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The deficit is over a trillion dollars a year. (1 Viewer)
- Thread starter timschochet
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Politician Spock
Footballguy
That's exactly what an incremental tax system is designed to do. The richer you are the more you get taxed, making you less rich than you were before the taxes.
It's like you're debating from some imaginary world you exist in where our tax system does not exist.
Depends on the tax. Taxes on profits typically get passed on to the price of the products because all producers of the product are subject to the tax. But taxes on hoarded wealth won't cause price increases on the wealth assets because only those hoarding the wealth are subject to the tax. The vast majority of the population invested in the same wealth, but not subject to hoarded wealth taxes don't experience the tax burden at all. There may be a small insignificant bump at best.
I'm not going to type out what wealth distribution is, and how it is real, given you probably won't read what I type anyway. So if you are interested in learning, here it is: https://en.wikipedia.org/wiki/Distribution_of_wealth
Again, it's like you aren't even aware of the reality you live in. Again, if you are interested: https://www.investopedia.com/terms/i/incremental-tax.asp
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Politician Spock
Footballguy
Because the economy needs an increase in currency in circulation in order to grow. This is accomplished by government printing and spending more than it brings in via taxes.
The US has a dumb process of passing the job of printing to the Fed and then borrowing what they print, but this is essentially a wash given the interest the Fed earns after their operational costs is handed back to the US.
Stealthycat
Footballguy
and I don't like it now, and if the left have their way and try to make the rich pay for everything I'll hate it even more - but at least we agree it IS discrimination
lets jump to 50 trillion then - great idea ? give every American $10,000 each, or $50,000 each ... just imagine how "great" that'd be huh ?
tommyGunZ
Footballguy
Stealthycat
Footballguy
I'm a pretty simple guy really ..... I see a Fed Govt that functioned well through WWI and WWII and Great Depression, civil rights, Vietnam, Korea .... cold war ........ and never did it go double digit trillions in debttommyGunZ said:
This 20 trillion in 12 years ..... I'm not a smart man, but I can see spending is the problem
Politician Spock
Footballguy
$20,000 on a hammer.... $30,000 on a toilet seat.... it's already happening. It's just not going to those who need it.
Stealthycat
Footballguy
Politician Spock
Footballguy
Depends on who has been elected. Yesterday they told me to drink bleach and shove a lamp up my ###.
Rich Conway
Footballguy
Well this part is just flat out untrue. You're supposed to inject it, not drink it.
Politician Spock
Footballguy
Stealthycat
Footballguy
no, they didn't say that at all, CNN and left lying media did
Obama added 9 trillion in 8 years, Trump was on pace with that and then covid19 blew up and 9 trillion in 8 looks easy :( GOP/DNC .... this Fed Govt is going to spend 3-5 Trillion more a year than they bring in - that is now acceptable
The Commish
Footballguy
Correct...he said our doctors needed to research internal UV light treatments to the body and the possibility of injecting disinfectants into the body. If you think that PS's comment isn't a sarcastic version of the truth that's a you problem. My three year old knows better than to go anywhere near the disinfectants in our house.Stealthycat said:
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The Commish
Footballguy
And it doesn't escape me that you say "Obama" added 9T in 8 years but "this Fed Govt" (GOP/DNC) is going to spend 3-5 Trillion...at least be intellectually honest and label them accurately in both cases...it's either Obama/Trump or "GOP/DNC" in both instances. Bias isn't being shown here at all...nope...not at all.Stealthycat said:
Stealthycat
Footballguy
what was said and was was reported/twisted isn't the same
typical of how things are spun in the liberal world
The Commish
Footballguy
I know...that's why I clarified and pointed out what he really said. I know because I watched it live on CSPAN. The White House clearly sees his comments as an issue or they wouldn't be contemplating pulling him from doing more of these updates.
Stealthycat
Footballguy
what is said was twisted and turned by CNN and liberals and is just more hate and division
The General
Footballguy
It’s his own words. Then he said he was being sarcastic. Then he said he was not speaking to Birx (he was).
The Commish
Footballguy
I acknowledged that was probably the case (don't know, don't watch them) and why I felt it was worthwhile to correct it and point out what he really said.
jm192
Footballguy
I genuinely don't think he meant "let's try injecting bleach and see what happens."
