John from Riverside Posted August 17, 2023 Posted August 17, 2023 Is this a bad time to point out that Trump spent more money and put more on the deficit? 1 1 1
Tommy Callahan Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 11:25 AM, John from Riverside said: Is this a bad time to point out that Trump spent more money and put more on the deficit? Expand you talking about when the dems had the house? Did you send any of the stimy back? any of them unemployment bonuses? 1
John from Riverside Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 12:44 PM, Chris farley said: you talking about when the dems had the house? Did you send any of the stimy back? any of them unemployment bonuses? Expand This is a pretty simpleton way of looking at this Your average American could use that money that was sent those stimulus checks. The problem is people receive money that didn’t really need it.
Tommy Callahan Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 12:46 PM, John from Riverside said: This is a pretty simpleton way of looking at this Your average American could use that money that was sent those stimulus checks. The problem is people receive money that didn’t really need it. Expand trying to argue that the covid spending was trump, and trump alone is very simple and wrong. revisionist history. 1
John from Riverside Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 12:48 PM, Chris farley said: trying to argue that the covid spending was trump, and trump alone is very simple and wrong. revisionist history. Expand Simply pointing out that the spending was done under his term The numbers don’t lie
Tommy Callahan Posted August 17, 2023 Posted August 17, 2023 (edited) just pointing out it was much more complicated that one man. Edited August 31, 2023 by Chris farley
BillsFanNC Posted August 17, 2023 Posted August 17, 2023 With all this reduction of the debt that dementia Joe is constantly claiming... it's curious why there is simultaneously a need to increase the debt ceiling? 1
SoCal Deek Posted August 17, 2023 Posted August 17, 2023 Of the things the Biden Administration has done this one is a real head scratcher to me. There’s no way in hell you’re going to convince average Americans that inflation isn’t a significant issue in their daily lives. They see it and feel it virtually every day. The Administration would be far better off not talking bout it at all, just as they’ve chosen to do with so many other topics in the last almost three years. 1 2
The Frankish Reich Posted August 17, 2023 Posted August 17, 2023 On 8/18/2022 at 3:57 PM, Steve O said: So one of the big things in the inflation reduction act is increasing the size of the IRS to try to reclaim missed taxes. Wouldn't it make more sense to implement a consumption tax and decrease the size of the IRS? Avoid all those federal salaries and health care policies. This would tax those that have income from alternative means, no loopholes for the rich. Japan has had a consumption tax for over 30 years, a lot of growing pains could be avoided studying that history. Expand The last (semi) serious attempt to actually rethink how the USA raises tax revenue was Herman Cain's 9-9-9 thing. It wouldn't have worked as he proposed it, but at least it showed some outside the box thinking. Good luck finding that anywhere in the 14 presidential candidates for 2024. 1 1
SoCal Deek Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 1:23 PM, The Frankish Reich said: The last (semi) serious attempt to actually rethink how the USA raises tax revenue was Herman Cain's 9-9-9 thing. It wouldn't have worked as he proposed it, but at least it showed some outside the box thinking. Good luck finding that anywhere in the 14 presidential candidates for 2024. Expand I believe Vivek promotes a completely flat tax on all income of every kind, for everyone. 2
TSOL Posted August 17, 2023 Posted August 17, 2023 Warren Buffett is bracing for a stock market crash. IRA is a bad bill 1
The Frankish Reich Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 1:25 PM, SoCal Deek said: I believe Vivek promotes a completely flat tax on all income of every kind, for everyone. Expand I'll have to look at that. Thanks for pointing that out. In general, "flat tax" sounds good, but the devil is in the details. How do you compute income for that flat rate? It becomes very complex, and you sometimes wind up with something just as cumbersome as the current tax code. That's why consumption taxes are generally preferable.
