Taxes (GOP 2017 edition)

[The Big Train]

When are we gonna pay off the deficit now that we are over 26,000?

[K-S-U-Wildcats!]

When are we gonna pay off the deficit now that we are over 26,000?

Sadly, government revenue is at an all time high, but just can’t keep pace with our absurd spending. So let’s figure out how to cut about $600 billion in spending in a bipartisan way.

[Rage Against the McKee]

When are we gonna pay off the deficit now that we are over 26,000?

Sadly, government revenue is at an all time high, but just can’t keep pace with our absurd spending. So let’s figure out how to cut about $600 billion in spending in a bipartisan way.

I think the current plan is to build a wall so we need to cut about $650 billion instead.

[wetwillie]

Take it from the military, that was really easy.

[K-S-U-Wildcats!]

When are we gonna pay off the deficit now that we are over 26,000?

Sadly, government revenue is at an all time high, but just can’t keep pace with our absurd spending. So let’s figure out how to cut about $600 billion in spending in a bipartisan way.

I think the current plan is to build a wall so we need to cut about $650 billion instead.

Here’s a fact that’ll blow your mind. We’re running annual deficits of at least $600 billion and maybe more. Those figures about the wall, whether 20 or 50 billion, are over 10 years. So if you want to increase the spending cut to $602 or $605 billion per year, ok. That doesn’t seem like a super meaningful change. So let’s get to it. I’ll go first. If we’re gonna save real money, we’re gonna have to go where we spend the most money. I’ll trade a 10% reduction in Medicaid for a 10% reduction in military spending. Fair trade? Thats gotta be over 100 billion saved right out the gate! And it might not even amount to a 10% reduction in Medicaid if you cut out the middle man and block grant the funds directly to the states! Ok, who’s ready to join me in the spirit of bipartisanship?

[Rage Against the McKee]

[Phil Titola]

Take it from the military, that was really easy.

Shockingly easy

[star seed 7]

Cut 50% from defense, give all of that to universal healthcare then just chill

[wetwillie]

Bipartisanship is fun

[K-S-U-Wildcats!]

Take it from the military, that was really easy.

Shockingly easy

Disbanding our military (total spending on the military is about $550 billion, less than our annual deficit) doesn't sound very reasonable. I think I could swing a 10% cut in exchange for a 10% cut in Medicaid. Maybe I could go as high as 15%. Ok? So that gets us to about $150 billion.

Next place to save significant cash would be Social Security and Medicare. I would propose that we simply remove those item from the federal budget entirely. Put them in a completely separate budget, paid for exclusively by FICA. Al Gore's "Lock Box." If Al Gore suggested it, I know I can get some bipartisan support for that, right?

[star seed 7]

Can always raise taxes to a reasonable level

[K-S-U-Wildcats!]

Can always raise taxes to a reasonable level

You actually can’t. At least, probably can’t. Over the last 40 years, revenue as a percentage of GDP has hovered remarkably close to 18-19% no matter what our tax rates were. Look it up. You’ll be amazed how steady the line is. There’s only so much revenue you can squeeze out of the economy.

Ok, so if we’re ready to put the “just raise taxes” argument to rest, let’s get back to serious negotiations on what we actually can do to eliminate the deficit: cut spending.

I suggested above that we should move SS and Medicare spending, and FICA tax receipts that are supposed to pay for those programs, into Al Gore’s Lock Box. Do you realize that would save us about 400 billion a year?! That’s roughly amount our spending on these programs currently exceed the tax receipts to pay for them. Granted, we’ll have to figure out how to balance the Al Gore Lock Box, but one problem at time!

Boys, between the Lock Box and a 10% reduction to Medicaid and military, we’ve nearly balanced the federal budget! And we haven’t even touched the EPA or Dept of Education yet!!

Bipartisanship!

[steve dave]

tax religion

[Phil Titola]

Just saw my donations to kstate athletics is no longer deductible.

[Rage Against the McKee]

It's kind of a joke that donations to a university athletic department ever were tax deductible, really.

[K-S-U-Wildcats!]

I mean this with all sincerity. You could put me and Lib7 in a room and if we had to do so, we could hammer out a balanced budget in under an hour.

[wetwillie]

300 billion from military and you can have 300 billion anywhere else you want

[Phil Titola]

It's kind of a joke that donations to a university athletic department ever were tax deductible, really.

Agreed

[Phil Titola]

I mean this with all sincerity. You could put me and Lib7 in a room and if we had to do so, we could hammer out a balanced budget in under an hour.

Because you don't have special interest money constraining you

[K-S-U-Wildcats!]

300 billion from military and you can have 300 billion anywhere else you want

Damn. That's a tempting offer. I could fire half the DC Bureaucracy, disband numerous agencies, and cut a little less from SS and Medicare. And all I'd risk is complete annihilation of the United States.

[wetwillie]

Would still give us as much as U.K. Russia and China combined so I think you can probably drop the annihilation straw man

[mocat]

Would still give us as much as U.K. Russia and China combined so I think you can probably drop the annihilation straw man

yeah but those countries don't have a giant target on their back wetwillie

[catastrophe]

When are we gonna pay off the deficit now that we are over 26,000?

Sadly, government revenue is at an all time high, but just can’t keep pace with our absurd spending. So let’s figure out how to cut about $600 billion in spending in a bipartisan way.

Why would we need bipartisanship when Republicans just cut taxes and tried to dismantle healthcare under the guise of budget reconciliation already?  Oh, that's right, because Republicans suddenly don't give a crap about spending.

[steve dave]

Tax religion


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[wetwillie]

Tax religion


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You can only squeeze so much revenue out of an economy Steve