby-boomers retiring not out of control spending.
What is the source of your data?
Defense spending likely increased because Obama put the wars on-budget instead of leaving them out of the budget. According to the DoD, the defense budget is $685B, up 3%.
to bring us back to the clinton era spending..you need to CUT, and CUT drasticly
from 2008 to present
defense spending has increased 16%....... 593b to 673b
medicare spending has increase 29%....... 386b to 498b
medicaid spending has increased 44%..... 201b to 299b.....medicare/ciad makes up nearly 800 billion of our spending and is INCREASED big time each year
ss spending has increased 17% ........ 612B to 719b
Taxes are the lowest they have been since the 1960's.
I'll fix that for you
FEDERAL INCOME taxes are the lowest they have been since the 60's
but STATE income taxes are UP
local property taxes are UP
state and local sales taxes are UP
gas taxes (federal and state) is UP
federal payroll taxes are UP
corporate taxes are UP
cig/alchol taxes are UP
and hundreads of other taxes that didnt even exist in the 60's
so to do the arguement of "oh taxes were higher in the 50's or 60's" is just spin
fact si that most people earning under 35k pay ZERO in federal income tax
I myself earn 60k and pay ZERO in federal income or payroll taxes...but get killed by NY and my county/town in taxes
FEDERAL INCOME taxes are the lowest they have been since the 60's
but STATE income taxes are UP
local property taxes are UP
state and local sales taxes are UP
gas taxes (federal and state) is UP
federal payroll taxes are UP
corporate taxes are UP
cig/alchol taxes are UP
and hundreads of other taxes that didnt even exist in the 60's
so to do the arguement of "oh taxes were higher in the 50's or 60's" is just spin
No, it's a combined total of all taxes at every level. We are paying the least amount of taxes since the 60's.
The truth is we need to attack our debt every way. Cut spending, raise more revenues, economic growth, and entitlement reform. Simply cutting our budget won't work.
No, it's a combined total of all taxes at every level. We are paying the least amount of taxes since the 60's.
The truth is we need to attack our debt every way. Cut spending, raise more revenues, economic growth, and entitlement reform. Simply cutting our budget won't work.
Quote:
We are paying the least amount of taxes since the 60's
no we are getting killed by taxes
I make 3 times what my father made and am having a harder time treading water...why because of taxes and cost of essentials
heck..my electric bill is over 300 a month itself, not to mention the 300+ dollars a month for oil..nor to mention that water and garbage costs just went up
not to mention my school tax just increased by 6%
I make 60k and my property taxes are 12k...that's over 20% of my PRE-tax earnings right there
Taxes are the lowest they have been since the 1960's.
If we have money to spend on a bureaucracy devoted to killing jobs at the behest of the unions as the NLRB is doing in South Carolina, money to spend on buying roadworthy cars in order to crush them, money to spend on an EPA that is committed to rocketing up our utility bills, money to hire people to thwart every employer in the country...
the federal reserve, under bernanke and obama leadership, have done a lot of damage to not only our country-but to world economies. i cannot emphasize that enough.
the unintended consequences of his actions (or intended, who knows) will be felt worldwide.
in a follow up, he was certainly right about that:
Andy Xie follows up on his earlier Op-Ed that describes how the Fed is implicitly funding the stimulus in places like China. In a simplified version of the article, he talks to Bloomberg's Betty Liu, recapping the key issues."When the Fed prints money it is just creating inflation in emerging economies. But when the inflation in the EM gets high enough, it will bounce back, it will become inflation in the US." As to why EM countries would be unable to manage their inflation, Xie says that most emerging economies are focused more on holding down their currencies, as they see "global demand as relatively weak", seeking more than anything to keep their exports competitive. "That force is allowing them to allow all the money to come in and become inflation." And unfortunately Andy does not think unemployment is going lower any time soon, attacking the very core of the Fed's dual mandate: "I don't think high unemployment is a panacea for keeping inflation down."
bingo! we have inflation and high unemployment here now.
Well then, why is Bernake given so much sway and power???? Is it because there is no one else in the circle who can come up with anything better???
I mean, flooding the market with money is going to pick things up for a time........but, when that "raw sugar" decreases or goes away....and inflation spikes......wow, it is going to get a lot worse. Unemployment and inflation are a monster that will get spell very bad time for this once great country.
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