User Tag List

+ Reply to Thread
Page 1 of 2 12 LastLast
Results 1 to 10 of 12

Thread: Are Stupid Laws Driving the Deficit?

  1. #1
    Points: 13,095, Level: 27
    Level completed: 50%, Points required for next Level: 455
    Overall activity: 0%
    Achievements:
    10000 Experience PointsVeteran
    Taxcutter's Avatar Senior Member
    Karma
    926
    Join Date
    Sep 2012
    Posts
    770
    Points
    13,095
    Level
    27
    Thanks Given
    2
    Thanked 203x in 143 Posts
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)

    Are Stupid Laws Driving the Deficit?

    Out-of-date.? Duplicative? Contradictory? Bone-headed in the first place?

    Yup. All of that and more.

    http://www.thefiscaltimes.com/Column...ing.aspx#page1

    Do we really need raisin price controls?

    I say: Don’t trim them back. Eliminate them all. If there is a need to put a few back that can be discussed.

    Quote:
    “…we are the only developed country that does not have a system to clean up laws.”

    “Taxpayers are still supporting the 1,000 employees and $578 million budget of the Rural Utilities Service, originally founded to make sure Americans living in the sticks had access to electricity.”

    “…the Davis Bacon Act of 1931, enacted to boost depressed wages during the Great Depression. Today, requirements of that bill force our beleaguered federal government to systematically overpay contractors. “

    “Look at the Special Ed bill,” says Howard. “No one ever intended when that bill passed in the 1970s for special ed to consume over 20 percent of our K-12 budgets for the tiny percentage that needs special help.”




    Taxcutter to conservatives:
    Leave the entitlements for now. Don’t waste limited political capital trying to trim these programs even though they are where the big money is. Get a start by making Hussein Obama defend all these boneheaded old laws. Do Democrats really want to go to the mat for a law passed under Herbert Hoover?

    Get rid of a couple hundred billion dollars a year of this antiquated trash. That by itself will generate political capital necessary for the really heavy lifting.

  2. The Following User Says Thank You to Taxcutter For This Useful Post:

    MisterVeritis (01-14-2018)

  3. #2
    Points: 1,416, Level: 8
    Level completed: 56%, Points required for next Level: 134
    Overall activity: 1.0%
    Achievements:
    1000 Experience Points7 days registered
    TNHarley's Avatar Senior Member
    Karma
    275
    Join Date
    Mar 2013
    Posts
    314
    Points
    1,416
    Level
    8
    Thanks Given
    114
    Thanked 44x in 34 Posts
    Mentioned
    5 Post(s)
    Tagged
    0 Thread(s)
    I do agree mostly..
    Some laws need to stay inacted
    Glass-Steagall Act of 33'(?) for example
    I blame a HUGE chunk of our current collapse on the GLBD

  4. #3
    Points: 2,679, Level: 12
    Level completed: 8%, Points required for next Level: 371
    Overall activity: 26.0%
    Achievements:
    1000 Experience Points3 months registered
    simpsonofpg's Avatar Senior Member
    Karma
    434
    Join Date
    Jan 2013
    Posts
    859
    Points
    2,679
    Level
    12
    Thanks Given
    99
    Thanked 111x in 93 Posts
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    Since congress makes the laws, the answer to your question is Yes the laws are stupid.

  5. #4
    Original Ranter
    Points: 467,164, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 99.9%
    Achievements:
    SocialCreated Album picturesOverdrive50000 Experience PointsVeteran
    Awards:
    Posting Award
    Peter1469's Avatar Advisor
    Karma
    413876
    Join Date
    Jun 2011
    Location
    NOVA
    Posts
    142,896
    Points
    467,164
    Level
    100
    Thanks Given
    82,210
    Thanked 64,849x in 44,304 Posts
    Mentioned
    2159 Post(s)
    Tagged
    0 Thread(s)
    When you spend ~$1.3T more per year than you take in tax revenue, the source of the deficit is not a mystery.

