USA budget issues

[lem34]

As can be seen, entitlements and interest will absorb all government spending by 2025. But when the CBO did the same sums a decade ago, says Ms Meeker, the critical point was reached in 2060. In short, the fiscal position is deteriorating rapidly. Where then is the appetite for cutting entitlements or increasing taxes sharply?

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And its getting worse by the day

 

[fd24]

Yes, you are correct here; USA needs to tackle its debt issues.

aaaaaaaaaaaah yes for once Cheng I have to agree with you - USA needs to tackle its debt issues big style. Its not going to help if they keep sending troops round the world and being the self appointed police officers of the world. Its not going to help giveing 10 million a day to Israel - No charity begins at home and the USA should tackle their debt issues.

 

[TheJewverine]

If the US wanted to fix the deficit, they would tax the wealthiest citizens at the same rate that they do the poorer ones.

 

[fd24]

If the US wanted to fix the deficit, they would tax the wealthiest citizens at the same rate that they do the poorer ones.

I think you could be onto a winner here jewverine - what percentage would you suggest

 

[VCheng]

aaaaaaaaaaaah yes for once Cheng I have to agree with you - USA needs to tackle its debt issues big style .................... and the USA should tackle their debt issues.

And it will, please rest assured, in the correct manner and at the correct time.

I think you could be onto a winner here jewverine - what percentage would you suggest

How about a flat 17% tax on ALL income?

 

[bubble123]

guyz US aint going any where. There was a thread here on PDF telling exactly why. No matter how much US spends nothing could be or even would be done. As long as dollar rules the world and world's financial capital are in US they can just print unlimited amount of money.

 

[TheJewverine]

I think you could be onto a winner here jewverine - what percentage would you suggest

It has already been proven that the US would be in surplus if the wealthier members of its society were taxed evenly, the problem is wealthy people don't want to be taxed, and seeing as wealthy people are the ones in gov't, that will probably never happen.

Warren Buffet has been quoted as saying repeatedly "Why does my secretary have a higher tax level than I do,when I am a billionaire?"

 

[fallstuff]

First you tell people the economy will bear fruit for years, therefore the rich folks need a tax break for trillions of dollars.

Then the economy is in the sh*thole we should not raise taxes.

Now the sky is falling so we need to cut back on the SS and other progrmas.

Is anybody catching the drift here ?

 

[VCheng]

First you tell people the economy will bear fruit for years, therefore the rich folks need a tax break for trillions of dollars.

Then the economy is in the sh*thole we should not raise taxes.

Now the sky is falling so we need to cut back on the SS and other progrmas.

Is anybody catching the drift here ?

Realistically, both tax increases and spending cuts will be needed to regain balance in the longer term. One or the other by themselves will not suffice. Any to the contrary is a drift that should simply be ignored.

 

[fallstuff]

Realistically, both tax increases and spending cuts will be needed to regain balance in the longer term. One or the other by themselves will not suffice. Any to the contrary is a drift that should simply be ignored.

Taxes going up will be an issue for me personally. But I would like to see that common sense prevail in this country once again. Common sense is what made this country great of all the others.

I frankly don't understand the policy that cutting payroll taxes will somehow help the economy. Nobody knows how this will help the economy, everybody hopes that folks spending their money will somehow help the economy. This is not policy. This is just wishful thinking.