Obama Sends $3.7 Trillion Budget to Congress

[Ducimus]

So if understanding the tax cuts correctly, the average American foots the bill while the gilded elite get off scott free?

edit:
Yeah i know everyone supposed to get some tax break, but porportionally, if you do the percentages, the average joe saves SQUAT. The gilded elite save millions.

edit:
I'll just leave this here:

[Gerald]

Originally Posted by Ducimus

So if understanding the tax cuts correctly, the average American foots the bill while the gilded elite get off scott free?

edit:
Yeah i know everyone supposed to get some tax break, but porportionally, if you do the percentages, the average joe saves SQUAT. The gilded elite save millions.

edit:
I'll just leave this here:

What is the optimal solution to the problems, I'm not for any tax increases, but if you play with the idea that to decide what to do,

[gimpy117]

well under Sen. Ryan's "road map" tax plan, the Average tax for the middle class would actually go up by $900, while the top percent save hundreds of thousands to millions. The poorest only see a reduction of 174 dollars on average.


http://www.cbpp.org/cms/index.cfm?fa=view&id=3114

[Gerald]

And how many will be unemployed when....

[Ducimus]

Originally Posted by gimpy117

well under Sen. Ryan's "road map" tax plan, the Average tax for the middle class would actually go up by $900, while the top percent save hundreds of thousands to millions. The poorest only see a reduction of 174 dollars on average.


http://www.cbpp.org/cms/index.cfm?fa=view&id=3114

plutocracy
plu·toc·ra·cy
[ploo-tok-ruh-see]

–noun, plural -cies.
1. the rule or power of wealth or of the wealthy.
2. a government or state in which the wealthy class rules.
3. a class or group ruling, or exercising power or influence, by virtue of its wealth.

[August]

Well how DARE those evil Republicans say the Democrats are spending too much money.

[Sailor Steve]

Originally Posted by gimpy117

well under Sen. Ryan's "road map" tax plan, the Average tax for the middle class would actually go up by $900, while the top percent save hundreds of thousands to millions. The poorest only see a reduction of 174 dollars on average.

"The poorest" don't pay any taxes, at least not income taxes. Trust me on this.

[gimpy117]

Originally Posted by Sailor Steve

"The poorest" don't pay any taxes, at least not income taxes. Trust me on this.

ohhh but we do Steve. money is taken out of my paycheck, even though i make only 5k in the summer. I just have to file to get it back. But I would certianally love to not have 50 bucks taken out of every check. wanna send me some?

[August]

Originally Posted by gimpy117

...I just have to file to get it back

You're not paying anything if you get it back.

[gimpy117]

Originally Posted by August

You're not paying anything if you get it back.

the point is, I could use that money now...not this next year when i file those taxes. remember im a broke college student. besides, i don't get anything from SS or Medicare taxes those are paid into the system and gone forever.

[Platapus]

Originally Posted by August

You're not paying anything if you get it back.

Then I have a deal for you.

Please give me $100.00 per month from Jan to Dec. On December 31st, I will give you, in cash, $1,200.

Deal?

Why not, you are not losing any money if you get it all back right?

But not only do you lose the use of the money, you are, in effect, giving me a zero interest loan of $100 for 12 months, $100 for 11 months, 10 months.......

I will be investing $100.00 for 12 months, $100 for 11 months.... and I will end up with more than $1,200 by the end of the year.

So yes the poor may get back 100% of what they paid in taxes, but that is not the same as not paying taxes at all. The poor in this country are simply loaning the government money at zero percent interest.... money they may need to buy food or pay rent.

[Ducimus]

Originally Posted by gimpy117

ohhh but we do Steve. money is taken out of my paycheck,

Well, if you mean Poorest, as in, can't get any poorer, you have people who don't get a paycheck to begin with. They REALLY don't pay federal taxes.

[Sailor Steve]

Originally Posted by gimpy117

ohhh but we do Steve. money is taken out of my paycheck, even though i make only 5k in the summer. I just have to file to get it back. But I would certianally love to not have 50 bucks taken out of every check. wanna send me some?

