Higher Taxes Canít Eliminate The Deficit - DFWstangs Forums
 
LinkBack Thread Tools Display Modes
post #1 of 19 (permalink) Old 04-08-2010, 10:24 PM Thread Starter
Rockin' da fumanchu
 
Join Date: Nov 2005
Location: On the straight and narrow,stumbling at best, only by Gods grace.
Posts: 7,224
Higher Taxes Canít Eliminate The Deficit

http://sweetness-light.com/archive/higher-...ate-the-deficit

In August 2009, the Congressional Budget Office (CBO) projected that the federal budget deficit would total $7.1 trillion over the 2010-2019 decade-under current law. That outcome would require the 2001 and 2003 tax cuts to sunset as scheduled in 2011 and Congress to stop "patching" the alternative minimum tax to minimize its bite. If neither of those things happens, CBO says the cumulative deficit over the decade would jump to $11.1 trillion, more than doubling the national debt. Our economy cannot sustain that rate of debt increase. How can we reverse it?

This paper poses a simple question: could incremental reforms of the current tax system raise enough revenue to reduce the deficit to an average of 2 percent of GDP over the last five years of the budget window? We use the Urban-Brookings Tax Policy Center Tax Model to simulate several revenue-raising tax changes, including raising all income tax rates proportionally, hiking taxes only for high-income taxpayers, and either limiting or eliminating itemized deductions to broaden the tax base.

We conclude that politically feasible tax increases within the current tax structure cannot generate sufficient revenues to bring federal budget deficits under controlÖ

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

I guess that "voodoo economics" really do work. Please read on @ the link.





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.
Tx Redneck is offline  
Sponsored Links
Advertisement
 
post #2 of 19 (permalink) Old 04-08-2010, 11:38 PM
Canada is welcome here.
 
justinsn95's Avatar
 
Join Date: Mar 2005
Location: ft worth
Posts: 4,039
What I wonder is, I how the hell did they talk china into buying debt? Especially that much debt. Why would they ever do it? If I were them, I'd tell us to take a flying leap and that I hope we choke. I mean that's what I'd tell the chinese if the roles were reversed. I am not sure that they will ever get their money back. Guess it doesn't really matter to them. They will just slave up some more money lol

Quote:
Originally Posted by aksthem1 View Post
i think thedark1337 is a pretty cool guy. eh plays the game and doesnt afraid of anything


Quote:
Originally Posted by Chillaxed View Post
- later on when i was about 16 i suddenly came to the realization that i had zero appeal to women and i said "i'm going to say i'm gay from now on"
justinsn95 is offline  
post #3 of 19 (permalink) Old 04-08-2010, 11:45 PM
not exclude
 
exlude's Avatar
 
Join Date: Jun 2003
Posts: 9,838
Maybe China figures that if they didn't loan us the money, we'd be forced to fix our shit and get our act together. This would eventually lead back to a powerful US, and god knows China doesn't want that. This way, they have us under their thumb.
exlude is offline  
 
post #4 of 19 (permalink) Old 04-08-2010, 11:52 PM
Genetically Blessed
 
Join Date: Jul 2002
Location: An Investment Bank
Posts: 13,733
Maybe China buys shitloads of USD to keep their forex reserves sky high and keep the Yuan low to help with exports.
slow99 is offline  
post #5 of 19 (permalink) Old 04-09-2010, 07:07 AM
PAN
 
Join Date: Mar 2002
Location: Under a rock
Posts: 20,154
Maybe this^^^^
Fox466 is offline  
post #6 of 19 (permalink) Old 04-09-2010, 11:54 AM
Lifer
 
MR TINFOIL HAT's Avatar
 
Join Date: Jan 2002
Location: NAU
Posts: 4,982
Quote:
Originally Posted by justinsn95 View Post
What I wonder is, I how the hell did they talk china into buying debt? Especially that much debt. Why would they ever do it? If I were them, I'd tell us to take a flying leap and that I hope we choke. I mean that's what I'd tell the Chinese if the roles were reversed. I am not sure that they will ever get their money back. Guess it doesn't really matter to them. They will just slave up some more money lol
They know the one world currency that's been called for by the World Bank, IMF, UN, and others will be implemented in a short time. Why would they care if they are going to get reimbursed in full with the new one world currency? All the other paper fiat currency will be dropped and the cash-less society will be brought in. Then when you object to carbon credits, health care, or whatever, they can just take it out of your one world currency bank card that you have no control over. It's going to be great.

