Musk says he can cut 2 trillion from the budget
- Thread starter Tenacious E
- Start date
which is why we need more productive people reproducing
Nothing so thoroughly "looking out for the little guy" than letting a handful of billionaires dictate our democracy!
Word to know and love is kleptocracy.
Word to know and love is kleptocracy.
Those are annual numbers. If you want to go back to 2022, through today, come up with 5-6T in cuts.
hawkeyetraveler
HB Heisman
Cutting 2 trillion can only happen through a combo of:
- Reduced social security/medicare/medicaid
- Eliminate the military
- Default on debt payments or print new money to pay the debt
Biden admin is racking up almost $100 billion in new debt each week since the start of the new fiscal year.
Not just spending, but new debt we’ll carry interest expense on forever. A direct wealth transfer from society to Wall Street.
The Inflation Reduction Act which contributed to inflation, pissed away nearly $1 trillion for clean energy.
Fortunately we have leaders like Elon who wants workers to do 12+ hrs per day and work weekends. That's how you help people have kids.
In fiscal year 2023, the federal government spent $6.1 trillion
source - https://www.cbpp.org/research/federal-budget/where-do-our-federal-tax-dollars-go
Health and Social Security are gonna be the first 2 on the chopping block. Have we talked about the $ in to fund SS having to be cut if the program goes away? Guess we will all get 6.2% back in unneeded taxation.
Also, if we stop paying on the debt, that saves 10%. Based on Trump's history, that is on the table.
source - https://www.cbpp.org/research/federal-budget/where-do-our-federal-tax-dollars-go
Health and Social Security are gonna be the first 2 on the chopping block. Have we talked about the $ in to fund SS having to be cut if the program goes away? Guess we will all get 6.2% back in unneeded taxation.
Also, if we stop paying on the debt, that saves 10%. Based on Trump's history, that is on the table.
1 T over the first 10 years. Since we are playing the long game, come up with 19T in cuts other than clean energy.
Federal funds for localities/municipalities and schools.
So, the rest of us will get 50% to 100% higher property tax bills when that federal money is gone and our cities and counties have no way to make up the difference.
This has been ongoing since the 1980s; only now it will probably get much worse.
Are we sure that his own party can stop him? The Supreme Court has given him total immunity. He can jail anyone who doesn’t comply with his wishes without consequence. He could execute anyone who opposes him just the same.
Welcome to the new America.
I would say 1/4 of current Trump/MAGA voters are participating in some sort of social program.
Hell, a quarter of Iowans are on Medicaid/CHIP.
Hell, a quarter of Iowans are on Medicaid/CHIP.
Hopefully he can team up with Ron Paul. Dr. No is just the guy for the job.
Don't forget the farm subsidies which would be cut.
Got it - I thought we were just talking about handouts. I would enjoy seeing the reactions of all the farmers who voted Trump when the read thet their subsidies have been taken away.
I'm a little fuzzy on how Eloon is going to run the federal budget and satisfy his duties as CEO of Twitter, Tesla, Neuralink, and the Boring Company?
You're too modest.
You're 'fuzzy' on a helluva lot more than that.
And he is top 20 in the world in Diablo IV apparently. Where does he find the time.
Oh im well aware that I'm giving my money to boomers. And they're voting for the guy who will take that money away when I'm ready to retire. The irony is delicious
You mean to say the guy who set the ticking time bomb known as inflation will fiscally screw us again? No way.
If your city:municipality is overspending, your taxes probably will go up.
It seems like a great plan. It will make your local politicians more accountable.
Should taxes be enacted to pay for government services where everyone can see them, and know who pays them, and how much?
Or should government spending be funded through inflation of the money supply, which is simply a hidden and regressive tax?
Not Giving away $100 Billion to our enemies in the Middle East is a start.... F Joe Biden/KamalaWhere does it come from? Using 2021 numbers (they were readily available), we have a budget of 7T
There is 1.6T in discretionary spending, should you consider things like VA benefits and the military "discretionary". About 855B of the discretionary budget is for those two items alone.
Then there is "mandatory" federal spending in the amount of 5.2T. There is about 172B again for the military and VA benefits. Social Security is 2.77T, and Medicare is 1.46T, for a total of 4.23T.
So if you add up 4.23T + 1T, there is 5.23T which is solely the military, VA benefits, social security, and medicare. So if the Trump administration cut every single budget item other than those items, which cannot be done, he would still come up 230B short.