I *think* he was trying to say "This disinfectant stuff kills the virus in minutes on my counter top. Why can't there be something that kills the virus in 5 minutes inside the body? Why doesn't it work like that?"
And, I can forgive the President for not understanding why wiping a virus off a counter is easier than killing a Virus that has replicated in human cells.
Then comes the sarcastic comment. Whatever it was, it sure wasn't sarcasm. And he was clearly speaking to Birx.
The MSM is quick to spin his words. But he doesn't help himself. It's pretty easy to see how this comes across as "Injecting Lysol should do the trick."
I've come to the conclusion that CNN doesn't hate him. In fact, they love him. CNN needs viewers and clicks. And Anti-Trump material brings it in droves.
Trump--I think honestly loves it. I think he feels his character got him elected. And being on CNN so he can talk about how they're lying and spinning--that's to his benefit. So he doesn't care to be in these situations--because it just fits his narrative. And it's just one giant circus.
fantasycurse42
Footballguy Jr.
You guys are overthinking this. With GDP growth being over 5% for 10 years straight, this will easily work itself out.
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sho nuff
Footballguy
Here is the problem...I can forgive him for not understanding anything medical. its painfully obvious he doesn't understand a great number of things despite his claims that he has such a great brain and even doctors tell him how good he is at all of it...that is just his narcissism.
The problem is he then chooses to speak the quiet parts out loud. There was no business and no reason he should be suggesting something like that to doctors...and no reason to do so publicly.
The next problem was when he is called out for how bad that was.(and called out by using his own words, not spinning them...but using his own words)...the first defense was "oh, he was just asking if that could be done not suggesting anything". Then less than 24 hours later he made the bogus claim he was just being sarcastic. Then a little later claims he wasn't even addressing Birx.
The MSM used his actual words...it wasn't spin. Yeah, there was also hyperbole where they had to warn people not to drink bleach...though, that is more due to, you know, there are a lot of crazy and not very smart people in this country (like someone who would ingest fish tank cleaner).
Ive come to the conclusion that it has nothing to do with CNN. It has to do with a man unqualified for his job...speaking about other things he for sure is highly unqualified to speak about. And doing so over and over and over. He claims anyone critical of him is lying and spinning...because his ego can't take that he just doesn't know what he is talking about. See again the now deleted tweets about the Noble Prize that some journalists he doesn't like had received...oh yeah, he was being sarcastic again.
I also don't know what any of that has to do with the deficit.
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Stealthycat
Footballguy
I don't disagree Trump speaks un-Presidential and unclear and muddles .... he absolutely does. Sometimes I think its intentional for misdirection to the media he hates. Other times, I think he's tired and just muddles things.
The Commish
Footballguy
In this case he was very clear with the words that came out of his mouth. It was quite shocking for two reasons: 1. That it was clear and 2. What he was asking be looked into. I don't disagree with your sentiment here either. However, all these realities do is paint him in a worse light than I was even suggesting. That is to say, these "reasons" don't make the comments better. They make them worse.
fantasycurse42
Footballguy Jr.
I want to clarify what you're saying without putting words in your mouth.
Are you saying he muddles or puts misdirection out in his comments because he hates the media?
jm192
Footballguy
Ha. I had several threads open and was replying without realizing which thread we were in.
In regards to the deficit, it feels like it’s such a large cloud it will never end.
we clearly have to spend money now. But it would be fantastic if we had a surplus and were ready financially for these situations.
jm192
Footballguy
I think a different person would think more before he speaks.
Trump lives for CNN headlines.
sho nuff
Footballguy
Well...it got brought up in here by another...didn't mean to say it was on you for that one...
Definitely in bind now (despite some saying its no big deal). This is why spending and going into the hole on the tax cuts when we did was unwise. It lowers the options now. (
And you and Tim still think that debt service means something.
We close in on issuing the first of many Trillion Dollar coins. This is your side spearheading it too.
https://www.forbes.com/sites/ryanguina/2020/04/23/1-trillion-coins-digital-us-dollar-us-debit-card-system-covid-19-emergency-may-change-how-americans-spend-money/#743905e6981f
https://www.newsy.com/stories/mint-the-coin-movement-gains-traction-in-coronavirus-economy/
https://qz.com/1839264/heres-why-the-us-can-afford-its-high-priced-coronavirus-rescue/
MMT. Live it, learn it, love it. Stephanie Kelton, an economist at Stony Brook University, has written a forthcoming book called the “Deficit Myth,” whose title neatly sums up her argument that economies with their own currencies don’t need to worry about borrowing money as long as their economies can use the money in useful ways—and there are plenty of useful things to do with money right now.