My last temp job didn't take any taxes out. On the other hand I am against the Income Tax, period, so we definitely disagree.

[Platapus]

Originally Posted by Vendor

What is the optimal solution to the problems, I'm not for any tax increases, but if you play with the idea that to decide what to do,

My opinion?

First we have to recognize that it took our nation many decades to build up this deficit/debt. To expect a workable plan to get rid of it in a few years is sophistry. There is no way we can economically withstand any drastic plan to eliminate the deficit quickly. It may be a case where the cure is worse than the disease.

Any solution will have to be a multi-generational solution and honestly that ain't gonna happen in today's sound-byte political environment.. but we can dream.

First step should be to freeze government spending. All government spending. Yes that means the military too. This will drastically slow down the growth of our deficit. It will still grow due to interest/SS/Medicare but it is a first step (if you find yourself in a deficit, first stop spending more money).

Let this solution cook for a few years to see how it works and to let the economy adapt to this change. During this time limits on SS and medicare can be slowly grandfathered in so that the current old guys who were relying on it can get it, while the younger guys who still have time to set up their own programs can do so (clearly the devil will be in the details). But the objective has to be to ween the citizens away from the "old" SS and Medicare system as we simply can't afford it in its present state. I don't think the solution is to eliminate these programs, but they do need to change.... but slowly.

Then after a few years we can cut more to the extent that even counting interest our deficit ceases to grow. Let that solution cook for a few years for the economy to adapt.

Then, and only then can we start cutting programs to start reducing the deficit and as the years pass we can continue to adjust these programs under a balanced budget schema.

But we can't do it all at once. It took us decades to screw up, it will take decades to fix. But the first step needs to be to stop increasing the spending.

We also need to recognize that any corrective action will hurt. We need to spread the hurt. Yes that means that in some cases a person who did not do anything wrong will be paying for those who did. We have to suck it up for the betterment of our country.

But like I posted before, this is strictly a fantasy. We can't get politicians to give a crap about our country even within their term, no less multi-generational. Politicians simply don't care enough.

[Gerald]

Originally Posted by Platapus

My opinion?

First we have to recognize that it took our nation many decades to build up this deficit/debt. To expect a workable plan to get rid of it in a few years is sophistry. There is no way we can economically withstand any drastic plan to eliminate the deficit quickly. It may be a case where the cure is worse than the disease.

Any solution will have to be a multi-generational solution and honestly that ain't gonna happen in today's sound-byte political environment.. but we can dream.

First step should be to freeze government spending. All government spending. Yes that means the military too. This will drastically slow down the growth of our deficit. It will still grow due to interest/SS/Medicare but it is a first step (if you find yourself in a deficit, first stop spending more money).

Let this solution cook for a few years to see how it works and to let the economy adapt to this change. During this time limits on SS and medicare can be slowly grandfathered in so that the current old guys who were relying on it can get it, while the younger guys who still have time to set up their own programs can do so (clearly the devil will be in the details). But the objective has to be to ween the citizens away from the "old" SS and Medicare system as we simply can't afford it in its present state. I don't think the solution is to eliminate these programs, but they do need to change.... but slowly.

Then after a few years we can cut more to the extent that even counting interest our deficit ceases to grow. Let that solution cook for a few years for the economy to adapt.

Then, and only then can we start cutting programs to start reducing the deficit and as the years pass we can continue to adjust these programs under a balanced budget schema.

But we can't do it all at once. It took us decades to screw up, it will take decades to fix. But the first step needs to be to stop increasing the spending.

We also need to recognize that any corrective action will hurt. We need to spread the hurt. Yes that means that in some cases a person who did not do anything wrong will be paying for those who did. We have to suck it up for the betterment of our country.

But like I posted before, this is strictly a fantasy. We can't get politicians to give a crap about our country even within their term, no less multi-generational. Politicians simply don't care enough.

What areas do you think it should have first priority when it comes to saving money on