U.S. Debt Ceiling. 31.4 Trillion!

[more_cowbell]

This "family farm" can currently be passed down and pay $0 in taxes

2831 W Shore Dr, Helena, MT 59602 | Zillow

2831 W Shore Dr, Helena MT, is a Single Family home that contains 17533 sq ft and was built in 2013.It contains 10 bedrooms and 8 bathrooms. The Zestimate for this Single Family is $11,184,200, which has decreased by $45,290 in the last 30 days.The Rent Zestimate for this Single Family is...

www.zillow.com

same with this 4,200 acre "farm"

41763 Road H, Cahone, CO 81320 | MLS #178458 | Zillow

This 3201 square feet Single Family home has 4 bedrooms and 4 bathrooms. It is located at 41763 Road H, Cahone, CO.

www.zillow.com

This 5000 acre family farm + 1MM in cattle could be passed down under vikings system with $0 taxes

1954 Highway 26, Guernsey, WY 82214 | Zillow

1954 Highway 26, Guernsey WY, is a Vacant Land home that contains 2500 sq ft and was built in 1930.It contains 3 bathrooms. The Rent Zestimate for this Vacant Land is $1,300/mo, which has increased by $1,300/mo in the last 30 days.

www.zillow.com

The family farm schtick is a joke.

Or Mr. Gates will buy all of them, then lease them back to the family.

 

[Deleted member 28227]

Or Mr. Gates will buy all of them, then lease them back to the family.

Yeah exactly that is the situation we have created, the threat to the family ranch in Montana isn't taxes it's billionaires from Texas.

 

[more_cowbell]

Let's be honest: what people are really talking about here are the Kardashians. They wouldn't be where they are today without a little family seed money

 

[Sytes]

billionaires from Texas.

Ohhh, he didn't! Remember the Alamo!

 

[BigHornRam]

What is clear is that no one wants to actually fix the problem.

Me and Rick want to fix the problem......

 

[SAJ-99]

Me and Rick want to fix the problem......

You don't read my posts do you? I'm not offended, just disappointed.

The CBO ran a report for Congress (which i shared) that said the Government could cut ALL discretionary outflows to ZERO, and we would still operate at a deficit. All financial problems involve income and spending. I agree, we can't keep cutting our salary while maintaining the same level of spending. I guess it is time for the SS recipients to man-up and take one for team USA.

 

[VikingsGuy]

More plainly for the win...now queu Monty Python.

 

[VikingsGuy]

Obviously I'm being over dramatic. In any event, I don't want to be VikingsGuy who would have to tell Kirk Cousins that his kids aren't deserving of all he's earned (jk).

There is an open question as to whether even Kirk himself earned that money . . .

 

[Red-Team 98]

I don’t like the scare tactics
Military Pay / Social Security same old crap every time. Stop the the spending cut the pork and live within your budget. Spend spend spend and expect the people to raise the budget.
Shut the Gov Down but we all know that want really happen it’s a illusion by effecting certain departments that effect the most people to delay payments to get a public outcry. It’s a old tactic and getting older.

Cut EPA and IRS budget don’t give in !
Who needs Armed IRS and EPA agents ?
Shut the Gov Down and let Trump / Lake reopened it in 2025.

 

[Red-Team 98]

Hmm…. Maybe this is why those iBonds y’all talked me into buying were paying such good rates. Perhaps they aren’t so “safe” after all.

No I Bonds is good hedge in the current market ……..smart move. Just wish I could buy more !

 

[Red-Team 98]

I want to agree, but it seems like playing with matches while standing in a pool of spilled gasoline. Eventually you start a fire you didn't mean to. Read something this morning that said "...a deal seems to be made, but we must endure lots of scare pieces about default and even more tedious articles about the trillion-dollar coin." As much as I search for a piece of information that could lead me to this conclusion I can't find it. Until I do, it seems like hope and that makes me uneasy because a lot of people seem to be just ignoring as political posturing.


Don't really have answers. If #2 were ever to be a problem, maybe we revisit GW's plan to invest SS funds into US stocks. If we remember 2020, there was a stupid idea on defaulting only on the US debt China held. That kind of moronic idea comes from someone with zero knowledge of securities and economics. Might buy some time if we tell government workers to stay home without pay (except Congress of course. They still get paid). That is usually step 1. If we don't pay back a maturity or interest on US debt all hell breaks loose. mostly because all of this is a confidence game. Those maturities are the funds that pay SS payments. Who is telling those people they won't get checks until Congress pulls their heads out of their asses?

If I want to buy a bond this morning (Not investment advice), there is what I am being quoted. Market is still not very confident in this not happening.
View attachment 275154

3 Yr CD at 5.05% at Vanguard is a good deal

 

[BigHornRam]

You don't read my posts do you? I'm not offended, just disappointed.

The CBO ran a report for Congress (which i shared) that said the Government could cut ALL discretionary outflows to ZERO, and we would still operate at a deficit. All financial problems involve income and spending. I agree, we can't keep cutting our salary while maintaining the same level of spending. I guess it is time for the SS recipients to man-up and take one for team USA.

I read all you're posts that excuse our governments reckless spending habits. This link here is from 2020. We have a bipartisan spending problem.

Federal Government Blows Past Record Spending in Fiscal 2020

The budget deficit tripled to a record $3.1 trillion—another all-time record.

www.nextgov.com

 

[BigHornRam]

the GOP may not care about causing an armed uprising, but at least they care mightily about ensuring we are armed for our uprising.

I believe even Elon is smart enough to know that when the Chinese Government decides its time to take his assets in China, there's not a $*)Q!#@$ thing he can do to stop it from happening. So in order to keep his assets here in the United States, it's best to align with the guys that aren't afraid of guns.

 

[TOGIE]

I believe even Elon is smart enough to know that when the Chinese Government decides its time to take his assets in China, there's not a $*)Q!#@$ thing he can do to stop it from happening. So in order to keep his assets here in the United States, it's best to align with the guys that aren't afraid of guns.

if mr. buffett and old man munger say elon is a one heck of a smart cookie then i'm on board!

 

[antlerradar]

Yeah exactly that is the situation we have created, the threat to the family ranch in Montana isn't taxes it's billionaires from Texas.

It is my understanding that the N Bar was originally sold because the original family had an inheritance tax issue.
could be wrong,

 

[noharleyyet]

Yeah exactly that is the situation we have created, the threat to the family ranch in Montana isn't taxes it's billionaires from Texas.

 

[SAJ-99]

I read all you're posts that excuse our governments reckless spending habits. This link here is from 2020. We have a bipartisan spending problem.

Federal Government Blows Past Record Spending in Fiscal 2020

The budget deficit tripled to a record $3.1 trillion—another all-time record.

www.nextgov.com

There was a pandemic, but I think our bi-partisan, inter-generational problem is defining “reckless”.

 

[Deleted member 28227]

It is my understanding that the N Bar was originally sold because the original family had an inheritance tax issue.
could be wrong,

Not sure a 45MM property = 'family farm'

either way I'm not shedding a tear for them...

 

[BigHornRam]

There was a pandemic, but I think our bi-partisan, inter-generational problem is defining “reckless”.

Pandemic caused by stupid NIH spending was definitely reckless.

 

[antlerradar]

Not sure a 45MM property = 'family farm'

either way I'm not shedding a tear for them...

I bet it wasn't anywhere near 45 MM when the original family sold it. Of coarse back then inheritance tax was much more brutal.

None of the places you listed would provide much of living to a person actually working the land.

After looking at the last one more closely, I would say that a single family would be okay, but it would be a lot of work and you sure wouldn't get rich.