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How do you bring the deficit down?

Discussion in 'Political Zone' started by vlad, Oct 16, 2008.

  1. vlad

    vlad Well-Known Member Zone Supporter

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    Aside from raising taxes (because who likes to pay taxes), what ways are there to bring the deficit down?

    I know cutting spending is the best answer, and let's say they just paid salaries and nothing else. How does the government actually make money other than taxes? Are there speculative investments or anything like that?

    What other ways are there to get this going in the other direction?

    Trying to learn more about this stuff and people here seem informed. thanks.
  2. joseephuss

    joseephuss Well-Known Member

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    Declare bankruptcy for the whole country.

    We can't pilfer social security anymore to pay down the debt, but there are probably other areas that can transfer money over.

    Cut spending is a big one. That can be done in a couple of ways. Cut funding for unnecessary programs. You can also clean up the wasted spending that is done on legitimate programs. The military is a legitimate program that should be funded, but there is also a lot of wasted money put into the military. Clean up the bureaucracies that create that wasted spending and tidy things up.

    There is also taxes, but I know no one wants to hear that. The deficit is not going to go away on its own.
  3. BrAinPaiNt

    BrAinPaiNt Brotherhood of the Beard Staff Member

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    Yep...in this current situation cutting spending is not going to do it by itself.

    Taxes in one area or another is going to be needed.

    I don't see it happening until we are no longer at war and not just in Iraq but the war on terrorism...whether that be actual war or political war, but that is just me.
  4. Kangaroo

    Kangaroo Active Member

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    Go to a flat tax that way you can reduce the size of the IRS to nothing.

    Reduce the size of the Government why do we have the FBI; CIA; DEA Secret Service; US Marshals; Department of Homeland Security I mean come on we do not need that many branches of law enforcement; stream line the agencies in to one so we do not have the stupid Jurisdictional fighting and posturing we have because of it. That also reduces the overhead on all those different departments.

    Payroll Taxes reducing Payroll taxes makes it easier to keep jobs in this country.

    Department of Education what does it really do ?

    Just some examples there are plenty more
  5. Hostile

    Hostile Tacos are a good investment Zone Supporter

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    Several things.

    1. Establish a flat tax of 10% for all citizens, 15% for resident aliens, and 20% for all businesses owned by non US Citizens. Across the board, no loopholes, no tax cuts. We'd all be better off financially with a lower flat tax. It is equal for the wealthy, middle class, and lower class.

    2. I would demand payment of all moneys owed by foreign countries. If they are unable to pay they need to establish a payment plan that has a definite timetable.

    3. I would cease all foreign aid to countries that owe us money and are not paying it back.

    4. I would establish a National Lottery that 25% of every week's ticket sales went directly to the economy, 25% to specific needs that no special interest group can touch, and 50% to the winner(s). Maybe more if it were possible.

    5. I would tell Congress that their years of overspending and empty rhetoric was going to cost them. They would be asked to donate their salaries or their pensions to fixing the financial issues of the country and that if need be we'd get the citizens to vote on it. Congress has a 14% approval rating, they would see the writing on the wall.

    6. Any elected official involved in shady deals would be prosecuted and their finances would be monitored and garnished.

    7. I would set the example by donating all my salaries and pensions before I went after Congress.

    8. Cut all pork barrel spending and prosecute if called for.

    9. I would not bail out renegade companies because if Joe the Plumber spends more than he makes and his business goes belly up we are not going to bail him out.

    10. I would establish true economic stimulus measures to be given back to the citizens who are positive contributions to society.

    11. I would make it so that all who from that point forward are found guilty of abusing the system for their own gain (and that includes election shenanigans like registering the Dallas Cowboys to vote in Nevada) would lose all citizenship rights, including their rights to do anything except pay taxes and their taxes would be higher than any other tax class.
  6. JBond

    JBond Well-Known Member

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    Get rid of handouts to people who have done nothing for them. Cutting taxes rates on income across the board will help increase revenue to the Treasury. Then eliminate the capital gains tax and death tax.

    Done!

    Basically, get government out of the way.
  7. Sasquatch

    Sasquatch Lost in the Woods

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    From wikipedia (search: 2008 US Federal budget)

    The President's budget for 2008 totals $2.9 trillion. Percentages in parentheses indicate percentage change compared to 2007. This budget request is broken down by the following expenditures:

    * Mandatory spending: $1.788 trillion (+4.2%)
    o $608 billion (+4.5%) - Social Security
    o $386 billion (+5.2%) - Medicare
    o $209 billion (+5.6%) - Medicaid and the State Children's Health Insurance Program (SCHIP)
    o $324 billion (+1.8%) - Unemployment/Welfare/Other mandatory spending
    o $261 billion (+9.2%) - Interest on National Debt