I am not a government budgeting guru, so where does it come from?
Federal Spending: Where Does the Money Go
In fiscal year 2014, the federal government will spend around $3.8 trillion. These trillions of dollars make up a considerable chunk - around 22 percent - of the US. economy, as measured by Gross Domestic Product (GDP). That means that federal government spending makes up a sizable share of all...www.nationalpriorities.org
So we should allow China to export goods to the USA that are undercutting American businesses? Are you aware China subsidizes their exports? Pull your own head out of your ass & educate yourself instead of spewing garbage outta your stink hole!
Key Points about Countervailing Duties:
- Purpose:
- Leveling the playing field: If a foreign government is providing subsidies (such as tax breaks, grants, or low-interest loans) to its domestic producers, it can lead to those goods being sold at artificially low prices in the importing country. This makes it difficult for domestic producers in the importing country to compete.
- Protecting domestic industries: CVDs are used to protect local industries from unfair competition caused by these subsidized imports.
- How CVDs Work:
- If a government believes that imports of certain goods are being sold at unfairly low prices due to subsidies, it can initiate an investigation to determine the level of the subsidy.
- If the investigation finds that the subsidies are indeed harmful to domestic industries, the government may impose countervailing duties on those goods to bring their price back up to a level that reflects the fair market value.
- Examples of Subsidies:
- Direct financial assistance: Governments may provide direct payments to exporters to reduce their costs.
- Tax breaks: Exporters may receive tax exemptions or reductions that reduce their cost of production.
- Government-provided loans: Low-interest loans or loan guarantees may be offered to businesses, giving them an unfair advantage in the global market.
- How Are CVDs Calculated?
- The amount of the countervailing duty is typically equal to the subsidy amount provided by the exporting country. This is determined through a detailed investigation conducted by trade authorities (like the U.S. Department of Commerce).
- Once determined, the countervailing duty is imposed on the imported goods to offset the unfair advantage gained through the subsidy.
- Relation to Anti-Dumping Duties:
- Anti-dumping duties (ADDs) are different from countervailing duties but serve a similar purpose. Anti-dumping duties are imposed when foreign goods are sold in the importing country at a price lower than their normal value, often due to predatory pricing practices.
- Countervailing duties, on the other hand, target government subsidies and are aimed at addressing the effects of those subsidies, while anti-dumping duties are focused on unfair pricing practices like dumping.
Example:
- U.S. and Chinese Solar Panels: A well-known case involved the U.S. imposing countervailing duties on solar panels imported from China. The U.S. government argued that the Chinese government was subsidizing its solar panel industry, making it difficult for American manufacturers to compete. As a result, countervailing duties were imposed to offset the subsidy, raising the price of Chinese solar panels in the U.S.
Countervailing Duty Process:
- Complaint: A domestic company or industry in the importing country files a petition alleging that imports are being subsidized and causing harm to the domestic industry.
- Investigation: The importing country’s trade authority (e.g., the U.S. Department of Commerce) investigates the claim to determine the extent of the subsidy and the injury caused to the domestic industry.
- Determination: If the investigation finds that subsidies are being provided and that they are harming the domestic industry, countervailing duties are calculated and imposed.
- Ongoing Monitoring: After the imposition of the duties, the situation is often monitored, and the duties can be adjusted or removed if circumstances change.
International Trade Agreements:
- Countervailing duties are governed by international trade rules, particularly under the World Trade Organization (WTO) agreements. Countries that believe countervailing duties are unjustified can challenge them through the WTO dispute settlement process.
educate yourself
Key Points about Countervailing Duties:
- Purpose:
- Leveling the playing field: If a foreign government is providing subsidies (such as tax breaks, grants, or low-interest loans) to its domestic producers, it can lead to those goods being sold at artificially low prices in the importing country. This makes it difficult for domestic producers in the importing country to compete.
- Protecting domestic industries: CVDs are used to protect local industries from unfair competition caused by these subsidized imports.
- How CVDs Work:
- If a government believes that imports of certain goods are being sold at unfairly low prices due to subsidies, it can initiate an investigation to determine the level of the subsidy.
- If the investigation finds that the subsidies are indeed harmful to domestic industries, the government may impose countervailing duties on those goods to bring their price back up to a level that reflects the fair market value.
- Examples of Subsidies:
- Direct financial assistance: Governments may provide direct payments to exporters to reduce their costs.
