Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The regulatory burden continues to increase. Over 180 new major federal regulations have been imposed on business operations since early 2009 with estimated annual costs of nearly $80 billion. Labor regulations are not rigid, but other government policies, such as excessive occupational licensing, restrict growth in employment opportunities. Damaging monetary policies, tangled webs of corporate welfare, and various subsidies have bred economic distortions.
It was all paid for. The borrowing requirement is not the fault of S.S. Social Security is a cash cow that the Fed is milking and spending. The $2.9 trillion in the Trust Fund is as real as your money in your bank. Do you think your bank has your money in all cash waiting for you?
"is not the fault of S.S.'
Did I claim it WAS?
" The $2.9 trillion in the Trust Fund is as real as your money in your bank."
It is NOT.
It is NOT ACTUAL CASH.
It is special "T" bills which are IOU,s
The SSA and NO OTHER agency has NO MONEY ON HAND.
The agencies write "checks" and the Treasury Dept pays them.
Like ALL Agencies they have a "budget" that is given to them by the Treasury Dept.
When SS needs money, because they are paying out MORE then they are taking in, they contact the Treasury and ask for X amount.
The Treasury "cashes in" some "T" bills, mostly by BORROWING the money from places like China, and wires the money to the SSA which is whywhen you look at a ie chart of the U.S. Gov't SPENDING and debt , you see SSA listed as a HUGE deficit.
At SOME point the U.S. Treasury will NOT have the cash NOR the credit to borrow.
We are VERY close to spending MORE then our GDP can support.
Everything that happens in the economy happens because of LAWS. And we reap the results of those laws.
Those laws have produced a population, half of which needs public assistance of some sort. And now some of you want to deal with this by cutting services to those who need it most. How about paying for what we need by cutting real waste and by taxing those who can afford it most at a reasonable level once again?!!!!
"Tax and spend"? YES! We are not taxing (enough) and we are not spending (enough) where it is most beneficial.
""Tax and spend"? YES! We are not taxing (enough) and we are not spending (enough) where it is most beneficial'
Wrong!
" And now some of you want to deal with this by cutting services to those who need it most"
WRONG, AGAIN.
We do NOT want cut from those that ACTUALLY need it but, we DO want ALL waste, fraud and abuse stopped as much as possible.
I working in Fed. gov't housing projects and I a can tell you about the waste, fraud and abuse.
I also worked for Uncle Sam in BOTH a civilian Agency and the DoD,The federal govt is wrought with waste fraud and abuse throughout EVERY AGENCY and Dept.
I told you: it "stops" at the tax rate we had when Reagan took office.
You're not making sense nor a point here. It's just personal anecdote.
Communism is dead. There are no communists in this country other than a few fringe whacko CPUSA nutjobs. I say this and I favor socialism. But you are talking personal anecdotes and trying to give them weight.
Ya, whatever.
If you are homeless, keep posting. I'm getting some clues here.
"]I told you: it "stops" at the tax rate we had when Reagan took office."
Are YOU willing to bring back the SAME tax deductions etc.?
As usual some like to cherry pick which is ALWAYS a bad thing.
The DON'"t want to look at the WHOLE picture, just the parts they like.
Correct. They owe S.S. the money because S.S. paid for the bonds with real money.
True.... because they "borrowed" it. It is owed just like money is owed to anyone who holds a Treasury bill, bond, or note.
Now let me break that down for you. That is not the fault of S.S. The bonds were paid for just as bonds purchased by anyone who has bought Treasuries paid for theirs. And the money is owed just as it is for millions of Americans who own Treasuries, and pension funds, and foreign investors, and everyone else. They are still considered to be the safest investment we have. But the point is that S.S. paid for theirs in the Trust Fund. And the question is "what do you want to do about that?" Do you deny your debts? Do you stiff those you owe? Government owes S.S. what is theirs.
Since S.S. Trust Fund is worth $2.9 trillion, your math doesn't add up. But just think: when banks were facing failure if you and everyone had just said "ah heck, just cut what you owe me, ... cancel it. I don't want it" the banks would have recovered much more easily. But your numbers are incorrect as you will see in a moment...
I think you meant "billion". . . . but wait! . . .
Not true. Wrong, -as you will see....
The 2015 deficit was $438 billion. The 2016 deficit is estimated to total $616 billion. So your point, whatever it was, is moot. And your condescending attitude is inappropriate. I worked as a financial planner though I am now retired.
Sorry to burst your bubble.
"Now let me break that down for you. That is not the fault of S.S."
Way too much spending on defense. But I suppose people in high places need their salary. Just imagine how many people and companies benefit from our huge defense budget.
"Way too much spending on defense"
We have tried being isolationist in the past when the world was much "bigger and wat did that get us?
The world is getting "smaller all the time.
Have you done an audit on defense?
By your post I would imagine that you do NOT know that defense spending under Obama has gone WAY down.
In fact we are in WORSE shape NOW then where we were before WWII.
"Just imagine how many people and companies benefit from our huge defense budget"
And imagine how much these people and companies pay in taxes.
let's follow your suggestion and cut the military in half.
ALL those people both in the military and gov't support subcontractors are NOW out of work.
How much in taxes will NOT be coming in to the treasury?
How much in unemployment will be paid OUT to these now unemployed people?
How much in food stamps will be paid out?
How many OTHER business will go OUT OF BUSINESS because they rely on the military in their area for customers?
Add those into the equation and it will COST a LOT.
Not as much as we spend but, surely it will have big negative affect.
Some just like to spout of WITHOUT thinking the ENTIRE process through.
How about changing the corporate tax structure so companies like Apple can't park billions overseas in countries like Ireland? Lower the corporate tax rate and make it illegal for foreign entities of US companies to pay foreign taxes. The billions you get back will be more than jumping the income rate 2-3%.
I'm in favor of less Federal and more State taxes. Its not an efficient way of doing things. I am pro/former military and I think the DOD budget could be cut 10-15% there is a ton of fat in the military.
While fuel is so cheap now, add a gas tax to cover road maintenance and infrastructure.
"How about changing the corporate tax structure so companies like Apple can't park billions overseas in countries like Ireland? Lower the corporate tax rate and make it illegal for foreign entities of US companies to pay foreign taxes. The billions you get back will be more than jumping the income rate 2-3%.'
Agree
" and I think the DOD budget could be cut 10-15%"
Under Obama that has already happened.
"there is a ton of fat in the military."
Agreed
"While fuel is so cheap now, add a gas tax to cover road maintenance and infrastructure."
The problem is the fed NEVER REDUCES the taxes when prices go back up.
BEFORE we give MORE money for infrastructure, I want it defined.
I want an AUDIT to find out WHY we need MORE money for maintenance.
Where did ALL the money go?
I just finished a cross country trip and back and saw LOTS of NEW Federal Interstates being built and widened.
Why do we always seem to have money for NEW roads but, never for maintaining what we already have?
Yes fish. When questioned on why the defense industry's contracts for out-of-date and useless hardware continues year after year, the government has said that they "must keep the industry busy and healthy (profiting) so that when important new hardware is needed, the industry will be ready to jump into action and produce quickly... -no need to hire, tool up, plan, and prepare."
Bunk. That wasn't a problem at any time prior to defense industry waste. The truth is that the industry is a big contributor to campaigns and is a heavy lobbying power.
"When questioned on why the defense industry's contracts for out-of-date and useless hardware continues year after year, the government has said that they "must keep the industry busy and healthy (profiting) so that when important new hardware is needed, the industry will be ready to jump into action and produce quickly... -no need to hire, tool up, plan, and prepare."
I have never heard that.
Do you have a source?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
