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(MSN)   9 out of 10 economists agree: Republicans have screwed up the budget so badly and left us with so much debt that if we try to pay it down we're all going to die. The other economist chose Dentyne   (msn.com) divider line
    More: Facepalm, United States public debt, Federal government of the United States, Money, Tax, Public finance, Government debt, Deficit, Barack Obama  
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2399 clicks; posted to Politics » on 02 Dec 2020 at 10:33 AM (13 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



Voting Results (Funniest)
View Voting Results: Smartest and Funniest

 
2020-12-02 9:51:20 AM  
16 votes:

bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.


If this Twinkie represents a normal budget from 60 years ago, according to our current budget situation the Twinkie would be 190 feet long and weigh 30,000 metric tons.
 
2020-12-02 10:38:17 AM  
7 votes:

Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?


Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?
 
2020-12-02 10:50:04 AM  
6 votes:

fortheloveof: Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?

We still have California, New York, Illinois, Florida, Ohio, and so on.

Losing Texas might hurt a little but it wouldn't be the end of the USA's economic might.


No selling off Texas would cripple the economy. I think you misunderstand the role of Texas in the heart beat of the interior of the country.

Not liking something isn't the same as not needing something.
 
2020-12-02 10:38:41 AM  
6 votes:
It's simple. We, uh, kill Grover Norquist.

i.ytimg.comView Full Size
 
2020-12-02 10:39:16 AM  
5 votes:

Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?


Sell it for a good price....
 
2020-12-02 10:58:37 AM  
4 votes:
Can't we all just take a moment to appreciate the Dentyne joke? That was immensely satisfying.
 
2020-12-02 10:35:33 AM  
4 votes:
i.kym-cdn.comView Full Size
 
2020-12-02 11:00:09 AM  
3 votes:
Flat tax,
Tax earned and unearned income at same rate.
No gimmicks, write-offs, or deductions.
Tax the nonprofits. You too, Jesus.
Eliminate maximum earnings cap on social security contributions.

And you're well on your way.
 
2020-12-02 10:35:55 AM  
3 votes:
now that Dems hold the whitehouse i'm sure we'll get another tea party to fix this shiat right up.
 
2020-12-02 11:48:42 AM  
2 votes:

AAAAGGGGHHHH: It's simple. We, uh, kill Grover Norquist.

[i.ytimg.com image 850x478]


I say we drown him in a tub.
 
2020-12-02 11:11:40 AM  
2 votes:

Smidge204: NewportBarGuy: I'm not arguing against targeted higher taxes. Not at all. But we have done so much damage that taxes alone won't do it. We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact. At least in the short term. So, the moves we make are going to have to be very carefully done.

Or, rather than merely cutting spending, we instead spend it on things that create more value in the mid to long term.

I don't know what the ROI is for parking billions of dollars worth of military hardware in the desert, but it's probably not as good an investment as actual infrastructure, alternative energy, education, high tech manufacturing, etc. Hell even welfare programs have positive ROI; turns out people spend more and produce more when they're not living hand-to-mouth on a weekly basis.
=Smidge=


Putting Soldiers on 3-6 month shifts of working those infrastructure projects would probably help readiness too.

Also help with accountability of the work.
 
2020-12-02 10:48:47 AM  
2 votes:
The other "economist" was Peter Navarro.
 
2020-12-02 10:33:35 AM  
2 votes:

OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.


We do have a spending problem. We are addicted to Military. Our nation needs to go to military spenders anonymous to overcome it.
 
2020-12-02 8:59:05 PM  
1 vote:

AsparagusFTW: Porkbelly: You are an idiot to think I'm a trumper, which means you can't understand basic English.  Also, if you own a house worth $200,000 and have a $20,000 mortgage you are not in debt.  You apparently are less than a room temperature IQ, probably senile from what I can gather.

Also, you fail at Economics 100.

Also soon to be invisible.

Typical Texan - 6 inches short of manhood.

You are in debt with just a higher valued asset. One way to know if you are in debt......ask yourself this. "If I stop paying this, will I lose the house?" (yes, yes you will)

If that is your only asset and your only debt, then you have a positive net worth.


When you can print your own money to pay the creditors it isn't debt.  The value of the federal government is so much more than most people can grok (I like that word).  The argument that the US is a debtor nation is just stupid.  Not going to entertain this discussion any further.  We are BY FAR the richest nation in the world BY FAR.
 
2020-12-02 1:17:10 PM  
1 vote:
i2.wp.comView Full Size
 
2020-12-02 11:57:39 AM  
1 vote:

Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?


textbooks with ideas from the second half of the 20th century are a good start
 
2020-12-02 11:26:37 AM  
1 vote:

Dr Dreidel: 1.2M cases is 9% of the world's 1.5M fatalities, but that's apples/oranges.


I need a better editor...

// strike that, would you please?
 
2020-12-02 11:24:29 AM  
1 vote:

Rapmaster2000: The other "economist" was Peter Navarro.


The other Harvard academic fraud everyone forgets in favor of Kushner.
 
2020-12-02 11:06:22 AM  
1 vote:

NewportBarGuy: bloobeary: NewportBarGuy: If this Twinkie represents a normal budget from 60 years ago, according to our current budget situation the Twinkie would be 190 feet long and weigh 30,000 metric tons.

A bigger bite is therefore exactly what is required.

In this case, a tax bite.

There's plenty of money out there to run the economy. It just needs to be drained out of the private holding tanks of a select few, and poured back into the hands of the general public.

I'm not arguing against targeted higher taxes. Not at all. But we have done so much damage that taxes alone won't do it. We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact. At least in the short term. So, the moves we make are going to have to be very carefully done. Step one to save SS is absolutely remove the income threshold. That fixes SS for a few decades and we can focus on other stuff.


