Obama Sends $3.7 Trillion Budget to Congress

[CaptainHaplo]

Simply put, allowing the deficit to grow at ALL is asking for a monetary collapse. The nations of the world are already agitating for a new base currency rather than the dollar. If that happens - and it will if our debt is allowed to continue to grow, then the dollar will collapse.

Platapus is right on one thing - when you spend more than you take in, you have to stop spending. So, right now we need to make THIS budget year (2011-2012) balance - interest payments all all. Sure its gonna suck, sure there will be cuts where we don't like it. But we can't sit by and say "well we are cutting back" while the debt continues to grow. Its like a stab wound victim, you can stop the bleeding, but you only choose to "slow it down".... is that really going to save his life? This is the country's fiscal life we are talking about. Slowing the bleeding isn't going to save it.

1 year to balance the budget. Then, the next year we start paying down the debt. Even if its only 100 Billion a year to start with (meaning at that rate your looking at 150 years to pay it all off) you start paying it back.

Now - I am going to be rather cold about this. Total Revenue in 2010 was 2.16 Trillion. We need to be spending no more than what we make. That means drastic cuts to a lot of things. Yes - even Defense. Yes, changes to the SS infrastructure will be needed. Changes across the board.

What needs to happen is the entire budget process needs to be changed. Its handled backwards right now. The politicians (on both sides) figure out what they want to spend, then forget about what they make.

Wan't to solve the budget issues? Limit the government spending to its total reciepts for the previous year.

[Ducimus]

One problem is the government isn't like you or me doing their personal budget. If you make X amount, you or I know that we cannot spend more then X amount. Preferbly X amount, ,minues Some money to put into savings for a rainy day.

To do this, you are I may pay just PL and PD on auto insurance, or subscribe to the lower end plan on cable (or do away with it entirely), watch electrical usage, use the AC less, etc etc.

But that's not how the government works, is it? It's all about special interest's, be it some hippy bleeding heart green group, or corporate megabucks and that upper elite i love to hate so much.

edit:

The "gilded elite" pay virtually ALL the bills.

BS. I don't see how that's possible since they've been busy offshoring their countryman's livelyhoods, automating what they can't, and using every loophole along the way to avoid taxes. Screw those "people".

[August]

Here's who pays what:

In 2002 the latest year of available data, the top 5 percent of taxpayers paid more than one-half (53.8 percent) of all individual income taxes, but reported roughly one-third (30.6 percent) of income.
The top 1 percent of taxpayers paid 33.7 percent of all individual income taxes in 2002. This group of taxpayers has paid more than 30 percent of individual income taxes since 1995. Moreover, since 1990 this group’s tax share has grown faster than their income share.
Taxpayers who rank in the top 50 percent of taxpayers by income pay virtually all individual income taxes. In all years since 1990, taxpayers in this group have paid over 94 percent of all individual income taxes. In 2000, 2001, and 2002, this group paid over 96 percent of the total.

http://usgovinfo.about.com/od/income...hopaysmost.htm

[gimpy117]

may I remind you, that the top one percent also has 33.8% percent of all the wealth...so i really don't think its all so bad then they pay 30% in 2002 like that article said. They can cry me a river...because when you are in the top 1% the amount of taxes taken from you when you make that amount of money has much less effect on you than somebody making $30,000 a year. The Bush Era was pretty darn good to these people, So im not so apt to feel bad when they bitch and moan about how much taxes they have as they fly around in their private jets.

[Armistead]

Originally Posted by August

Here's who pays what:




http://usgovinfo.about.com/od/income...hopaysmost.htm

You think the rich pay the bills, they do, but over the last 20 years due to corporate elitism, pandering to corporations, their profit ratio compared to anytime in past history have far exceeded the tax rates they pay.

Now 1% of people hold over 40% of all wealth, 20% hold 80% in america, compared to the 70's era where 60% of us held about 80% of all wealth.
When you create an elite class, they're the ones you go to for taxes...but they don't care as long as they can purchase congress and pass any regulation they want, they'll gladly pay more taxes for mass profit.

The rich don't care about taxes or the dollar, they invest in real assets that now have become out of reach for most americans.

The GOP sell elitism under a lie called capitalism. We could easily be heading for a two class system of 80% in poverty, the rest billionaires. Our children and grandchildren will live much differently than we.

You think the middle class don't pay taxes. Add your sales tax, property tax, gas tax, electric tax and all the small hidden taxes seemingly in every bill to your fed and state tax...most of us that make under 100K a year pay about 35% in total tax.

[August]

Originally Posted by Armistead

You think the rich pay the bills, they do, but over the last 20 years due to corporate elitism, pandering to corporations, their profit ratio compared to anytime in past history have far exceeded the tax rates they pay.

Now 1% of people hold over 40% of all wealth, 20% hold 80% in america, compared to the 70's era where 60% of us held about 80% of all wealth.
When you create an elite class, they're the ones you go to for taxes...but they don't care as long as they can purchase congress and pass any regulation they want, they'll gladly pay more taxes for mass profit.

The rich don't care about taxes or the dollar, they invest in real assets that now have become out of reach for most americans.

The GOP sell elitism under a lie called capitalism. We could easily be heading for a two class system of 80% in poverty, the rest billionaires. Our children and grandchildren will live much differently than we.

You think the middle class don't pay taxes. Add your sales tax, property tax, gas tax, electric tax and all the small hidden taxes seemingly in every bill to your fed and state tax...most of us that make under 100K a year pay about 35% in total tax.

All that stuff you just is nothing but partisan posturing. Hear me now and believe me later, these class warfare tactics are going to bite you Liberals in the butt one day, hard. I just hope you don't tear my country apart in the meantime.

[mookiemookie]

Originally Posted by August

All that stuff you just is nothing but partisan posturing.

No it's not. If you can disprove something he said, disprove it. But waving it off as "partisan posturing" is admitting that you can't.

And it's my country too. And his. Not just "yours."

[August]

Originally Posted by mookiemookie

No it's not. If you can disprove something he said, disprove it. But waving it off as "partisan posturing" is admitting that you can't.

I'm not admitting anything but I do note that you don't have anything to say about the class warfare flames you liberals keep fanning...

And it's my country too. And his. Not just "yours."

Well you just can't imagine how happy I am for you two...

[nikimcbee]

Originally Posted by August

All that stuff you just is nothing but partisan posturing. Hear me now and believe me later, these class warfare tactics are going to bite you Liberals in the butt one day, hard. I just hope you don't tear my country apart in the meantime.

Tax union benefits.

[Rockstar]

Originally Posted by CaptainHaplo

Simply put, allowing the deficit to grow at ALL is asking for a monetary collapse. The nations of the world are already agitating for a new base currency rather than the dollar. If that happens - and it will if our debt is allowed to continue to grow, then the dollar will collapse.

IMO this is an engineered attempt to control how fast the dollar is devalued. Doing it such away to avert a catastrophic disaster by a sudden drop in strength.

Me thinks a global currency is on the way