Every citizen of the US owns a piece of the deficit. What we should do besides cutting government budgets, is just create a payment plan where every citizen pays their piece off over several years. One payment a year that goes with your taxes. Plan being on paying it off in 4 years. Get that Mofo Paid off. As for government cuts, I am in favor of cutting every program across the board a single percent at a time until they deficit is eliminated. After the cuts any program that still isn't viable because of lack of budet is cut period. That would guarantee a balanced budget, and if a program is so important it must stay, then something stupid can be cut so that it can stay alive.
the deficit is less than 2T$ and the gdp is 14T$. so we just have to put 10% of all our GDP into deficit. Now how could that happen...
We own a piece of the debt, not the deficit. And the debt is roughly $14T, or approximately $45,454.55 per person or $140,000.00 per household. While many people could just write a check, most others couldn't hope to pay their share in their lifetime.
I agree with Ed. The other interesting thing about a proposal like this is that it doesn't just reduce our debt and the burden on the future, it results in a drop in spending by reducing our debt principle and thus reduces the yearly spend on interest payments. If our debt was gone, we would have a 6% lower yearly spend due to interest.
True, but your original question was if we would support a tax increase if there was a promise to not increase spending.
Household of 4 it's over $180K. And in 10 years, given the status quo of government spending habits, it'll be $360K. westnob, We're already putting 18% of GDP into the government so to put in another 10% would be 28% or something like > 50% tax hike on everyone and everything. That's not accounting for any state and local (sales tax, property tax, state income tax, etc.) taxes, which would be over and above our doubled tax rates.
Isn't that an example of voting for the same people over and over again? Is there another Democrat in CA who has been in public office longer than Jerry Brown? The guy's entire life is built off of taxpayer money, and he's the guy who is going to reform government? Isn't he due to collect a $185k government pension now, as opposed to $73k prior to his election, when he retires as governor? 14 years were just added, even though there was a gap in "employment", right? Man, California is just plain messed up when that guy is the "reform" candidate. His Dad was even the governor.
Not clear to me why the debt should be allocated on a per-capita basis. Surely, if we actually try to pay it off, every man/woman/child won't pay an equal share. barfo
All that is true, but he speaks his mind, is honest, has real convictions, and I happen to really like him as a politician. California is quite messed up - he may as well be the governor when we file for bankruptcy.
From each according to his ability, to each according to his needs. Did I get that right, commie pinko? The way things are going, it's going to be quite the opposite in a hugely upside down way. I'm not talking about the rich paying for it all (they do now), but rather those who become entirely dependent on govt. will have NO ability to "from each."