- Tax breaks: Exporters may receive tax exemptions or reductions that reduce their cost of production.
- Government-provided loans: Low-interest loans or loan guarantees may be offered to businesses, giving them an unfair advantage in the global market.
- How Are CVDs Calculated?
- The amount of the countervailing duty is typically equal to the subsidy amount provided by the exporting country. This is determined through a detailed investigation conducted by trade authorities (like the U.S. Department of Commerce).
- Once determined, the countervailing duty is imposed on the imported goods to offset the unfair advantage gained through the subsidy.
- Relation to Anti-Dumping Duties:
- Anti-dumping duties (ADDs) are different from countervailing duties but serve a similar purpose. Anti-dumping duties are imposed when foreign goods are sold in the importing country at a price lower than their normal value, often due to predatory pricing practices.
- Countervailing duties, on the other hand, target government subsidies and are aimed at addressing the effects of those subsidies, while anti-dumping duties are focused on unfair pricing practices like dumping.
Example:
- U.S. and Chinese Solar Panels: A well-known case involved the U.S. imposing countervailing duties on solar panels imported from China. The U.S. government argued that the Chinese government was subsidizing its solar panel industry, making it difficult for American manufacturers to compete. As a result, countervailing duties were imposed to offset the subsidy, raising the price of Chinese solar panels in the U.S.
Countervailing Duty Process:
- Complaint: A domestic company or industry in the importing country files a petition alleging that imports are being subsidized and causing harm to the domestic industry.
- Investigation: The importing country’s trade authority (e.g., the U.S. Department of Commerce) investigates the claim to determine the extent of the subsidy and the injury caused to the domestic industry.
- Determination: If the investigation finds that subsidies are being provided and that they are harming the domestic industry, countervailing duties are calculated and imposed.
- Ongoing Monitoring: After the imposition of the duties, the situation is often monitored, and the duties can be adjusted or removed if circumstances change.
International Trade Agreements:
- Countervailing duties are governed by international trade rules, particularly under the World Trade Organization (WTO) agreements. Countries that believe countervailing duties are unjustified can challenge them through the WTO dispute settlement process.
Like the Clinton's did? & Biden's admin has been trying to put Trump in jail for the past 4 years, not to mention anyone who was near the Capitol building on Jan 6. idiots.
BTW, I'm hoping Trump does what the Dumbocrats threatened, PACK THE COURT!
Don't be a dullard. Read my post. The criticism was on the basis of universal tariffs on all imports. Not strategically placed tariffs in certain industry.
That would have the wonderful impact of jacking prices way up all kinds of stuff everybody has to buy at Wal-mart and the like. If you thought people were angry about inflation, good grief. The people he purports to care most about would be harmed the most by this move.
If anyone can it's him. When he cut like 80% of the Twitter workforce I was highly skeptical. Twitter works as well now as it ever did.Where does it come from? Using 2021 numbers (they were readily available), we have a budget of 7T
There is 1.6T in discretionary spending, should you consider things like VA benefits and the military "discretionary". About 855B of the discretionary budget is for those two items alone.
Then there is "mandatory" federal spending in the amount of 5.2T. There is about 172B again for the military and VA benefits. Social Security is 2.77T, and Medicare is 1.46T, for a total of 4.23T.
So if you add up 4.23T + 1T, there is 5.23T which is solely the military, VA benefits, social security, and medicare. So if the Trump administration cut every single budget item other than those items, which cannot be done, he would still come up 230B short.
I am not a government budgeting guru, so where does it come from?
Federal Spending: Where Does the Money Go
In fiscal year 2014, the federal government will spend around $3.8 trillion. These trillions of dollars make up a considerable chunk - around 22 percent - of the US. economy, as measured by Gross Domestic Product (GDP). That means that federal government spending makes up a sizable share of all...
Sign me up for giving him a chance. I don't feel like anyone's ever TRIED to make the government more efficient. We just spend money and pay for it by "tax the rich" or print more money... That's not good business.
Go ELON go! I don't have to understand it, just get it done.
Getting rid of the fossilized NASA and it's programs will free up 27 billion on day one.
Stop illegal immigration and everything associated with that 180 billion on day one.
Stop illegal immigration and everything associated with that 180 billion on day one.
hawkeyetraveler
HB Heisman
Look at federal spending by bucket. Sure he can cut a bunch of other programs…but that gets you nowhere close. The big money is in these buckets.