The problem on the military side is that the things we should cut are, politically, the hardest to cut, and the things we need to seriously invest in are the easiest.

When I was in high school I had a summer job working as a technician doing wiring for missiles that were more than two decades obsolete *then* - and that was in the late 90s. I once asked my boss why we kept making missiles that were never shot at anything and was told to STFU. They are still making those missiles today. They have warehouses full of them.

We are continually making all sorts of defense hardware that even the military says they do not need or want. Whether it be unnecessary tanks and trucks, missiles made for wartime conditions that haven't happened since Korea, or whatever. That's on top of the stuff we DO use (and a lot of that we use unnecessarily because we're involved in countries we shouldn't be, but now have to be or the region goes to shiat). The problem is the unnecessary stuff involves billion-dollar programs that have highly influential defense contractors that make sure to put the jobs all across the country (even when it's less efficient to do so) because it makes it damn hard for Congress to actually cut them. And yes it'll be hard to cut those things because they do involve millions of jobs.

But China is eating our lunch on R&D for next generation, cyber, and asymmetric warfare. They invest lavishly to fight the next war, trying multiple avenues and picking the best ones to move forward. Our government (and our corporations), however, often finds that the easiest thing to cut is R&D, because it doesn't have giant lobbyists behind it. Even when that R&D is done by the same contractors, it's small potatoes compared to the billion dollar boondoggles so they don't try to save it when it's on the chopping block (the ones they do try to save are themselves disasters, like the F35). But R&D is the thing we likely need more than ever. We are also terrible at keeping the cutting edge technologies we do invent, secret - foreign spying means they don't have to invests much, while our networks aren't what they used to be.

We definitely need to cut military spending. My worry is that whenever we do, we're again going to cut what we need the most, so that we can continue to add to the warehouses full of missiles and deserts with tanks that were obsolete ages ago and will never see use. They use up the fruit of labor while adding nothing to the standard of living.
 
2020-12-02 10:58:07 AM  
1 vote:
Yeah, but we knew that.  Just ask the president:

The Trump Depression: The Economy Does Better Under the Democrats
Youtube fn3cTT6O1I4
 
2020-12-02 10:57:29 AM  
1 vote:

Dr Dreidel: Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?

Texas has 9% of the world's COVID cases.

How is Texas going to be successful without TEXAS under control?

// maybe some kind of, I dunno, pooling of funds to achieve a common end
// subject to some guidelines all can agree on (or enough of them)
// and they'll need administrators and bylaws and such, to make it all work
// but at least they won't have THE BIG BAD GOVERNMENT around, right?


Texas is totally into big government. I think you misunderstand Texas politics, if you think otherwise.

There are exactly no states with the Coronavirus under control. 0.

In fact Texas is fifth in current cases of Coronavirus, California, Illinois, Florida, Arizona have more active cases.

If you rank cases by population Texas drops to 27th.
 
2020-12-02 10:48:14 AM  
1 vote:
Guys, sometimes I think a system that incentives short-term gains over long-term health might have some... not good outcomes.  But, on the other hand, that MBA over there disagrees, so who knows?  I mean, LOL what is an externality anyway?  Sounds like some Commie shiat!
 
2020-12-02 10:45:26 AM  
1 vote:
I'm sure the senate will care about debts and deficits again come January. Mind you, not until later in the month on a particular day, probably in the afternoon. Then it'll become really important
 
2020-12-02 10:45:26 AM  
1 vote:

Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?


We still have California, New York, Illinois, Florida, Ohio, and so on.

Losing Texas might hurt a little but it wouldn't be the end of the USA's economic might.
 
2020-12-02 10:43:03 AM  
1 vote:

Rozotorical: Porkbelly: OdradekRex: bloobeary: Paying down the debt becomes easier if we start taxing the hyper-rich at 1950s levels again.

Close the loopholes and institute a wealth tax on everything above a million dollars.

We don't have a spending problem - we have a revenue problem. The GOP tax cut insanity needs to be reversed, and adjusted to reality.

Can we sell Alaska to China and Texas to Mexico?

Texas is the 10th largest economy in the world. How the hell are you going to be successful without Texas?


Real answer. Texas rich people are the biggest funder of republican bullshiat in the country. If we sacrifice their money now, we can avoid their running everything into the ground on an ongoing basis. Also, imagine the country without John Cornyn and Ted Cruz. Without Louis Gohmert and Dan Crenshaw.

The vileness of Texas more than outweighs it's oil money.
 
2020-12-02 10:35:08 AM  
1 vote:
There's a Tridebt joke in there
 
2020-12-02 10:11:02 AM  
1 vote:

bloobeary: NewportBarGuy: If this Twinkie represents a normal budget from 60 years ago, according to our current budget situation the Twinkie would be 190 feet long and weigh 30,000 metric tons.

A bigger bite is therefore exactly what is required.

In this case, a tax bite.

There's plenty of money out there to run the economy. It just needs to be drained out of the private holding tanks of a select few, and poured back into the hands of the general public.


I'm not arguing against targeted higher taxes. Not at all. But we have done so much damage that taxes alone won't do it. We need to cut defense spending by half, but we also have to realize that will have a HUGE negative economic impact. At least in the short term. So, the moves we make are going to have to be very carefully done. Step one to save SS is absolutely remove the income threshold. That fixes SS for a few decades and we can focus on other stuff.

Just saying this is a monumental problem. One that f*ckface Paul Ryan and his budget bullsh*t never dealt with honestly. Because he's a lightweight Ayn Rander.
 
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