Stimulus bill bad? Try $1Trillion deficit each year - DFWstangs Forums
 
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post #1 of 16 (permalink) Old 03-20-2009, 07:57 PM Thread Starter
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Stimulus bill bad? Try $1Trillion deficit each year

Quote:
WASHINGTON (AP) — President Obama's budget would generate unsustainably large deficits averaging almost $1 trillion a year over the next decade, according to new estimates released Friday.

The new Congressional Budget Office figures predict Obama's budget will produce $9.3 trillion worth of red ink over 2010-2019. That's $2.3 trillion worse than the administration predicted in its budget just last month.

Worst of all, CBO says the deficit under Obama's policies would never go below 4% of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5% of gross domestic product, a dangerously high level.

The latest figures throw a major monkey wrench into efforts to enact Obama's budget, which promises universal health care for all and higher spending for domestic programs like education and research into renewable energy.
http://www.usatoday.com/news/washing...t_N.htm?csp=34

In case you don't know what a $1 Trillion looks like...
http://www.pagetutor.com/trillion/index.html

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post #2 of 16 (permalink) Old 03-20-2009, 08:00 PM
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I saw that.


I love how he takes mortgages out on the country's future with all this debt, and calls it "investment"
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post #3 of 16 (permalink) Old 03-20-2009, 08:34 PM
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post #4 of 16 (permalink) Old 03-20-2009, 08:46 PM
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Quote:
Originally Posted by TexasDevilDog View Post
He is going to make us all slaves to the government.
I heard that our tax system is voluntary, in essence. Is this correct? If so, how can we be slaves?





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Obamanomics = Trickle Up Poverty

Think you need to format/reinstall your OS(XP), read this first.
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post #5 of 16 (permalink) Old 03-20-2009, 08:50 PM
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Originally Posted by TexasDevilDog View Post
He is going to make us all slaves to the government.
We have been that way before he came into office

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post #6 of 16 (permalink) Old 03-20-2009, 09:01 PM
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post #7 of 16 (permalink) Old 03-20-2009, 09:33 PM
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He's also about to crank up the printing presses at the treasury...$1 trillion will be added to circulation. Can you say $6-gallon-milk? Inflation, here we come!

CHL holder and Conservative...AKA "Domestic Terrorist"
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post #8 of 16 (permalink) Old 03-20-2009, 10:15 PM
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post #9 of 16 (permalink) Old 03-21-2009, 06:06 AM
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Quote:
Originally Posted by Tx Redneck View Post
I heard that our tax system is voluntary, in essence. Is this correct? If so, how can we be slaves?
Income tax is not voluntary. You think it is voluntary? Just go ahead and stop paying your taxes. Then see what happens.
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post #10 of 16 (permalink) Old 03-21-2009, 06:22 AM
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Yea no shit lol, voluntarily lose you shit.
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post #11 of 16 (permalink) Old 03-21-2009, 07:12 AM
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Quote:
Originally Posted by TexasDevilDog View Post
Income tax is not voluntary. You think it is voluntary? Just go ahead and stop paying your taxes. Then see what happens.
While I understand what you're sayin, and agree w/ you, I'll have to find the info that I got this from so you can read it. The way it was explained made perfect sense.

EDIT: What I heard was another person taking the verbiage of the tax law outta context, specifically, the word voluntary.


http://docs.law.gwu.edu/facweb/jsieg.../IncomeTax.htm <------this lead me to this ------> http://www.irs.gov/taxpros/article/0,,id=159932,00.html and it states:
Quote:
The Law: The word “voluntary,” as used in Flora and in IRS publications, refers to our system of allowing taxpayers initially to determine the correct amount of tax and complete the appropriate returns, rather than have the government determine tax for them from the outset. The requirement to file an income tax return is not voluntary and is clearly set forth in sections 6011(a), 6012(a), et seq., and 6072(a). See also Treas. Reg. § 1.6011-1(a).





Listen to my buddy, Jeff Bolton, from 6-9 AM Mon-Fri.

Obamanomics = Trickle Up Poverty

Think you need to format/reinstall your OS(XP), read this first.

Last edited by Tx Redneck; 03-21-2009 at 09:23 AM.
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post #12 of 16 (permalink) Old 03-21-2009, 09:45 AM
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Quote:
Originally Posted by Tx Redneck View Post
While I understand what you're sayin, and agree w/ you, I'll have to find the info that I got this from so you can read it. The way it was explained made perfect sense.

EDIT: What I heard was another person taking the verbiage of the tax law outta context, specifically, the word voluntary.


http://docs.law.gwu.edu/facweb/jsieg.../IncomeTax.htm <------this lead me to this ------> http://www.irs.gov/taxpros/article/0,,id=159932,00.html and it states:
What you quoted from the IRS site is under filing a return. The next section down pertains to paying taxes.

Nevertheless, slavery and indentured servitude at their core are each an economic system where nearly 100% of someone's labor is taken. The more that government takes of someone's labor makes them more of a slave.

As for induntured servitude, where someone agrees to give up their labor gains to pay off a debt, it is very similar to a person today that drives their self in to debt to be a slave to the bank.

The rich rule over the poor, and the borrower is servant to the lender. - Proverbs 22:7
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post #13 of 16 (permalink) Old 03-21-2009, 09:51 AM
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Quote:
Originally Posted by TexasDevilDog View Post
What you quoted from the IRS site is under filing a return. The next section down pertains to paying taxes.

Nevertheless, slavery and indentured servitude at their core are each an economic system where nearly 100% of someone's labor is taken. The more that government takes of someone's labor makes them more of a slave.

As for induntured servitude, where someone agrees to give up their labor gains to pay off a debt, it is very similar to a person today that drives their self in to debt to be a slave to the bank.

The rich rule over the poor, and the borrower is servant to the lender. - Proverbs 22:7
I see what you're sayin but aren't they synonymous?





Listen to my buddy, Jeff Bolton, from 6-9 AM Mon-Fri.

Obamanomics = Trickle Up Poverty

Think you need to format/reinstall your OS(XP), read this first.
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post #14 of 16 (permalink) Old 03-21-2009, 10:13 AM
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Quote:
Originally Posted by TexasDevilDog View Post
He is going to make us all slaves to the government.
He has said that he would like to get back to the values this country was built on. At one point wasn't slavery one of them?
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post #15 of 16 (permalink) Old 03-21-2009, 11:15 AM
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Originally Posted by Vertnut View Post
He's also about to crank up the printing presses at the treasury...$1 trillion will be added to circulation. Can you say $6-gallon-milk? Inflation, here we come!
bingo. I expect we'll be worrying about inflation within 6 months.
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post #16 of 16 (permalink) Old 03-21-2009, 11:19 AM
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I actually know a few people who do not file tax returns . Most of the people you here about getting nailed are the ones who falsely file tax returns .
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