Our government needs our help, they have an addiction. Our government is addicted to our money. Since they always have our best interest at heart it's time we return the favor. We need to have an intervention, for the governments own good of course. It's just irresponsible for us to let people with a known money addiction continue to handle our money. Lets have an intervention now so we can help these sick individuals.
MR TINFOIL HAT is offline  
post #7 of 19 (permalink) Old 04-09-2010, 01:08 PM
Married Man on 14Feb2010
 
TexasDevilDog's Avatar
 
Join Date: Jun 2001
Location: Fort Worth, Texas (North Side)
Posts: 14,140
The borrower is slave to the lender. China is just getting us to pay them debt payments every year.
TexasDevilDog is offline  
post #8 of 19 (permalink) Old 04-09-2010, 03:02 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Pstt, I got a little secret for all you guys. China is about to have its own real estate meltdown. Remember where you heard it first.

"I find that the harder I work, the more luck I seem to have." - Thomas Jefferson (1743-1826)

"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt
AL P is offline  
post #9 of 19 (permalink) Old 04-09-2010, 03:17 PM
makin' bacon
 
Stevo's Avatar
 
Join Date: Dec 2004
Location: Longview,TX
Posts: 5,752
Quote:
Originally Posted by MR TINFOIL HAT View Post
All the other paper fiat currency


???

Stevo

Animal whisperings

Intoxicate the night

Hypnotize the desperate

Slow motion light

Wash away into the rain

Blood, milk and sky


Stevo is offline  
post #10 of 19 (permalink) Old 04-09-2010, 03:33 PM
Lifer
 
MR TINFOIL HAT's Avatar
 
Join Date: Jan 2002
Location: NAU
Posts: 4,982
Quote:
Originally Posted by Stevo View Post


???

Stevo
Nice. LMFAO

Our government needs our help, they have an addiction. Our government is addicted to our money. Since they always have our best interest at heart it's time we return the favor. We need to have an intervention, for the governments own good of course. It's just irresponsible for us to let people with a known money addiction continue to handle our money. Lets have an intervention now so we can help these sick individuals.
MR TINFOIL HAT is offline  
post #11 of 19 (permalink) Old 04-09-2010, 03:34 PM
Frequent Flyer
 
AdamLX's Avatar
 
Join Date: May 2000
Location: Frisco, TX
Posts: 9,148
Quote:
Originally Posted by AL P View Post
Pstt, I got a little secret for all you guys. China is about to have its own real estate meltdown. Remember where you heard it first.
Commercial and residential, back to back.
AdamLX is offline  
post #12 of 19 (permalink) Old 04-09-2010, 03:38 PM
Lifer
 
MR TINFOIL HAT's Avatar
 
Join Date: Jan 2002
Location: NAU
Posts: 4,982
Quote:
Originally Posted by AL P View Post
Pstt, I got a little secret for all you guys. China is about to have its own real estate meltdown. Remember where you heard it first.
So where'$ the oppurtunity for us to cash in and when? Throw us a bone

Our government needs our help, they have an addiction. Our government is addicted to our money. Since they always have our best interest at heart it's time we return the favor. We need to have an intervention, for the governments own good of course. It's just irresponsible for us to let people with a known money addiction continue to handle our money. Lets have an intervention now so we can help these sick individuals.
MR TINFOIL HAT is offline  
post #13 of 19 (permalink) Old 04-09-2010, 03:58 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by MR TINFOIL HAT View Post
So where'$ the oppurtunity for us to cash in and when? Throw us a bone
That is for you to figure out. I'm not interested in investing in that fucking place. Why, you ask? Because it is a communist operation. Anytime you invest there the Chinese government is your partner. Those mother fuckers can just decide to do something out of the blue and wipe out your investment.

As a country we may cash in because of weakness in their economy. We'll see how it all plays out though, it is very complicated.

"I find that the harder I work, the more luck I seem to have." - Thomas Jefferson (1743-1826)

"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt
AL P is offline  
post #14 of 19 (permalink) Old 04-09-2010, 04:31 PM
Canada is welcome here.
 
justinsn95's Avatar
 
Join Date: Mar 2005
Location: ft worth
Posts: 4,039
Quote:
Originally Posted by MR TINFOIL HAT View Post
They know the one world currency that's been called for by the World Bank, IMF, UN, and others will be implemented in a short time. Why would they care if they are going to get reimbursed in full with the new one world currency? All the other paper fiat currency will be dropped and the cash-less society will be brought in. Then when you object to carbon credits, health care, or whatever, they can just take it out of your one world currency bank card that you have no control over. It's going to be great.
Hmm, I don't doubt that could eventually come to pass. However, they can never, and will never, control the free trade. Ex:

Justinsn95 - "Hey Mr. Tinfoil Hat, I'll trade you my iPod for your PSP, and I'll throw in this 19" flat panel computer monitor that I don't use anymore, to sweeten the deal".

