Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

Discussion in 'Blazers OT Forum' started by SlyPokerDog, Jan 1, 2013.

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  1. jlprk

    jlprk The ESPN mod is insane.

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    When you tax an activity, you force it to cut the fat to survive. Yes, incompetent businesses would go out of business, losing their customers to their competitors. But the customers would just change their habits and carry on with the surviving suppliers.

    Survival of the fittest won't ruin the economy. It will just ruin the unfit. There is enormous fat to be cut in the top 5%, as well as in Federal government payscales.
     
    jlprk, Jan 2, 2013
    #21
  2. MARIS61

    MARIS61 Real American

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    Relatively speaking. :devilwink:
     
    MARIS61, Jan 2, 2013
    #22
  3. jlprk

    jlprk The ESPN mod is insane.

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    What surprises me is that Republicans are surprised. After the 12 long, long years of 1981-93, I knew the debt would soon hurt the economy. The Clinton surpluses brought me optimism, but in 2001 Republican terrorists were again intent upon creating deficits to destroy capitalism. Since Bush's surprise win in 2004, I have known this day would come.

    This economy will now slowly die if under Democrats, and quickly if under Republicans. Elect delays. Vote for Democrats.
     
    jlprk, Jan 2, 2013
    #23
  4. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    $12 gas? That was someone else. PapaG I think.
     
    Denny Crane, Jan 2, 2013
    #24
  5. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    http://online.wsj.com/article/SB100...8215873697800166.html?mod=WSJ_Opinion_LEADTop

    There has emerged from the budget negotiations no process to cut government programs, limit the debt or reform the tax code. Many tax rates have now gone up and almost no spending restraint has been implemented, hurting 2013 investment and hiring. Even if the spending sequester is allowed to proceed on March 1 or substitutes are found, the cuts will be a small fraction of the spending binge in recent years that left a string of $1 trillion deficits.

    The Congressional Budget Office scores the Senate bill as adding $4 trillion to the national debt by 2022. That assumes the sequester or equivalent spending cuts are fully implemented in March, which seems unlikely. Some are hoping that during the coming confrontation over the debt-limit increase fiscal conservatives will be able to recover lost ground on spending. That won't work, because the debt limit doesn't provide much leverage.
     
    Denny Crane, Jan 2, 2013
    #25
  6. magnifier661

    magnifier661 B-A-N-A-N-A-S!

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    Cut spending? Then why may I ask did you vote for Obama? He spent more money in 4 years than any other president ever.
     
    magnifier661, Jan 2, 2013
    #26
  7. BLAZER PROPHET

    BLAZER PROPHET Well-Known Member

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    FIFY
     
    BLAZER PROPHET, Jan 2, 2013
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  8. huevonkiller

    huevonkiller Change (Deftones)

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    When our currency collapses you can expect a large hike in gasoline though. That's just reality, the timing depends on when we are no longer the global reserve currency.
     
    huevonkiller, Jan 2, 2013
    #28
  9. blazerboy30

    blazerboy30 Well-Known Member

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    It's interesting (and mostly scary) to me that so many people like you consider "realistic" scenarios to not make drastic, slashing cuts and still maintain a functioning nation in the future. Meanwhile, budget proposals that may actually be a step in the right direction are considered "unrealistic".
     
    blazerboy30, Jan 2, 2013
    #29
  10. blazerboy30

    blazerboy30 Well-Known Member

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    What percentage of the current deficit could be covered by tax increases on the top 1%? What would their effective tax rate need to be in order to do so?
     
    blazerboy30, Jan 2, 2013
    #30
  11. BlazerWookee

    BlazerWookee UNTILT THE DAMN PINWHEEL!

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    :ohmy:
     
    BlazerWookee, Jan 2, 2013
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  12. BigGameDamian

    BigGameDamian Well-Known Member

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    You mean the physical cliff deal?
     
    BigGameDamian, Jan 2, 2013
    #32
  13. SlyPokerDog

    SlyPokerDog Woof! Staff Member Administrator

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    :biglaugh:
     
    SlyPokerDog, Jan 2, 2013
    #33
  14. STOMP

    STOMP mere fan

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    10$ & I don't respond to PapaG... I'm sure it was you. Do you really need me to look it up? I'd rather you just do your dance

    you were pontificating about how the President's embargo was exasperating the situation driving up prices...

    STOMP
     
    Last edited: Jan 2, 2013
    STOMP, Jan 2, 2013
    #34
  15. jlprk

    jlprk The ESPN mod is insane.

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    You think that Admiral McCain would have cut military spending? Or Romney, who kept threatening Iran with war during his campaign?
     
    jlprk, Jan 2, 2013
    #35
  16. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    What embargo?

    I think that people are becoming so poor so fast under the current economic policies that people simply can't afford to drive so much at any price. Supply/Demand says lower prices for that reason alone.
     
    Denny Crane, Jan 3, 2013
    #36
  17. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Denny Crane, Jan 3, 2013
    #37
  18. ABM

    ABM Happily Married In Music City, USA!

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    * U.S. Tax revenue: $ 2,170,000,000,000
    * Fed budget: $ 3,820,000,000,000
    * New debt: $ 1,650,000,000,000
    * National debt: $14,271,000,000,000
    * Recent budget cuts: $ 38,500,000,000

    Let’s now remove 8 zeros and pretend it’s a household budget:

    * Annual family income: $ 21,700
    * Money the family spent: $ 38,200
    * New debt on the credit card: $ 16,500
    * Outstanding balance on the credit card: $142,710
    * Total budget cuts so far: $ 38.50

    Oh. and in regard to the debt ceiling: let’s say, you come home from work and find there has been a sewer backup in your neighborhood…and your home has sewage all the way up to your ceilings. What do you think you should do ……raise the ceilings, or remove the crap?
     
    ABM, Jan 5, 2013
    #38
  19. STOMP

    STOMP mere fan

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    good grief... embarrassing

    http://sportstwo.com/threads/204214-Is-Rick-Santorum-Electable

    in the thread you go on and on... this wasn't even a year ago

    STOMP
     
    STOMP, Jan 5, 2013
    #39
  20. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Good grief

    [video=youtube;8D_IL3Vwbqg]http://www.youtube.com/watch?v=8D_IL3Vwbqg[/video]
     
    Denny Crane, Jan 5, 2013
    #40
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