We close in on issuing the first of many Trillion Dollar coins. This is your side spearheading it too.
https://www.forbes.com/sites/ryanguina/2020/04/23/1-trillion-coins-digital-us-dollar-us-debit-card-system-covid-19-emergency-may-change-how-americans-spend-money/#743905e6981f
https://www.newsy.com/stories/mint-the-coin-movement-gains-traction-in-coronavirus-economy/
https://qz.com/1839264/heres-why-the-us-can-afford-its-high-priced-coronavirus-rescue/
MMT. Live it, learn it, love it. Stephanie Kelton, an economist at Stony Brook University, has written a forthcoming book called the “Deficit Myth,” whose title neatly sums up her argument that economies with their own currencies don’t need to worry about borrowing money as long as their economies can use the money in useful ways—and there are plenty of useful things to do with money right now.
Stealthycat
Footballguy
yes I think Trump does ... every President creates misdirection IMO ... .but Trump does it every day to the degree that's unprecedented and the hate media loves loves LOVES it, its all they can reportfantasycurse42 said:
The Commish
Footballguy
The attempt to rationalize/normalize is one of the more entertaining stages we get to witness in the process. 
sporthenry
Footballguy
I need to read that. Know el-Erian was pimping it. But how is MMT any different than what Law did in France? The only difference I see from a very high level is maybe the USD is the reserve currency so we can get by on that. But that will only last so long.
That' is what you've been taught forever. We are the USA, we run the planet and we are not about to give up that gig. Once you have grasped that, you then can understand that this will go on as long as the rich want it to.
sho nuff
Footballguy
TRUMP SAYS 'COVID REPARATIONS' COMING: US WILL BILL CHINA AT LEAST $160 BILLION.
That's a little low. Here's a bigly idea.
China mints some Trillion $ coins. I think 5 is a realistic # to cover this mess they created. We take ownership of the coins. Place them in the FED. We then print off $5 Trillions dollars in cash and distribute among the people. That's ~ 15000 each. Anyone want to complain?
That's a little low. Here's a bigly idea.
China mints some Trillion $ coins. I think 5 is a realistic # to cover this mess they created. We take ownership of the coins. Place them in the FED. We then print off $5 Trillions dollars in cash and distribute among the people. That's ~ 15000 each. Anyone want to complain?
msommer
Footballguy
Oh Man. I needed a laugh, so thanks for posting that and thanks to Trump for his trumpiness.
Oh, and GLWT
Buffett knows: https://finance.yahoo.com/news/warren-buffett-explains-the-simple-reason-why-the-us-will-never-default-on-its-debt-185105213.html
He understands MMT.
We will never default, the debt will always rise. Conclusion: the debt doesn't matter.
He understands MMT.
We will never default, the debt will always rise. Conclusion: the debt doesn't matter.
BladeRunner
Footballguy
Looks like Mark Cuban is all in on printing $. Print & spend or ya lose it. 
https://finance.yahoo.com/news/mark-cuban-proposes-use-it-or-lose-it-debit-card-as-coronavirus-stimulus-135928871.html
“And so I think we need to do a debit card program where we give money literally to each household and make it 'use it or lose it,' whether it's $1,000, or $1,200, or whatever that number is, every couple of weeks and say, 'You have X number of days to use this debit card, or you lose the money that's been deposited on there,’” said the wealthy investor, who is mulling a presidential run.
$1000 every couple of weeks.
It would be like everyone in the country hit the lotto.
https://finance.yahoo.com/news/mark-cuban-proposes-use-it-or-lose-it-debit-card-as-coronavirus-stimulus-135928871.html
“And so I think we need to do a debit card program where we give money literally to each household and make it 'use it or lose it,' whether it's $1,000, or $1,200, or whatever that number is, every couple of weeks and say, 'You have X number of days to use this debit card, or you lose the money that's been deposited on there,’” said the wealthy investor, who is mulling a presidential run.
$1000 every couple of weeks.
It would be like everyone in the country hit the lotto.Similar threads
