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Post by musher on Aug 27, 2016 11:13:13 GMT -6
The wars MUST be a huge part of your debt. How could they not be. All that stuff is expensive and getting it half a world away adds to the costs.
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Post by bblwi on Aug 27, 2016 11:32:17 GMT -6
If you look at modern political history the deficits or non balanced budgets are equal opportunity situations for each party. The Dem's typically choose to tax at higher levels to pay for the debt or reduce deficits while the GOP typically chooses to borrow more money. This last Dem administration has chosen the more typical GOP tactic of borrowing more funds and I guess with low interest rates they feel that is better than raising taxes both economically and politically.
Bryce
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Post by trappincoyotes39 on Aug 29, 2016 19:54:54 GMT -6
Tax rates have went up under Obama though correct?
Also musher a lot of the debt is Social security and Medicare lots and lots of money there. We are borrowing to,Paul or all of these 2 as well. When Obama leaves we could be upwards of 70 percent of GDP in debt, we keep borrowing for entitlements we will see our debt closer to 80-85 percent of GDP.
also what has Obama care cost the US tax payer? As the prices have not been confined or gone down in any way,shape or form.
Something has to be done and soon.
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Post by bblwi on Aug 29, 2016 21:19:28 GMT -6
Show me what tax rates have gone up? I still do taxes and I have not seen rate increases in the last 7 years. The income level to reach certain rates goes up with inflation and with wage stagnation many are actually falling into lower brackets then the were in the past.
The last 6 candidates for the president have all stated no change to SS and Medicare and that is GOP and Dem and includes the current candidates. If entitlements are a major concern than change there will come very hard. The only real way to get rid of deficits and debt is to spend less, tax more and lower entitlements and it is really hard for the citizens of this nation to face that reality so many choose not to and find others to focus on or blame.
Bryce
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Post by PamIsMe on Aug 29, 2016 23:06:31 GMT -6
I found this interesting: When the federal government spends money on mandatory and discretionary programs, the U.S. Treasury writes a check to pay the program costs. But there is another type of federal spending that operates a little differently. Lawmakers have written hundreds of tax breaks into the federal tax code - for instance, special low tax rates on capital gains, and a deduction for home mortgage interest - in order to promote certain activities they deem beneficial to society. In fact, tax breaks function as a type of government spending, and they are officially called "tax expenditures" within the federal government. When the government issues a tax break, it chooses to give up tax revenue for a specific purpose - so both spending and tax breaks mean less money in the U.S. Treasury, and both reflect spending priorities laid out by Congress in various pieces of legislation. Tax breaks are expected to cost the federal government $1.22 trillion in 2015 - more than all discretionary spending in the same year. www.nationalpriorities.org/budget-basics/federal-budget-101/spending/Let's not get rid of any tax breaks though:-( Pam
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Post by trappnman on Aug 30, 2016 6:31:58 GMT -6
the devil is indeed in the details (or facts)
one thing that has kept Lori and I together for over 30 years- is we don't argue about something that can be easily proven one way or another.
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Post by bblwi on Aug 30, 2016 13:44:25 GMT -6
There are some nations like China who are close to 100% in debt or more and that is a scary issue for those of us who export heavily to that nation. It is interesting that the Chinese choose not to tax too much but they encourage and almost force high rates of personal savings as the Chinese are great savers and that way the government can use those funds to continue to fund significant government programs like housing etc. which with stagnation in wages and a soon to be labor shortage and less savings is putting China at a vulnerable place economically. If they falter like the Russians have it will make the current sanctions on Russia look like a Sunday School Picnic by comparison and many nations will find their economies slowing down dramatically. When 1.3 billion people cut spending by say 20% that is like 260 million people buying nothing at all.
Bryce
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Post by trappincoyotes39 on Aug 30, 2016 19:54:02 GMT -6
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Post by PamIsMe on Aug 31, 2016 0:01:15 GMT -6
The top marginal federal income tax rate increased from 35% to 39.6%
The top marginal tax rate on long-term capital gains increased from 15% to 20% (not 28%).
The top marginal tax rate on dividends increased from 15% to 20% (not 39.6%).
Estate taxes increased from 35% of an estate's value in excess of $5,120,000 (in 2012) to 40% of the value above $5,340,000 (in 2014).
It's important to note that the increase in marginal tax rates for federal income tax, capital gains, and dividends affected only those persons with taxable incomes over a $400,000 (single)/$450,000 (married) threshold. It's also important to note that the previous estate tax rate of 0% was a special rule that applied only to the estates of persons who died in 2010 (the estate tax has since been increased to 35% for those who died in 2011 and 40% for those who died in 2012 and thereafter), and even today an estate tax filing is required only for estates with gross assets in excess of $5 million (indexed for inflation).
So, some taxes did increase but it didn't affect most of us.
Pam
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Post by trappincoyotes39 on Aug 31, 2016 4:49:40 GMT -6
Pam did you look at the affordable LOL health care taxes mixed in? How do these not effect the working class?
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Post by trappnman on Aug 31, 2016 6:09:14 GMT -6
I could post on how the Affordable Health act has improved peoples lives, and given 40 million insurance- but those would be facts. And we all know TC and facts-
so.
Health Insurance = good
trying to repeal it 54 times at the cost of millions = bad
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Post by bblwi on Aug 31, 2016 19:45:02 GMT -6
Many of those tax rate increases were set in motion even before the Obama administration came to office. Several were passed during the Bush administration and the rates rose after the sunsets. These are still far below the rates of the 1960s and 1970a when our economy was growing well also.