  6. #5
    Points: 97,547, Level: 76
    Level completed: 8%, Points required for next Level: 2,403
    Overall activity: 0%
    Achievements:
    SocialRecommendation First Class50000 Experience Points1 year registered
    jillian's Avatar Senior Member
    Karma
    53535
    Join Date
    Apr 2013
    Posts
    12,432
    Points
    97,547
    Level
    76
    Thanks Given
    2,229
    Thanked 2,058x in 1,737 Posts
    Mentioned
    421 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Peter1469 View Post
    When you spend ~$1.3T more per year than you take in tax revenue, the source of the deficit is not a mystery.
    well, you run out of money when you cut taxes for the top 1% and then run two wars of choice on china's dime. bush was the first leader in recorded history to do something that stupid. but that doesn't make it reasonable for the right to turn around and the say everything that matters to the people on the other side of the aisle needs to be cut to make up for their stupidity while they still run their military...

    but anyway, that aside... we actually have been starting to run a surplus. (which, no is not the same thing as what we still owe in terms of our debt)

    fox very quietly posted this in february(just for the people who only believe rightwing blogs/news) since then there's been another surplus... i just can't find the article right now and have to get ready for work.

    The federal government reported a rare surplus for January and is on track to run its smallest annual budget deficit since President Obama took office.The Treasury Department said Tuesday that the government took in a surplus of $2.9 billion in January. That's the first monthly surplus since April, a month that benefited from income tax payments.

    Read more: http://www.foxnews.com/politics/2013...#ixzz2ZOdNgp53

  7. #6
    Points: 13,095, Level: 27
    Level completed: 50%, Points required for next Level: 455
    Overall activity: 0%
    Achievements:
    10000 Experience PointsVeteran
    Taxcutter's Avatar Senior Member
    Karma
    926
    Join Date
    Sep 2012
    Posts
    770
    Points
    13,095
    Level
    27
    Thanks Given
    2
    Thanked 203x in 143 Posts
    Mentioned
    1 Post(s)
    Tagged
    0 Thread(s)
    There are easily hundreds of money-wasting laws that could be repealed and nobody would ever notice except those getting fat ooff them.

  8. #7
    Points: 30,168, Level: 42
    Level completed: 37%, Points required for next Level: 882
    Overall activity: 28.0%
    Achievements:
    VeteranTagger First Class25000 Experience PointsSocial
    waltky's Avatar Senior Member
    Karma
    5443
    Join Date
    Oct 2012
    Posts
    8,495
    Points
    30,168
    Level
    42
    Thanks Given
    2,092
    Thanked 1,920x in 1,465 Posts
    Mentioned
    46 Post(s)
    Tagged
    0 Thread(s)

    Angry

    Granny says is `cause dem politicians is spendin' more money dan dey takin' in...

    Feds Collect Record Income Taxes Through December; Still Run $225 Billion Deficit
    January 12, 2018 | The federal government collected record individual-income-tax revenues through the first quarter of fiscal 2018 (October through December), according to the new Monthly Treasury Statement. This was the last quarter before the new tax-cut law signed by President Donald Trump on Dec. 22 took effect.
    Despite taking in record individual-income-tax revenues, the federal government ran a deficit of approximately $225 billion during the quarter. The Treasury collected a record $390,847,000,000 in individual income taxes in October through December, according to the Treasury statement. That was $30,568,380,000 more than the $360,278,620,000 that the Treasury collected (in constant December 2017 dollars) in individual income taxes in the first quarter of fiscal 2017 (which ran from October through December of 2016).


    Fiscal 2016, when the Treasury collected $366,424,140,000 in individual income taxes in the first quarter (in constant December 2017 dollars), now ranks as the No. 2 all-time year for first-quarter individual-income-tax collections. Total tax collections in the first quarter of fiscal 2018 equaled $769,512,000,000. But because the government spent $994,467,000,000 during the quarter, the Treasury ran a deficit of $224,955,000,000.

    The $769,512,000,000 in total tax revenues during the quarter did not set a record for first-quarter total tax collections. It was more than the $756,394,470,000 in total taxes (in constant December 2017 dollars) that the Treasury collected in the first quarter of fiscal 2017, but less than $798,012,340,000 in total taxes (in constant December 2017 dollars) that the Treasury collected in the first quarter of fiscal 2016.


