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Thread: Expect higher taxes in the coming years

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    Expect higher taxes in the coming years

    Expect higher taxes in the coming years

    Both at the federal, state and local levels. We have too many government handout programs and many politicians want to create more massively expensive handout programs. But when they do raise taxes, the economy will contract, so it is very possible federal revenues will drop rather than rise.

    As I have always said, it is the spending, stupid.

    KEY POINTS

    • Dalio says that the national debt, pension liabilities and health-care liabilities will ultimately have to result in higher taxes.
    • The debt and social program “will either be paid by higher taxes or they’ll be not paid and defaulted on,” he said. “I don’t think they will be defaulted on.”
    • The warnings about potential debt hazards come as the total fe


    Read the article at the link.
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    Quote Originally Posted by Peter1469 View Post
    Expect higher taxes in the coming years

    Both at the federal, state and local levels. We have too many government handout programs and many politicians want to create more massively expensive handout programs. But when they do raise taxes, the economy will contract, so it is very possible federal revenues will drop rather than rise.

    As I have always said, it is the spending, stupid.



    Read the article at the link.
    No mention of Cheeto Jesus spending us into near record deficits? While the economy is supposedly good? You know, the time when traditionally we pay those down a bit?
    "Everybody knew".

    Ambassador Gordon Sonland, 11/20/2019.

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    Quote Originally Posted by Crepitus View Post
    No mention of Cheeto Jesus spending us into near record deficits? While the economy is supposedly good?
    I have discussed the failure of the GOP and Trump with regards to deficit spending elsewhere. This article is about future tax increases to cover the reckless social welfare program creation and spending. Not ever thread and post needs to tangent into Orange Man bad.

    Quote Originally Posted by Crepitus View Post

    You know, the time when traditionally we pay those down a bit?
    You do not "pay down" a deficit. You budget to spend equal to or lower than federal revenue.

    If you were referring to the debt rather than the deficit, you can not pay it down while you are using deficit spending year after year.
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    Much worse that social welfare is the spending on war.
    We are all brothers and sisters in humanity. We are all made from the same dust of stars. We cannot be separated because all life is interconnected.

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    Quote Originally Posted by Just AnotherPerson View Post
    Much worse that social welfare is the spending on war.
    Not in $$. What we have spent on the military and wars is a drop in the bucket compared to social welfare and entitlement spending.
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    Quote Originally Posted by Peter1469 View Post
    Not in $$. What we have spent on the military and wars is a drop in the bucket compared to social welfare and entitlement spending.
    The largest part of discretionary spending, however, is for the military, at 54%. This is where contention arises.





    I interpret "discretionary" as meaning easiest to slash, and you have to wonder how much is just industrial and corporate welfare under false cover of the flag.

    IMHO, extreme high tech weapons -- naval laser weapons and so forth -- need to be critically evaluated in this context with a view toward eliminating them.
    Last edited by Lummy; 11-07-2019 at 09:54 AM.
    Congratulations to our President Trump on taking out top ISIS terrorist Abu Bakr al-Baghdadi!

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    Quote Originally Posted by Peter1469 View Post
    Not in $$. What we have spent on the military and wars is a drop in the bucket compared to social welfare and entitlement spending.
    The largest part of discretionary spending, however, is for the military, at 54%. This is where contention arises.





    I interpret "discretionary" as meaning easiest to slash, and you have to wonder how much is just industrial and corporate welfare.

    IMHO, extreme high tech weapons -- naval and space laser weapons and so forth -- need to be critically evaluated in this context with a view toward eliminating them.
    Congratulations to our President Trump on taking out top ISIS terrorist Abu Bakr al-Baghdadi!

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    Also, health care spending should be scaled back bigly, in my opinion.
    Congratulations to our President Trump on taking out top ISIS terrorist Abu Bakr al-Baghdadi!

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    Quote Originally Posted by Peter1469 View Post
    Not in $$. What we have spent on the military and wars is a drop in the bucket compared to social welfare and entitlement spending.
    Trump2020Budget-ic-3-17-2019.jpg
    We are all brothers and sisters in humanity. We are all made from the same dust of stars. We cannot be separated because all life is interconnected.

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    Quote Originally Posted by Lummy View Post
    Also, health care spending should be scaled back bigly, in my opinion.
    So should American waistlines which are partly to blame for medical costs.
    Whoever criticizes capitalism, while approving immigration, whose working class is its first victim, had better shut up. Whoever criticizes immigration, while remaining silent about capitalism, should do the same.


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