Contrary to some popular beliefs, this country does NOT have a spending problem, but rather, a Revenue problem.

[cigaretteman]

Two Santa Clauses or How The Republican Party Has Conned America for Thirty Years

Goldwater, however, rejected the "liberalism" of Eisenhower, Rockefeller, and other "moderates" within his own party. Extremism in defense of liberty was no vice, he famously told the 1964 nominating convention, and moderation was no virtue. And it doomed him and his party.

www.commondreams.org

 

[hwk23]

It's a spending problem. Each year since 2020 has been the highest spending to GDP since WW2. 2022 was higher spending to GDP than the great recession. On the other hand, tax receipts to GDP were the 3rd most since WW2 in 2022. So in a year of record high receipts we are still running large deficits, and still not even close to balancing the budget.

 

[HawkeyeHitman]

But people do deserve things. Simply telling people to get another job so that rich people can keep increasing their wealth is counterproductive to those already working too much. Why not simply stop giving rich people everything?

You don’t even have one job. You contribute nothing to society. Just because you exist doesn’t give you the right to others people’s money and property. You’re not even trying to do anything with your life. Have some self respect for yourself.

 

[tumorboy]

It's a spending problem. Each year since 2020 has been the highest spending to GDP since WW2. 2022 was higher spending to GDP than the great recession. On the other hand, tax receipts to GDP were the 3rd most since WW2 in 2022. So in a year of record high receipts we are still running large deficits, and still not even close to balancing the budget.

Those record receipts for revenue are mostly do to inflation not economic growth. The problem is both sides of the ledger.

 

[tumorboy]

You don’t even have one job. You contribute nothing to society. Just because you exist doesn’t give you the right to others people’s money and property. You’re not even trying to do anything with your life. Have some self respect for yourself.

Take a good long look in the mirror bruh. That's an awful lot of self righteous venom to spew. If u don't like Huey just ignore him. You'll be happier and healthier.

 

[TheCainer]

It's expense to import 10's of millions of illegal trash to vote D.

Good Heavens. How do we even respond to something like this????

First off, "illegal" immigrants do not automatically attain the right to vote for "Ds". OK?

They do NOT have any rights to vote for either party, until they attain the legal qualifications to cast a vote as a US citizen, which is something that they attain through "legal procedures". AFTER those qualifications are met, then it is up to both parties to propose a platform which will hopefully be accepted by a majority of either party, regardless of affiliation
,

 

[binsfeldcyhawk2]

Because of neoliberals and a couple of "centrists." The system belongs to the most successful of capitalists, not the masses.

Maybe.

I think it’s because they only get serious about raising taxes when they don’t have the power to do so.

Kind of like the Republicans only get serious about the debt when a D is in the White House.

It’s just a another perpetual talking point

 

[Huey Grey]

You don’t even have one job. You contribute nothing to society. Just because you exist doesn’t give you the right to others people’s money and property. You’re not even trying to do anything with your life. Have some self respect for yourself.

So instead of discussing the thread, you decide to troll. Seems like an admission that your position sucks.

 

[jamesvanderwulf]

Biden said if he were elected he'd make the rich " pay their fair share." He was elected. What happened to all the extra cash coming in from the rich paying their fair share???

 

[Huey Grey]

Biden said if he were elected he'd make the rich " pay their fair share." He was elected. What happened to all the extra cash coming in from the rich paying their fair share???

Republicans.

 

[binsfeldcyhawk2]

Republicans.

Can’t blame republicans in 21-22….D’s were in control

 

[Huey Grey]

Can’t blame republicans in 21-22….D’s were in control

Sure I can. Dems explored multiple ways to increase taxes on the rich but realistically never had a shot due to the Rs having filibuster power.

 

[Here_4_a_Day]

Good Heavens. How do we even respond to something like this????

First off, "illegal" immigrants do not automatically attain the right to vote for "Ds". OK?

They do NOT have any rights to vote for either party, until they attain the legal qualifications to cast a vote as a US citizen, which is something that they attain through "legal procedures". AFTER those qualifications are met, then it is up to both parties to propose a platform which will hopefully be accepted by a majority of either party, regardless of affiliation
,

Yes, everyone follows the rules, don't they!

 

[Jan Itor]

To hell with that.

Let's go back to the top 1950's (Eisenhower) tax rate of 92%.

That works for me.

As long as you pay a 92% tax rate.

 

[onlyTheObvious]

Republicans.

Didn’t stop him from spending.

I won’t spend more if I can’t raise more is what Biden and any real person should say.

 

[binsfeldcyhawk2]

Sure I can. Dems explored multiple ways to increase taxes on the rich but realistically never had a shot due to the Rs having filibuster power.

False Huey. R’s passed the tax cut on a 51-48 vote. Just had to add it to the CR/budget.

Republican-led Congress passes sweeping tax bill

Congress approved a sweeping $1.5 trillion tax bill on Wednesday that slashes rates for corporations, provides new breaks for private businesses and reorganizes the individual tax code.

www.nbcnews.com

Bottom line is the D’s rather talk about it than do it. Quite common in DC.