    The $769,512,000,000 in total tax revenues collected in the first quarter of this year included not only the record $390,847,000,000 in individual income taxes, but also $62,052,000,000 in corporate income taxes; $259,165,000,000 in Social Security and other payroll taxes; $19,458,000,000 in excise taxes; $5,258,000,000 in estate and gift taxes; $9,446,000,000 in customs duties; and $23,588,000,000 in miscellaneous government receipts.

    According to the Census Bureau, there were 126,224,000 households in the United States in 2017. The $769,512,000,000 in total taxes collected by the federal government in the first quarter of fiscal 2018 equaled approximately $6,096 per household.

    https://www.cnsnews.com/news/article...-still-run-225
    See also:

    U.S. National Mango Board Runs on $6.7 Million a Year
    January 10, 2018 | The government watchdog group Judicial Watch reported this week that the U.S. Department of Agriculture (USDA) maintains a National Mango Board, which operates on a $6.7 million budget, solely to "increase the consumption of fresh mangos in the United States," according to its USDA website. "This is a serious matter that is handled at the presidential cabinet level," reported Judicial Watch.
    First handlers and importers of 500,000 pounds of fresh mangos each year pay a fee to fund the Board, a cost that is collected by the U.S. Department of Homeland Security's Customs and Border Protection. The Board has 18 members, which includes 8 importers, 2 domestic producers, 1 first handler, and 7 foreign producers, according to its website. The National Mango Board is based in Orlando, Fla.


    In December, Agriculture Secretary Sonny Perdue announced the appointment of six members to serve three-year terms on the National Mango Board. Three were from U.S. states and two were from Mexico and Peru. “I truly appreciate the time and expertise that these individuals have agreed to give guiding the National Mango Board in its mission to find ways to provide fresh mangos to U.S. consumers and help their industry thrive,” said Secretary Perdue.

    Commenting on the Board, Judicial Watch said, "Here’s why this obscure government entity exists; to increase the consumption of fresh mangos in the United States, unlikely to be a pressing issue for most Americans. The board accomplishes this with promotion and market development activities that naturally also support a thriving industry. “'The board’s vision is to bring the world’s love of mangos to the U.S.,' according to the National Mango Board website, which describes itself as a 'promotion and research organization,'" reported Judicial Watch. "The site includes all sorts of interesting information about mangos, including the unique texture and flavors of different varieties, how to ripen, cut and store the fruit and tips on choosing the perfect mango—don’t focus on color because it’s not the best indicator of ripeness," reported Judicial Watch. "There are also recipes for just about any dish with mango, including tropical mango guacamole, shrimp and mango curry, mango Manchego stuffed with jalapeños and crusted pork with mango relish, among others. Six varieties of mangos are sold in the U.S.; Tommy Atkins, Haden, Kent, Keitt, Honey and Francis."




    Judicial Watch continued, "One of the more recent studies sponsored by the board includes an in-depth analysis on the ideal temperature to deliver the highest quality mangos. The findings are delivered in an exhaustive 38-page report, but the nutshell is that the optimal transit temperature for mangos is around 55 degrees Fahrenheit. "The problem however, is that mangos are often transported in refrigerated trailers with other food items that require colder temperatures and the mangos get compromised. The experts in 'perishable food cold chain' hired to research the matter were left with the objective of finding commercially available pallet covers for the thermal protection of mango pallets transported in a mixed load refrigerated trailer. "It’s not clear how much this important research cost the Mango Board. For those wondering, Kent mangos were used in the study and pallet covers were tested with and without a base."

    https://www.cnsnews.com/news/article...7-million-year

  9. #8
    Points: 96,949, Level: 75
    Level completed: 85%, Points required for next Level: 401
    Overall activity: 68.0%
    Achievements:
    50000 Experience PointsSocialVeteran
    donttread's Avatar Senior Member
    Karma
    78331
    Join Date
    Nov 2013
    Posts
    32,505
    Points
    96,949
    Level
    75
    Thanks Given
    4,555
    Thanked 10,296x in 7,741 Posts
    Mentioned
    202 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Taxcutter View Post
    Out-of-date.? Duplicative? Contradictory? Bone-headed in the first place?