SectionC3 Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 12:48 PM, Chris farley said: trying to argue that the covid spending was trump, and trump alone is very simple and wrong. revisionist history. Expand He signed off on it. And, he blew the Senate for Republicans by supporting the more than tripling the individual COVID relief checks. Blame doesn’t lie solely with Trump for whatever grievance might have with COVID spending. But the fact remains that this guy is responsible for cutting the top tax rate while at the same time spending like a drunken sailor. If that’s your definition of fiscal conservatism, then you must be MAGA.
The Frankish Reich Posted August 17, 2023 Posted August 17, 2023 I just saw this Doug Burgum/Governor of North Dakota/Republican candidate guy. He's making the right kind of noises about tax policy, so maybe there's hope that at least someone will get a debate going.
Precision Posted August 17, 2023 Posted August 17, 2023 The Inflation Reduction Act should have been called the Renewable Energy Subsidy Act. The largest component of spending in the act is targeted toward renewables and climate change initiatives. Anyone with the means who is a homeowner should consider taking advantage of the "free money" being thrown around in this act. In our case we received quotes for solar that with the government rebate will eliminate our $350+/month electric bill with a payback of 6-7 years. We are getting quotes for geothermal (ground source heat pump) and considering replacing our 10-year-old pool air source heat pump so that we fully utilize these incentives while they are available. Personally, I think the act was a poorly named and thought-out way to promote renewables. The incentives will largely be utilized by middle to upper income homeowners in suburban or rural settings. These incentives do nothing for renters, urban homeowners or homeless. It really highlights the stupidity of blue state representatives as in general their constituents benefit the least from this spending. 1
SoCal Deek Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 1:29 PM, The Frankish Reich said: I'll have to look at that. Thanks for pointing that out. In general, "flat tax" sounds good, but the devil is in the details. How do you compute income for that flat rate? It becomes very complex, and you sometimes wind up with something just as cumbersome as the current tax code. That's why consumption taxes are generally preferable. Expand I’m not in favor of a consumption tax. The wealthy don’t ‘consume’ anywhere near the same percentage of their income as the poor do. I see no problem with a flat tax. If the IRS can calculate all the nonsense embedded in our current tax code, administrating a truly flat tax would be a walk in the park. 1
The Frankish Reich Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 1:57 PM, SoCal Deek said: If the IRS can calculate all the nonsense embedded in our current tax code, administrating a truly flat tax would be a walk in the park Expand I'm not so sure. Understand that I am using this as an example, not a political point: Trump's taxes. What "income" counts? Those years he didn't pay income taxes, did he have "income?" It's still a mess. Meanwhile, he consumed. A lot. A VAT is often regressive, but there are ways to at least partly ameliorate that through grants, etc.
BillsFanNC Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 1:23 PM, SoCal Deek said: Of the things the Biden Administration has done this one is a real head scratcher to me. There’s no way in hell you’re going to convince average Americans that inflation isn’t a significant issue in their daily lives. They see it and feel it virtually every day. The Administration would be far better off not talking bout it at all, just as they’ve chosen to do with so many other topics in the last almost three years. Expand Not only are they talking about it... They've branded it as their own. Bidenomics. Brilliant! 2
SoCal Deek Posted August 17, 2023 Posted August 17, 2023 On 8/17/2023 at 2:03 PM, The Frankish Reich said: I'm not so sure. Understand that I am using this as an example, not a political point: Trump's taxes. What "income" counts? Those years he didn't pay income taxes, did he have "income?" It's still a mess. Meanwhile, he consumed. A lot. A VAT is often regressive, but there are ways to at least partly ameliorate that through grants, etc. Expand Thanks Frank No politics from me here either. As a traditionally high earner, I can tell you that a consumption tax would be an unnecessary benefit to me and my family. Regardless of the details, we already know that the government is able to tax ‘income’. They do now. The change would be that ALL types of income would taxed at the same rate, and there wouldn’t be any write offs. Your tax form would be extremely short. But…now EVERYONE would have skin in the game and everyone would push back (or not) on tax increases. 1
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