Wise up Huey

 

[Huey Grey]

Didn’t stop him from spending.

I won’t spend more if I can’t raise more is what Biden and any real person should say.

Social Security, Medicare, Defense. Those are the major costs. Nobody has the appetite to cut any of those.

 

[seminole97]

Simplest thing to do to fight the deficit is to pass a law restoring tax rates to 1999 levels of Clinton Administration.

LOL.

Try fixing the spending to Gingrinch Congress levels instead.
% of GDP, from the White House's historical budget tables:

 

[Huey Grey]

False Huey. R’s passed the tax cut on a 51-48 vote. Just had to add it to the CR/budget.

Republican-led Congress passes sweeping tax bill

Congress approved a sweeping $1.5 trillion tax bill on Wednesday that slashes rates for corporations, provides new breaks for private businesses and reorganizes the individual tax code.

www.nbcnews.com

Bottom line is the D’s rather talk about it than do it. Quite common in DC.

Wise up Huey

Rs used their reconciliation for rich tax cuts. Dems used theirs for stuff like infrastructure. You don't see the vast difference in priorities?

 

[Tom Paris]

It's a spending problem. Each year since 2020 has been the highest spending to GDP since WW2. 2022 was higher spending to GDP than the great recession. On the other hand, tax receipts to GDP were the 3rd most since WW2 in 2022. So in a year of record high receipts we are still running large deficits, and still not even close to balancing the budget.

Sigh. Case in point.

 

[binsfeldcyhawk2]

Rs used their reconciliation for rich tax cuts. Dems used theirs for stuff like infrastructure. You don't see the vast difference in priorities?

Oh Huey…they could have included the “pay for” aka tax increase in the package….if they wanted to…which they didn’t.

Much better to pretend the R’s prevented them so they could assuage their gullible base.

 

[onlyTheObvious]

Social Security, Medicare, Defense. Those are the major costs. Nobody has the appetite to cut any of those.

Pity they don’t have the appetite to cut anything.

Dems can’t even propose lifting the earnings cap on social security?

Dems can find a single Republican subsidy to cut?

Biden seems to have no issues using executing orders to spend billions he doesn’t have.

 

[Tom Paris]

Can’t blame republicans in 21-22….D’s were in control

You post this repeatedly and it’s BS. You. Won’t. Learn.

Zero Republicans would go for it. Along with a member who is no longer a Democrat and another member who is constantly rumored to leave the party. There’s also a thing called a filibuster that you just ignore whenever you want to both sides crap. 100% of Republicans are for reducing taxes on the wealthy. They’re also for hurting the IRS which keeps them from collecting hidden revenue from wealthy tax cheats. It’s on Republicans, dude.

They couldn’t care less about the middle class. Their votes make it obvious.

 

[binsfeldcyhawk2]

Rs used their reconciliation for rich tax cuts. Dems used theirs for stuff like infrastructure. You don't see the vast difference in priorities?

Oh…Congress gets 3 reconciliation bills a year. That gave D’s 6 shots while they were in control. Guess it wasn’t a priority.

It is for them now that R’s have the house…weird 😂

 

[Tom Paris]

Oh Huey…they could have included the “pay for” aka tax increase in the package….if they wanted to…which they didn’t.

Much better to pretend the R’s prevented them so they could assuage their gullible base.

You should have just answered no to his question.

 

[Huey Grey]

Oh Huey…they could have included the “pay for” aka tax increase in the package….if they wanted to…which they didn’t.

Much better to pretend the R’s prevented them so they could assuage their gullible base.

Not really. Two Republican leaning Dems stopped it. And yes the Rs helped to stop this. Let's get that nonsense out of the way. Just one could nuke it all. They held this threat with every bill the Dems proposed. Even the bills they later tried taking credit for. Talk about gullible bases.

 

[binsfeldcyhawk2]

You post this repeatedly and it’s BS. You. Won’t. Learn.

Zero Republicans would go for it. Along with a member who is no longer a Democrat and another member who is constantly rumored to leave the party. There’s also a thing called a filibuster that you just ignore whenever you want to both sides crap. 100% of Republicans are for reducing taxes on the wealthy. They’re also for hurting the IRS which keeps them from collecting hidden revenue from wealthy tax cheats. It’s on Republicans, dude.

They couldn’t care less about the middle class. Their votes make it obvious.

They didn’t need republicans to pass it through reconciliation Tom.

That’s how R’s got the tax cut through 51-48.

Wise up and don’t automatically regurgitate Dem talking points

 

[Huey Grey]

Oh…Congress gets 3 reconciliation bills a year. That gave D’s 6 shots while they were in control. Guess it wasn’t a priority.

It is for them now that R’s have the house…weird 😂

It's only two shots since revenue can be used just once a year. And the Rs and SineManchin nuked both efforts.

 

[Huey Grey]

Pity they don’t have the appetite to cut anything.

Dems can’t even propose lifting the earnings cap on social security?

Dems can find a single Republican subsidy to cut?

Biden seems to have no issues using executing orders to spend billions he doesn’t have.

