U.S. Debt Ceiling. 31.4 Trillion!

[Buffs35]

until we limit the way the crooks - on both sides - spend the tax revenue, none of this matters.

 

[VikingsGuy]

Take this as you will though the estimate used in the article posted above notes the following:

"The burden of complying with the tax code is staggering, currently estimated to consume 6.5 billion hours at a cost of about $313 billion per year, equal to 1.4 percent of GDP.[1] Most of the burden is due to complicated business taxes that consume the time and energy of entrepreneurs and small business owners as well as massive tax departments at many large businesses. The estimate does not include the cost of tax planning, which is a significant industry on its own. Nor does it include the administrative costs and challenges that have clearly overwhelmed the IRS in recent years. Last year, for instance, the IRS answered only about 10 percent of the 73 million phone calls it received from taxpayers asking for help.[2]"

49.999999% of the tax code is “what is income this year in the US” to place on line #1 of the fantasy of a post card tax return. Flat tax doesn’t change this.

49.9999999% of the tax code is “what can I deduct from income this year in the US” which is never going away.

0.00000001% of tax code is “what rate do I apply to the above.

Flat rates are horrible social policy.

Postage card tax return is a fantasy with less relevance than arguing Unicorn NR shoulder seasons in Delaware.

 

[Sytes]

And I need 25,000 of the 40k workers to make what I got from the one billionaire. That isn't a good ratio for the billionaire if the other 25,000 people start to feel something is unfair to them.

Again, I'm on a different plain than you (and Wllm) with respect to the, "Poor" and the bogeyman "Rich".

Using your comment above... If 25,000 40k salary workers become upset that one citizen paid the SAME amount as 25,000 citizens... I'd say their head is on backwards.

 

[SAJ-99]

We estimate that the reform would increase long-run GDP by 2.3 percent, raise wages by 1.3 percent, and add 1.3 million full-time equivalent jobs.

Not sure I would put any wager on those numbers being right, but simplicity is always better in my view. The core of the problem is there are too many people not making enough money. People see what they want to see in the chart below, but the bottom 60% had less income than the top 1%.

 

[SAJ-99]

I'd say their head is on backwards.

Maybe. But a lot of Americans have their head on backwards these days.

 

[Deleted member 28227]

Again, I'm on a different plain than you (and Wllm) with respect to the, "Poor" and the bogeyman "Rich".

Using your comment above... If 25,000 40k salary workers become upset that one citizen paid the SAME amount as 25,000 citizens... I'd say their head is on backwards.

Which is the logic that brought us red October, the French Revolution, etc

 

[ignorethefringes]

Which is the logic that brought us red October, the French Revolution, etc

So, honest question(s), what are you advocating for exactly? What do you think needs to change?

 

[Handlebar]

The idea that we as a country can not come up with a rational and fair system to pay for the things that we want is absurd. Post card tax returns need not be a unicorn. Devising a fair system is not the problem the problem are politicians with a interest in retaining their power and the ability to enrich themselves. I have come to believe that many of our problems could be fixed by term limits. Y'all don't want princes I don't want Kings and Queens.

 

[Deleted member 28227]

So, honest question(s), what are you advocating for exactly? What do you think needs to change?

Good faith bipartisan budget negations. Mandatory balanced budget, except under emergency situations which must be approved by 2/3 majority of congress.

Allow the Trump tax cuts for personal income taxes to expire in 2025.

Remove corporate tax loopholes. Punish companies that do inversions. More enforcement of monopoly regulations. Increased banking regulations.

Revising military budgets, cutting pork barrel expenditures that happen because "x ship" is built in my district and restrict appropriations to what the branches and DOD actually need. Stop buying tanks

Social security reform including phasing out benefits for high income earners. Perhaps my what you have in savings idea was poorly thought-out maybe you don't get benefits if your top 15 years of AGIs are above the social security tax cap so if you make more than 147,000 in 2022. Provide lots of running room though.

All student loans are federal and capped, make PSLF 10% of loan balance per year served. Expand military service loan repayment.

Tons of little things, which I think most folks could get on board with...

I think it would be interesting to talk with big companies that have employee stock programs and discuss if there is a way to make that a more universal benefit. I think some sort of mandatory stock grants could be an interesting and fair way of dealing with companies like Amazon.

 

[ignorethefringes]

The idea that we as a country can not come up with a rational and fair system to pay for the things that we want is absurd. Post card tax returns need not be a unicorn. Devising a fair system (1) is not the problem the problem are politicians with a interest in retaining their power and the ability to enrich themselves. I have come to believe that many of our problems could be fixed by term limits (2). Y'all don't want princes I don't want Kings and Queens.

Two things:

1. There are too many definitions of fair lol. Everyone pays the same percentage is "fair." Everyone pays the same dollar amount is "fair." Etc.

