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More taxes is not the answer we will just spend it, or if you think more taxes are the answer how much more?
we are rocking along like 17 trillion is nothing yet it is eating more and more of our gdp through maintain interest payments?
Are there any answers or are we headed one day in to default?
The only answer I see is for the economy to expand and grow at rates we have not seen in years while we do real cuts to more than defense
I know what I'd do if I were your military complex; I'd confiscate that can that keeps getting kicked down the road, analyze the molecular make-up of that sucker and start building tanks and ships out of that, as it's proven to be completely indestructible.
We'll be over $20 trillion in the hole by the end of Obama's second term, but does that number actually mean anything to people? Do we not care? Is the fact that today we spend as much on interest as we do on food and agriculture, transportation and education COMBINED? $250 billion of what the US collects this year will be wasted on interest payments.
By the next Presidential election, our annual interest payment will be around $400 billion. But I think people just don't care as long as the government keeps humming along, keeps making promises they can't keep and we dig ourselves deeper and deeper into a hole.
Oh, I can't wait for the uneducated armchair economists to regale us with their wisdom of the national debt.
Are you an educated economist ? What is your solution to the problem ? It's more like 200 Trillion when you figure in promised entitlements according to the CBO.
Production - Regulations hinder production right now. They should protect the consumer with a small impact on production. Lower minimum wages to allow business to hire more people. Increasing production should be main goal.
Taxes - Everyone over 20 pays 10% on income generated. Maybe also a poverty rate of 3%-5%. No behavior based tax credits (mortgage interest, charity, green energy use, etc). Defangs IRS and remove a bunch of their personnel - which saves money, and put those people into the private marketplace where they can be productive.
Spending - Obviously needs to be cut everywhere since they are out of control. Basically the people need to get with it and put people into office who have the heart to cut spending and balance the books.
That's off the top of my head... obviously highly unlikely to occur.
Production - Regulations hinder production right now. They should protect the consumer with a small impact on production. Lower minimum wages to allow business to hire more people. Increasing production should be main goal.
Name one single regulation you would end, and tell us by how much production would increase by ending it. Every civilized country in the world has a minimum wage; that's not going down and it's not going away.
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Taxes - Everyone over 20 pays 10% on income generated. Maybe also a poverty rate of 3%-5%. No behavior based tax credits (mortgage interest, charity, green energy use, etc). Defangs IRS and remove a bunch of their personnel - which saves money, and put those people into the private marketplace where they can be productive
1996 called. They want their stupid tax proposal back. This is a regressive tax structure. That's what we have now (this is even more regressive), and it's one reason why the income inequality in this country is getting worse everyday.
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Spending - Obviously needs to be cut everywhere since they are out of control. Basically the people need to get with it and put people into office who have the heart to cut spending and balance the books.
Oh, the old refrain of "cut spending," "it's out of control!" without listing a single thing you would cut. You will not make a dent unless you cut social security, medicare, and/or defense. So which of those will you cut, and what is your solution to the backlash that will ensue? How many old people's benefits would you like to eliminate?
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That's off the top of my head... obviously highly unlikely to occur.
Right, highly unlikely, because all you did was spew GOP talking points from the past ten years. (Actually like 20 years with that ridiculous Steve Forbes flat tax proposal.)
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