Certainly they could have proposed lifting the earnings cap. But the Rs and the two Republican leaning Dems would have just nuked it.

And what Republican subsidies can be cut that would amount to more than a rounding error? What Dem subsidies for that matter?

 

[binsfeldcyhawk2]

It's only two shots since revenue can be used just once a year. And the Rs and SineManchin nuked both efforts.

My bad 2….so you’re saying the D’s tried to repeal the Trump tax cuts twice? Did it ever come up for a vote in the senate because I can’t find it.

 

[Huey Grey]

My bad 2….so you’re saying the D’s tried to repeal the Trump tax cuts twice? Did it ever come up for a vote in the senate because I can’t find it.

Dems tried to increase taxes on rich people in practically every bill: infrastructure, green initiatives, inflation reduction act, you name it. You can Google it. Nearly every spending bill was to be offset with rich tax hikes. So yes, this would have amounted to a Trump tax cut repeal.

 

[thewop]

Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently.



Introduction and summary

The need to increase the debt limit1 has focused attention on the size and trajectory of the federal debt. Long-term projections show2 that federal debt as a percentage of the U.S. economy is on a path to grow indefinitely, with increased noninterest spending due to demographic changes such as increasing life expectancy, declining fertility, and decreased immigration and rising health care costs permanently outstripping revenues under projections based on current law. House Republican leaders have used this fact to call for spending cuts,3 but it does not address the true cause of rising debt: Tax cuts initially enacted during Republican trifectas in the past 25 years slashed taxes disproportionately for the wealthy and profitable corporations, severely reducing federal revenues. In fact, relative to earlier projections, spending is down, not up. But revenues are down significantly more. If not for the Bush tax cuts4 and their extensions5—as well as the Trump tax cuts6—revenues would be on track to keep pace with spending indefinitely, and the debt ratio (debt as a percentage of the economy) would be declining. Instead, these tax cuts have added $10 trillion to the debt since their enactment and are responsible for 57 percent of the increase in the debt ratio since 2001, and more than 90 percent of the increase in the debt ratio if the one-time costs of bills responding to COVID-19 and the Great Recession are excluded. Eventually, the tax cuts are projected to grow to more than 100 percent of the increase.

Tax cuts initially enacted during Republican trifectas in the past 25 years slashed taxes disproportionately for the wealthy and profitable corporations, severely reducing federal revenues.

Show me the government is running lean and I'll believe that spin. Until then this is just propaganda for the fiscally irresponsible.

 

[Huey Grey]

Show me the government is running lean and I'll believe that spin. Until then this is just propaganda for the fiscally irresponsible.

It depends on the area. In military spending the government is super fat. But for stuff like infrastructure and social programs, it is lean af.

And let's get real. You could be given links, charts, graphs, and everything else but would still claim government bloat.

 

[tarheelbybirth]

I refuse to believe the problems in our country are the result of not giving the government enough of our money.

They’re getting enough of YOUR money. But you keep voting for the people who make sure the govt doesn’t get THEIR money. Why do you do that?

 

[tarheelbybirth]

Show me the government is running lean and I'll believe that spin. Until then this is just propaganda for the fiscally irresponsible.

And that’s just f’n stupid. If that’s your stance then you have zero business bitching about the debt. You want a “lean” govt? Get in there, bite the bullet, and cut spending. Take the hits. The idea that you get “lean” by going into debt is moranic.

 

[Timelessness]

They’re getting enough of YOUR money. But you keep voting for the people who make sure the govt doesn’t get THEIR money. Why do you do that?

We have progessive rates, and very progressive tax collection.

The 90-95th percentile pay roughly the same share of income taxes that they earn in income, the 0-90th percentile pay less as a share of taxes than they earn in income. The top 5% and 1% pay significantly higher shares of income tax than they earn in income:

 

[tarheelbybirth]

We have progessive rates, and very progressive tax collection.

The 90-95th percentile pay roughly the same share of income taxes that they earn in income, the 0-90th percentile pay less as a share of taxes than they earn in income. The top 5% and 1% pay significantly higher shares of income tax than they earn in income:

The top 1% don’t make their money off a paycheck.

 

[binsfeldcyhawk2]

Dems tried to increase taxes on rich people in practically every bill: infrastructure, green initiatives, inflation reduction act, you name it. You can Google it. Nearly every spending bill was to be offset with rich tax hikes. So yes, this would have amounted to a Trump tax cut repeal.

They didn’t try very hard

Democrats ran on undoing Trump's tax cuts for the rich. But they're here to stay.

Sinema slammed the brakes on Democratic efforts to unwind the Trump tax law. Now Democrats may not be able to revisit the law until 2025.

www.businessinsider.com

 

[Tom Paris]

As long as you pay a 92% tax rate.

That’s not what made America great, Jan.

 

[Tom Paris]

They didn’t try very hard

Democrats ran on undoing Trump's tax cuts for the rich. But they're here to stay.

Sinema slammed the brakes on Democratic efforts to unwind the Trump tax law. Now Democrats may not be able to revisit the law until 2025.

www.businessinsider.com

The first sentence of that headline is about a non-Democrat, who is clearly bought.