2. You mean when you want to know the best plan for the current problems we face you don't run to the nearest septuagenarian and ask what they think we should do??? Don't they all get sharper with age? Wisdom and all that?

I'm a fan of term and age limits. I'll tell you outright I don't know what the numbers are, but I wouldn't be upset with something like no more than 4 terms or any individual position or a total combined 10 years in any government position.

 

[Handlebar]

Two things:

1. There are too many definitions of fair lol. Everyone pays the same percentage is "fair." Everyone pays the same dollar amount is "fair." Etc.

2. You mean when you want to know the best plan for the current problems we face you don't run to the nearest septuagenarian and ask what they think we should do??? Don't they all get sharper with age? Wisdom and all that?

I'm a fan of term and age limits. I'll tell you outright I don't know what the numbers are, but I wouldn't be upset with something like no more than 4 terms or any individual position or a total combined 10 years in any government position.

Perhaps I should have said "more fairer." but I get what you mean.
4 terms as a Senator would be 24 years , too long

 

[ignorethefringes]

Perhaps I should have said "more fairer." but I get what you mean.
4 terms as a Senator would be 24 years , too long

Hence the "or total combined 10 years . . ." part.

 

[Handlebar]

Hence the "or total combined 10 years . . ." part.

Gotcha

 

[VikingsGuy]

Two things:

1. There are too many definitions of fair lol. Everyone pays the same percentage is "fair." Everyone pays the same dollar amount is "fair." Etc.

2. You mean when you want to know the best plan for the current problems we face you don't run to the nearest septuagenarian and ask what they think we should do??? Don't they all get sharper with age? Wisdom and all that?

I'm a fan of term and age limits. I'll tell you outright I don't know what the numbers are, but I wouldn't be upset with something like no more than 4 terms or any individual position or a total combined 10 years in any government position.

I am skeptical about term limits - especially when short - as it further shifts power to staff, lobbyists and adminstrative leviathan. Age limits are a no brainer. So, I could live with 15 yrs of cumulative govt elected service at all levels (18 if 2 term president) and age 70 cap (74 if second term president).

 

[Deleted member 28227]

I am skeptical about term limits - especially when short - as it further shifts power to staff, lobbyists and adminstrative leviathan. Age limits are a no brainer. So, I could live with 15 yrs of service (18 if 2 term president) and age 70 cap (74 if second term president).

*must be able to convert a .pdf to .doc

 

[ignorethefringes]

*must be able to convert a .pdf to .doc

Must be able to closely estimate cost of gas in represented state capital, a gallon of milk from Kroger/Publix/Food City/etc., and a bag of rice.

 

[Handlebar]

I am skeptical about term limits - especially when short - as it further shifts power to staff, lobbyists and adminstrative leviathan. Age limits are a no brainer. So, I could live with 15 yrs of cumulative govt elected service at all levels (18 if 2 term president) and age 70 cap (74 if second term president).

Your skepticism of term limits is understandable, there is reason to believe that an entirely different set of problems comes with them. I am not so sure that it shifts power to staff and lobbyist. Staff should change with new folks and the power that the lobbyist have should be somewhat diminished, making deals with someone who isn't going to be around theoretically would not be as lucrative. I will concede that the road to hell is paved with good intention so... However the current system is not serving the American people very well.

 

[VikingsGuy]

*must be able to convert a .pdf to .doc

I am not a big fan of litmus tests, but I absolutely have - zero tolerance for sexual harassment claims. Trump/Clinton/Johnson/Kennedy etc. have no place leading our nation.

 

[Deleted member 28227]

I am not a big fan of litmus tests, but I absolutely have - zero tolerance for sexual harassment claims. Trump/Clinton/Johnson/Kennedy etc. have no place leading our nation.

Dementia screening before you run for office?

As far as term limits... what about longer stints in office so folks aren't fundraising constantly? 10 years for a senator 1 term?

 

[VikingsGuy]

Must be able to closely estimate cost of gas in represented state capital, a gallon of milk from Kroger/Publix/Food City/etc., and a bag of rice.

They must go on TV and explain over the course of 15-20 minutes unscripted how an unemployed 19 yr old living in Arkansas who is good with his hands but not really a “classroom” person should go about getting a job, saving for a house down payment, secure medical insurance, save for kids college and their own retirement in the real world 2023 economy with actual numbers, no platitudes. If they say the word “bootstraps” they get 15 lashes in the parking lot afterwards. They also have to contrast that advice by explaining why a 30 yr old $800k a year hedge fund yo-yo gets to tax-free “carry interest” $50million of equity of a business he just finished moving all the manufacturing jobs to Asia.

And this rant is coming from a lifelong republican and staunch believer in a small govt and the free market. But it is broken. It is not free, and very few have the admission to play.

(And before @Ben Lamb gets a woodie, unions are not the answer, they are the ones who killed the goose 40 yrs ago)