Mr Tinfoil Hat - "Ok, but also give me that cool mug you have."

Justinsn95 - "Ok, deal".

Mr Tinfoil Hat - "Thanks"

Justin95 "Thanks"

Quote:
Originally Posted by aksthem1 View Post
i think thedark1337 is a pretty cool guy. eh plays the game and doesnt afraid of anything


Quote:
Originally Posted by Chillaxed View Post
- later on when i was about 16 i suddenly came to the realization that i had zero appeal to women and i said "i'm going to say i'm gay from now on"
justinsn95 is offline  
post #15 of 19 (permalink) Old 04-09-2010, 04:40 PM
Token Troll
 
GhostTX's Avatar
 
Join Date: Nov 2004
Location: Sherman
Posts: 4,101
Quote:
Originally Posted by AL P View Post
Pstt, I got a little secret for all you guys. China is about to have its own real estate meltdown. Remember where you heard it first.
About? Hell, there's tons of subdivisions and apartment buildings vacant already. Some not even complete done building.
http://www.usatoday.com/money/world/...ble24_cv_N.htm

'05 Redfire Mustang

"Self-government won't work without self-discipline." - Paul Harvey
GhostTX is offline  
post #16 of 19 (permalink) Old 04-09-2010, 04:48 PM
NEOCON EDUCATOR
 
bullet's Avatar
 
Join Date: May 2003
Location: CHICAGO S&P PIT
Posts: 1,789
So are you saying you like the idea of keeping taxes low as long as you don't have to repay the debt increases that it causes ?

Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

Great spirits have always encountered violent opposition from mediocre minds at dfwstangs.net

MONEY NEVER SLEEPS

Quote:
Originally Posted by slow99 View Post
When you pull in 20 million percent a year like BULLET, you have your share of 5 and 6 figure days!

GENUFLECT TO THE BULLET




FACTS ARE LIKE ACID TO THE SKIN OF REPUBLICONS
bullet is offline  
post #17 of 19 (permalink) Old 04-09-2010, 05:05 PM
DFWMUSTANGS.NET
 
Join Date: Jun 2007
Posts: 3,635
Quote:
Originally Posted by AL P View Post
Pstt, I got a little secret for all you guys. China is about to have its own real estate meltdown. Remember where you heard it first.
Yup.


Wonder who Obama is gonna get to buy up all our debt when this happens.
sc281_99-0135 is offline  
post #18 of 19 (permalink) Old 04-09-2010, 05:22 PM
Worship me
 
AL P's Avatar
 
Join Date: Mar 2000
Posts: 34,345
Quote:
Originally Posted by GhostTX View Post
About? Hell, there's tons of subdivisions and apartment buildings vacant already. Some not even complete done building.
http://www.usatoday.com/money/world/...ble24_cv_N.htm
I'm saying it is going to get a hell of a lot worse.

"I find that the harder I work, the more luck I seem to have." - Thomas Jefferson (1743-1826)

"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt
AL P is offline  
post #19 of 19 (permalink) Old 04-09-2010, 06:37 PM
Lifer
 
MR TINFOIL HAT's Avatar
 
Join Date: Jan 2002
Location: NAU
Posts: 4,982
Quote:
Originally Posted by AL P View Post
That is for you to figure out. I'm not interested in investing in that fucking place. Why, you ask? Because it is a communist operation. Anytime you invest there the Chinese government is your partner. Those mother fuckers can just decide to do something out of the blue and wipe out your investment.

As a country we may cash in because of weakness in their economy. We'll see how it all plays out though, it is very complicated.
Gotcha, thanks.

Our government needs our help, they have an addiction. Our government is addicted to our money. Since they always have our best interest at heart it's time we return the favor. We need to have an intervention, for the governments own good of course. It's just irresponsible for us to let people with a known money addiction continue to handle our money. Lets have an intervention now so we can help these sick individuals.
MR TINFOIL HAT is offline  
Sponsored Links
Advertisement
 
Reply

Bookmarks

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the DFWstangs Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome