And yet the reality is that federal taxes are near all time lows.
Something funny is going on here.
GOP Presidential Candidates
- Thread starter Clemsonfan15
- Start date
And yet the reality is that federal taxes are near all time lows.
Something funny is going on here.
A freind of mine sent me the following link... Had to share:
NEW YORK, NY (The Wall Street Journal) – Republican presidential candidate Mitt Romney today released the following letter to the American people:
Dear American People:
Yesterday, comments I made about poor people made me look terrible. This always seems to happen when I say what I really believe.
The fact is, I do care about poor people. That’s because I’m poor myself, when you compare me to Mark Zuckerberg.
According to most projections, Facebook’s IPO should net Mr. Zuckerberg a personal fortune of $28 billion. I couldn’t make a pile of dough-re-mi like that even if I fired people twenty-four hours a day.
Now, let’s take a look at Mitt Romney’s net worth: a measly $200 million. Now do you see why I consider myself poor? Compared to Mark Zuckerberg, Mitt Romney is practically a crack whore.
Now, I’m not going to sit here and envy a rich person like Mark Zuckerberg. That’s exactly what President Obama wants poor people like me to do. Mark Zuckerberg made his money fair and square, by creating useful products like imaginary sheep and angry birds. Say what you will about Facebook, it has totally revolutionized the way we waste our lives.
The fact is, if you’re poor in America, you should do what Mark Zuckerberg did: create a social network. I’ve just started my own, called TwoFaceBook. With TwoFaceBook, your profile doesn’t stay the same for more than two seconds.
In closing, there’s one more reason I don’t worry about poor people. They have Groupons.
Thanks for your vote,
Mitt Romney
NEW YORK, NY (The Wall Street Journal) – Republican presidential candidate Mitt Romney today released the following letter to the American people:
Dear American People:
Yesterday, comments I made about poor people made me look terrible. This always seems to happen when I say what I really believe.
The fact is, I do care about poor people. That’s because I’m poor myself, when you compare me to Mark Zuckerberg.
According to most projections, Facebook’s IPO should net Mr. Zuckerberg a personal fortune of $28 billion. I couldn’t make a pile of dough-re-mi like that even if I fired people twenty-four hours a day.
Now, let’s take a look at Mitt Romney’s net worth: a measly $200 million. Now do you see why I consider myself poor? Compared to Mark Zuckerberg, Mitt Romney is practically a crack whore.
Now, I’m not going to sit here and envy a rich person like Mark Zuckerberg. That’s exactly what President Obama wants poor people like me to do. Mark Zuckerberg made his money fair and square, by creating useful products like imaginary sheep and angry birds. Say what you will about Facebook, it has totally revolutionized the way we waste our lives.
The fact is, if you’re poor in America, you should do what Mark Zuckerberg did: create a social network. I’ve just started my own, called TwoFaceBook. With TwoFaceBook, your profile doesn’t stay the same for more than two seconds.
In closing, there’s one more reason I don’t worry about poor people. They have Groupons.
Thanks for your vote,
Mitt Romney
Except inflation is at 3% also near all time lows. The economic facts do not support what you are saying
RunninInGA
New member
NOT TRUE. Inflation is more like 3 times what you just indicated. Stop believing what MSM is telling you. What you're neglecting to note is that, like unemployment statistic calculations, the methodology is ever-changing to make the numbers appear better than they really are - i.e. the equation has been modified and bas****ized over the years.
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Not at all the MSM... For me anyway the 3% is based on personal experience.
I personally spend lots of money every year, and I keep close tabs on my personal budget. I can see first hand that my cost of food, housing and fuel has not increased at even the 3% rate vs last year... Nowhere near the 9% that you suggest... Last year our 3 week vacation to Hawaii cost $7,100. My wife just booked this year... Guess what... $7,100... Electricity costs have been flat for a long time now, natural gas is getting cheaper.
Insurance has been flat too. Federal and State taxes are flat or down.
The only thing that I can point to that is increasing over the 3% rate is local property taxes, and they are growing at just over 4%.
I'm not saying that hyper inflation isn't just around the corner.... but it aint here now.
BrianSD_42
New member
Check this site out:
Shadow Government Statistics : Home Page
You guys are correct about the stats being false, especially unemployment.
I am not worried about hyper inflation but I am worried about what happens if we dont pay our debt. Tax revenues are needed to start paying it down. If the Pres had more political backbone and skill he would be trying to make this happen along with spending cuts. The US has $2 Trillion dollars in debt maturing in 2012 alone. It will be paid for with new debt. That is really crazy, in 10 years we could end up like greece because the US refuses to tax its citizens at the necessary amounts to pay its bills.
I'm all for cutting certain government spending but taxes need to go up appropriately.
Shadow Government Statistics : Home Page
You guys are correct about the stats being false, especially unemployment.
I am not worried about hyper inflation but I am worried about what happens if we dont pay our debt. Tax revenues are needed to start paying it down. If the Pres had more political backbone and skill he would be trying to make this happen along with spending cuts. The US has $2 Trillion dollars in debt maturing in 2012 alone. It will be paid for with new debt. That is really crazy, in 10 years we could end up like greece because the US refuses to tax its citizens at the necessary amounts to pay its bills.
I'm all for cutting certain government spending but taxes need to go up appropriately.
RunninInGA
New member
I've visited the website you posted - it's in my regular round-robin of sites. We do not need to raise taxes to cover our current spending - we just need to spend less to cover our current debts. Raise taxes and spending gets raised as well - it's human nature.
Saw this on another forum. While I haven't verified the exact numbers, the concept is the same.
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quicksilvr
New member
You left out general cost of living stuff. Groceries and dry goods have gone up a LOT. Sorry I didn't research actual numbers. lol
THE problem to match current revenue you would have to have MASSIVE cuts to social security, medicare and defense. The last time we increased the debt limit the Tea Party Republicans DEMANDED (and got) automatic cuts if no agreement could be reached... guess what... those automatic cuts are about to happen and THEY are the ones freaking out.
The fact is that if we simply returned to the tax levels under Reagan (after he cut them in his first term... even before Bush 41 raised them ) we would likely not only be able to support current spending, but we would have a surplus (like we did under Clinton)
And the problem with your chart is that the debt is NOT credit card debt. It is more like a 0% mortgage on a capital asset. It is more like a prime mortgage on your home. It would take a minimal adjustment to start to pay off that mortgage (like we did in the late 90's)
Our current problem is ALL on the revenue side. Bush 43 turned a surplus into a considerable deficit NOT by increasing spending, BUT mostly by cutting taxes on the rich, Obama made it worse by cutting taxes on the less rich (which most of the stimulus package was... over half of the stimulus package was tax cuts to small businesses and middle/low income Americans)
A little bit of revenue (like going from 35% -> 38.5% the current rate to Reagan's rate 3.5%!) would go along way to fixing all that is wrong with the debt.
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Re read my post, food is on my list, fuel is on my list, I keep track of every penny that I spend. Over the last few years my cost of living has been within a few tenths of a percent of the published CPI and Inflation rate.
tbst
New member
The biggest flaw with all of this balanced budget stuff is that (generally) everyone who is a proponent of it fails to look at both sides. Raising taxes would also help to balance the budget.
While some cuts are reasonable, privatizing social security and making other safety net cuts is not the way to go.
You can't just cry for a balanced budget w/o acknowledging one way to balance the budget is to raise taxes.
JohnWiggy
New member
"Our current problem is ALL on the revenue side."
This comment is both amazing and disturbing at the same time. I can't believe people actually think this.
Anyhow, it sure looks like we are going to have to vote for Romney... great. Pardon my enthusiasm. And thanks a lot Florida...
Did anyone see Obama singing the other day? Is is possible for this man to be more addicted to adulation? I don't know how much more I can take of this guy... never thought the day would come when I'd miss Clinton. :nono:
(Rant over)
This comment is both amazing and disturbing at the same time. I can't believe people actually think this.
Anyhow, it sure looks like we are going to have to vote for Romney... great. Pardon my enthusiasm. And thanks a lot Florida...
Did anyone see Obama singing the other day? Is is possible for this man to be more addicted to adulation? I don't know how much more I can take of this guy... never thought the day would come when I'd miss Clinton. :nono:
(Rant over)
Did you miss Romney singing too... Lets not pick presidential candidates based on that... One of them can sing... the other was painful.
Romney Sings "America The Beautiful" - YouTube
And as for this not being a revenue problem... Lets see... Some simple facts.
Defense, Social Security, Medicare, Medicaid and interest on the debt, etc... Make up 81% of the federal budget. If you cut ALL that is left... 19% , you reduce the budget by 660 Billion... Problem is that the current deficit is almost THREE TIMES THAT.
To balance the budget WITHOUT an adjustment on the revenue side will take huge cuts to defense, Social Security, Medicare, Medicaid, etc. These are all VERY popular programs and would result in people in the streets.
To balance the budget at current revenue levels you would need to COMPLETELY ELIMINATE ALL of the Defense budget, ALL of the 19% I noted above AND almost ALL of the Social Security.
This is really simple math and it is amazing how few Americans understand this. Taxes are near all time lows and the deficit is near all time highs. And yes there is a direct causal effect with that. I miss Clinton too, he got the simple math and he and Gingrich balanced the budget and created a HUGELY successful economy, by simply raising taxes by 3.5%... that's all we need... That's why nothing is getting done... 3.5%.
BrianSD_42
New member
That jpg about the budget is from Reddit.com
Clemsonfan15
New member
Defense needs to be cut down for sure. I'm not saying we go as far as Ron Paul wants, but it's getting out of hand.
tbst
New member
I missed the time when Obama asked his dying wife for a divorce. And the time that he asked his MS diagnosed wife for an open relationship.
RunninInGA
New member
Did you see the one where Michelle spent $50K on underwear? Or when O8ama sent Air Force 1 to pick up his dog for vacation? Or when he expanded the powers of the Executive Branch to sign and execute orders and "agreements" previously only allowed by Congress?
In other news, it now costs $450 to renounce your citizenship in this country. Also, Congress just passed legislation earmarking control of airspace to allow more domestic unmanned drone flights - "Currently, the FAA restricts drone use primarily to segregated blocks of military airspace, border patrols and about 300 public agencies and their private partners," however the new law makes it possible to fly in populated areas.
tbst
New member
Did you hear Obama isn't a US citizen?!?!
Seriously, who cares if she did. It's her god given right. But if you google that line, no reputable news reports it.
snopes.com: Obama Dog Flies on Own Plane
He may be doing that. However, Republican's definitely have the biggest crack pipe.
Seriously, who cares if she did. It's her god given right. But if you google that line, no reputable news reports it.
snopes.com: Obama Dog Flies on Own Plane
He may be doing that. However, Republican's definitely have the biggest crack pipe.
Now, now, lets not muddy up this thread with facts... Everyone knows that facts have a liberal bias.
