The ship is still slowly but gradually sinking. Democrats want to bail faster. Republicans want to put steerage class into the water. I suggest that those aboard step onto the iceberg, and while we put a patch in place to plug the leak.
That is, pay the national debt with phony money, not borrowed, since much of it is borrowed from ourselves and we'd benefit, despite the inflation. Since most dollars are held outside the U.S., those who've profited from our import tax sheltering share our pain.
Secondly, take tax revenue from ALL goods and services bought within the U.S. borders, and exempt those from without. We take the jobs back. Remove the other taxes on U.S. citizens below half or a million in income.
Really, then how do you explain the individual tax income as compaired to GDP for the same years? ------------------------------------------------------------------------ ludvig1-2009 says: If a business were losing money would they cut their income? I don't think so. That is what the Congress has done to the government. Proof: Top marginal tax rates under the presidents Ike 92% ------------------- Average 7.6% per year JFK 91% ------------------- Average 7.9% per year LBJ 91% ------------------- Average 7.5% per year Nixon 77% ----------------- Average 8.4% per year Ford 70% ------------------ Average 7.7% per year Carter 70% ---------------- Average 8.4% per year Reagan 69.12% ------------ Average 8.4% per year Bush One 31% -------------- Average 7.9% per year Clinton 39.6% ------------- Average 8.8% per year Bush Two 35% -------------- Average 7.9% per year Obama 35% It is a revenue problem after all. If you want government to act like a business, you need to increase revenue. ---------------------------------------------
Did you notice that the tax revenue from individuals have never varied much no matter what the marginal rates were. In fact the average tax revenue as compaired to GDP from Bush at a 35% marginal rate is higher than Ike's was at 91%? It's the spending stupid!
Another token gesture, like trying to repeal health care 31 times. It requires the House and Senate to pass their OWN budgets, but they don't have to agree, they still get paid.
Congress still gets paid no matter what, and claiming they won't is a hoax that is embarrassing to watch.
It is illegal for Congress to change their own rate of pay during session as per the 27th Amendment.
All that they are doing is putting the money aside until later. Considering all of the sweetheart deals most of them have with the banksters, it's a safe bet they won't be hurting for cash until then.
In the mean time, they'll run up more favors that they owe to the banksters, which sure won't help the taxpayers.
I am still awaiting those ideas that are more effective than the "cliff" was. That is they approach $500B/year with some across the board spending cuts.
The Houses pass "their own" budgets is one. Another is the salary is not forfeited but just kept in escrow, as is Congressmen rely on their official salaries for survival. And eventually, they'll get paid what's owed no matter what.
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That is, pay the national debt with phony money, not borrowed, since much of it is borrowed from ourselves and we'd benefit, despite the inflation. Since most dollars are held outside the U.S., those who've profited from our import tax sheltering share our pain.
Secondly, take tax revenue from ALL goods and services bought within the U.S. borders, and exempt those from without. We take the jobs back. Remove the other taxes on U.S. citizens below half or a million in income.
That floats the boat.
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ludvig1-2009 says: If a business were losing money would they cut their income? I don't think so. That is what the Congress has done to the government. Proof:
Top marginal tax rates under the presidents
Ike 92% ------------------- Average 7.6% per year
JFK 91% ------------------- Average 7.9% per year
LBJ 91% ------------------- Average 7.5% per year
Nixon 77% ----------------- Average 8.4% per year
Ford 70% ------------------ Average 7.7% per year
Carter 70% ---------------- Average 8.4% per year
Reagan 69.12% ------------ Average 8.4% per year
Bush One 31% -------------- Average 7.9% per year
Clinton 39.6% ------------- Average 8.8% per year
Bush Two 35% -------------- Average 7.9% per year
Obama 35%
It is a revenue problem after all. If you want government to act like a business, you need to increase revenue.
---------------------------------------------
Did you notice that the tax revenue from individuals have never varied much no matter what the marginal rates were. In fact the average tax revenue as compaired to GDP from Bush at a 35% marginal rate is higher than Ike's was at 91%? It's the spending stupid!
In all nations where the Government becomes the Enemy eventually Ceases to Exist.
I witnessed the Raise of the American Empire.
Now, I am witnessing the (long painfull) Fall of the American Empire.
Someone once said "We are our Only Worst Enemy"
Oh man! The virtues and weaknesses of a Democracy.
Is there a point of 'No Return' in Global Warming?
I guess, we need to not even think about it.
It is illegal for Congress to change their own rate of pay during session as per the 27th Amendment.
All that they are doing is putting the money aside until later. Considering all of the sweetheart deals most of them have with the banksters, it's a safe bet they won't be hurting for cash until then.
In the mean time, they'll run up more favors that they owe to the banksters, which sure won't help the taxpayers.
Talk about a lame, childish gimmick.
I am still awaiting those ideas that are more effective than the "cliff" was. That is they approach $500B/year with some across the board spending cuts.
The Houses pass "their own" budgets is one. Another is the salary is not forfeited but just kept in escrow, as is Congressmen rely on their official salaries for survival. And eventually, they'll get paid what's owed no matter what.