    * Discretionary spending: $1.114 trillion (+3.1%)
    o $481.4 billion (+12.1%) - United States Department of Defense
    o $145.2 billion (+45.8%) - Global War on Terror
    o $69.3 billion (+0.3%) - Health and Human Services
    o $56.0 billion (+0.0%) - United States Department of Education
    o $39.4 billion (+18.7%) - United States Department of Veterans Affairs
    o $35.2 billion (+1.4%) - US Department of Housing and Urban Development
    o $35.0 billion (+22.0%) - State and Other International Programs
    o $34.3 billion (+7.2%) - Department of Homeland Security
    o $24.3 billion (+6.6%) - Energy
    o $20.2 billion (+4.1%) - Department of Justice
    o $20.2 billion (+3.1%) - Department of Agriculture
    o $17.3 billion (+6.8%) - National Aeronautics and Space Administration
    o $12.1 billion (+13.1%) - Department of Transportation
    o $12.1 billion (+6.1%) - Department of Treasury
    o $10.6 billion (+2.9%) - United States Department of the Interior
    o $10.6 billion (-9.4%) - United States Department of Labor
    o $51.8 billion (+9.7%) - Other On-budget Discretionary Spending
    o $39.0 billion - Other Off-budget Discretionary Spending

    The Iraq war and the Afghanistan war are not part of the defense budget; they are appropriations.

    Happy trimming. :)
  8. JBond

    JBond Well-Known Member

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    How is welfare and other mandatory spending mandatory? Welfare is not mandatory. What is the rest of the junk included in the $324 billion? Health and human services. Cut in half. The bottom 5 on the list are a total waste of money. Everyone in the Dept of Housing should be fired along with the Treasury. What a colossal waste of our money. The last two in paticualr make me mad. That is 82 billion used to purchase votes. Disgusting.

    Total savings of about $458 billion.
  9. Wheat

    Wheat Philosopher

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    #1. You don't cut taxes AND wage war at the same time. Its just common sense.

    You ask people to suck it up and do their part to help this country win. Telling people to keep shopping isn't the answer.
  10. JBond

    JBond Well-Known Member

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    You do not understand the basics, do you? I have explained this in simple, child like terms many times. I'll try again.

    Part 1. When you cut taxes, revenues to the Treasury goes up. It has happened every time there has been a major tax bunden removed or lowered.

    Part 2. When you raise taxes, revenue to the Treasury drops. That means the government has less money to work with when taxes are high.

    Part 3. Hight taxes are bad.

    I hope you and others understand it now.
  11. arglebargle

    arglebargle Well-Known Member

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    Do you have a clue about the actual functions of any of those things you want to cut, or are you just blithely spouting off the party line?

    Reminds me of the "If Firefighters ran the government" commercial. It's easy to make grand statements, but hard to do the actual nuts and bolts work.

    Oh, and the so called 'Death Tax' is a political stalking horse. Most claims about how terrible it is are false.

    Even if everyone accepted your cuts, the figure I saw for our debt accumulation last year was 3 billion per day. Your cuts would offset about half of that.....
  12. JBond

    JBond Well-Known Member

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    Big surprise. Another entitlement junkie. What do you need? I'll just send you a check. Just stop whining about how the government needs to take my money. Lets cut out the overhead. How much do you need? What do you believe your fair cut of my income is? You know, the money I use to raise my family with? What is the number? How much to get libs off my back and out of my pockets? What is the percentage you want to take from me? Just give me the number and stick to it.
  13. Kangaroo

    Kangaroo Active Member

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    Most those Departments are Bureaucratic sink holes of money and do little overall. Most could be scaled down or merged into other Departments as I posted above streamlining things and reducing Overhead
  14. JBond

    JBond Well-Known Member

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    No. They are essential for us. They are all running at peak efficiency. The government values the peoples money to much to squander it......unless they need to buy some votes with it.
  15. joseephuss

    joseephuss Well-Known Member

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    Why is it "low taxes" vs. "high taxes"? Isn't there a middle ground?
  16. Sasquatch

    Sasquatch Lost in the Woods

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    Somebody better tell the US Labor department that the 2003 Bush tax cuts are supposed to create jobs. They're reporting unemployment rates that are the highest since the year the last tax cuts were passed.
  17. arglebargle

    arglebargle Well-Known Member

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    You guys are parotting the party line. Those are utopian cliches you are spouting. And I don't think you have done much actual investigation of the agencies you are so happy to cut. It is not CONSERVATIVE to make wild, uniformed and wholesale changes to things. You risk a boatload of unintended consequences.

    You like the roads and highways you travel on? You like having your food inspected so that it doesn't end up tainted and poisoning your family? Safety inspections on transport? Disease control and investigation? Etc.

    Sure, there's a lot of waste and excess, and it is good idea to identify and get rid of it. You are just ready to throw the baby out with the bathwater.

    But we do have to start paying of the Chinese Credit Card, don't we....
  18. JBond

    JBond Well-Known Member

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    The Federal government has pulled in more revenue the last six years than at any other 6 year period in our nations history. That was my point. This is despite the worst natural disaster ever in the US. Despite the worst terror attacks in history and the biggest banking scandal in history.

    And personally I am having an outstanding year. Sorry if you lost your job. Go get another one.
  19. joseephuss

    joseephuss Well-Known Member

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    This thread started with how to bring the deficit down. I was told that cutting taxes increases revenues to the treasury, but that has not been shown when looking at the deficit. It just keeps growing. The deficit has grown faster when republican presidents have been in office and pursued cutting taxes. So cutting taxes alone is not the answer or at least has not been proven to be so.
  20. JBond

    JBond Well-Known Member

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    Because that is how it works. I explained it a simply as I can. Go back to school.

    Whats your number? I would be content with a flat consumption tax of 22%.

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