If tax rates are the issue then we should be having 6% growth rates and 0% UE based on the rates 40 years ago. We all know that is not a reality and neither is continually lowering rates at the beck and call of those who just want lower rates. One of the advantages in a global economy that many other nations have (most developed nations) is that they have survived and grown in higher tax and more regulated environments and have learned some efficiencies that we have not had to put into place in the USA. It is interesting that many US firms seek to move offshore to be competitive and many foreign firms buy here as they can do very well.
Bryce
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Post by trappincoyotes39 on Sept 1, 2016 18:40:37 GMT -6
Tman you skipped right on by all the taxes created by the so called affordable health care act, why?
The numbers it has he,PED and will help over the next 4-6 years will go down and not up. More and more cams ones dropping out and higher and higher rates in many states, their are 1000 percent facts and not fairy tail. We have a very large percentage of young people who have not bought in like they thought they would. Many are covered under mom and dads plans through work until age 25-26 so no need. Then many are willing to gamble with good health and if they get hurt or sick we will still be covering them just like other uninsured people. Because that is the law.
Bryce tax rates are the issue, many foreign people buy into our country because many of them are getting deferred taxes, again that is a fact as well. They play the game will on their end, the business moves about to other family members and the deferred taxes keep getting deferred. They have their own game to play here in the USA as well as the so called rich Americans.
How many people own motel,hotels, and gas stations that are from India and other countries? Think that is just their trade by nature? No they see the advantages too them and make the system work.
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Post by PamIsMe on Sept 2, 2016 0:16:22 GMT -6
"How many people own motel,hotels, and gas stations that are from India and other countries? Think that is just their trade by nature? No they see the advantages too them and make the system work."
I saw the response below to someone questioning big tax breaks foreigners get when buying small businesses in he us. In spite of the rumors, The truth is they don't.
"I've also seen a lot of foreigner owned businesses ... C-stores, restaurants, motels ... in our local marketplace that are successful, if the measure of success is that they have survived for awhile.
But none of these businesses came easily for them. Even with pooled capital or money from other family members, every one of these businesses was labor intensive ... and The entire extended family pitched in to make it a success with long hours and very low pay. I've seen restaurant families that considered the whole family an "owner", hence they didn't work for an hourly wage. Their compensation was a place to live (in the apartment upstairs, along with the rest of the extended family, or crammed into the "owner's apartment" in a motel) and food. Along with a very modest amount of cash for necessities, many of these people have nothing else to show for their efforts except seeing the business build up and look forward to better prospects for their children/grandchildren ....
Few people who don't see this as an opportunity here in the USA to better themselves would work this hard for so little ROI or personal income. I used to have long chats with a wonderful gentleman from Cuba who managed to bring his whole extended family here to the USA, and was highly vocal about the advantages of our capitalism compared to his homeland. His children started working in his little sandwhich shop as soon as they were able and they knew that this was their chance for success because Mom and Dad told them so every day. In the slack times of his restaurant, he taught his children to be computer programmers and repaired computers. They had no spare time among the family six days per week. His proudest moment was the day he got his USA citizenship. Sad to report that he developed cancer some months afterwards and passed away, but his children and widow are able to support themselves on the computer business that he started, and proud that they accept no assistance."
I believe that is the truth. We have two restaurants owned by "foreigners" in our little town. Rumors have flown for years what big breaks they get. People don't seem to realize how hard they work. You never go in one of them that you don't see Dad, Mom, son, daughter and other relatives working. they came for a better life for their kids, and they are making it happen without any help from the government.
Cheers, Pam
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Post by trappincoyotes39 on Sept 3, 2016 8:03:06 GMT -6
Pam in some accounts it comes down to what visa they have as well. Sure they all pay income taxes but some visas are exempt from paying SS and Medicare taxes.
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Post by trappnman on Sept 3, 2016 8:32:19 GMT -6
why should someone from another country, on a visa, pay for benefits that he is unable to use?
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Post by trappincoyotes39 on Sept 3, 2016 10:51:29 GMT -6
Good point Tman, whine how many of these shop owners have that type of visa? Hence the changing of legal names on these business every so often and yes it happens and that is fact.
As long is you brought up that outstanding point on why should someone who is not going to,use it not pay it, why should I and millions of others pay for illegals in this country who are breaking the law and covering them with social programs?
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Post by redsnow on Sept 3, 2016 17:12:51 GMT -6
I hate to interrupt the conversation, but if we're talking about "realities", one thing for sure, Ole Corrupt Clinton can't remember much! Did I just read where Hillary said over 2 dozen times, during a 3 hour interview that she said: "I do not recall" Now that's just exactly what we need in a President, NOT! And we often here about being "transparent". My butt!
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Post by trappnman on Sept 4, 2016 6:16:39 GMT -6
what did you do at 1 oclock, July 9th, 2010?
release the tax returns, showing millions in debt to the Bank of China, millions in debt to other overseas banks, showing hisi ncome to make him a phony billionaire- and we will talk about transparentcy
I truly could give a rats arse about the emails- all smoke and no pudding
compare that to a sociopath who truly borders on the insane?
compare Trump- who was convicted of discrimination, was involved in over 35000 lawsuits, most for non payment of services and goods, who has his employees LIE to ICE, who was fined for importing illegal workers, whos filed bankruptcy SIX FREAKING TIMES........
to Hillarys record.
its a no brainer UNLESS- white power is your thing
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Post by redsnow on Sept 4, 2016 7:10:38 GMT -6
Friday, July 9th, 2010 I was here at work. Looked like there was a thunderstorm brewing in the North-West, I ran out and fed the dog and rolled up the car windows, back inside at 01:05 pm!
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