    Yup. All of that and more.

    http://www.thefiscaltimes.com/Column...ing.aspx#page1

    Do we really need raisin price controls?

    I say: Don’t trim them back. Eliminate them all. If there is a need to put a few back that can be discussed.

    Quote:
    “…we are the only developed country that does not have a system to clean up laws.”

    “Taxpayers are still supporting the 1,000 employees and $578 million budget of the Rural Utilities Service, originally founded to make sure Americans living in the sticks had access to electricity.”

    “…the Davis Bacon Act of 1931, enacted to boost depressed wages during the Great Depression. Today, requirements of that bill force our beleaguered federal government to systematically overpay contractors. “

    “Look at the Special Ed bill,” says Howard. “No one ever intended when that bill passed in the 1970s for special ed to consume over 20 percent of our K-12 budgets for the tiny percentage that needs special help.”




    Taxcutter to conservatives:
    Leave the entitlements for now. Don’t waste limited political capital trying to trim these programs even though they are where the big money is. Get a start by making Hussein Obama defend all these boneheaded old laws. Do Democrats really want to go to the mat for a law passed under Herbert Hoover?

    Get rid of a couple hundred billion dollars a year of this antiquated trash. That by itself will generate political capital necessary for the really heavy lifting.


    creative payola. That said , congress should delete one law for each one they pass. Each new law limits freedom by telling someone they either must or cannot do something.

  10. #9
    Points: 30,168, Level: 42
    Level completed: 37%, Points required for next Level: 882
    Overall activity: 28.0%
    Achievements:
    VeteranTagger First Class25000 Experience PointsSocial
    waltky's Avatar Senior Member
    Karma
    5443
    Join Date
    Oct 2012
    Posts
    8,495
    Points
    30,168
    Level
    42
    Thanks Given
    2,092
    Thanked 1,920x in 1,465 Posts
    Mentioned
    46 Post(s)
    Tagged
    0 Thread(s)

    Angry

    Granny says it's `cause o' all dem politicians spendin' money we ain't got...

    Feds Collect Record Individual Income Taxes Through August; Still Run $898B Deficit
    September 13, 2018 | The federal government collected a record $1,521,589,000,000 in individual income taxes through the first eleven months of fiscal 2018 (October 2017 through August 2018), according to the Monthly Treasury Statement released today.

    However, the federal government also ran a deficit of $898,112,000,000 for those eleven months, according to the statement. Prior to this year, the record federal individual income tax collections for the first eleven months of the fiscal year occurred last year, when the Treasury collected $1,460,379,260,000 in individual income taxes in constant August 2018 dollars (adjusted using the Bureau of Labor Statistics inflation calculator). Yet even while the federal government was hauling in a record amount in income taxes from individuals, corporation income tax collections and total federal tax collections were declining.





    Real total federal tax collections dropped for the third straight year in the October-August period. In the first eleven months of fiscal 2015, the Treasury hauled in $3,050,571,320,000 in total federal taxes (in constant August 2018 dollars). In the same period in fiscal 2016, it hauled in $3,046,651,360,000 in total federal taxes (in constant August 2018 dollars); in fiscal 2017, it hauled in $3,046,234,320,000 (in constant August 2018 dollars); and in the first eleven months of this fiscal year it hauled in $2,985,186,000,000 in total federal taxes. Corporation income tax collections in the October-August period hit a seven-year low in 2018.





    In fiscal 2011, they were $158,245,000,000 (in constant August 2018 dollars). Then, in fiscal 2012, they climbed to $203,871,620,000 (in constant August 2018 dollars). In fiscal 2013, they were $233,260,680,000; in fiscal 2014, they were $262,055,780,000; in fiscal 2015, they were $283,962,090,000; in fiscal 2016, they were $244,011,550,000; in fiscal 2017, they were $239,937,120,000; and this year, they dropped to $162,551,000,000. The federal government has run a deficit of $882,112,000,000 in the first eleven months of fiscal 2018 because while bringing in $2,985,186,000,000 in total taxes, it turned around and spent $3,883,298,000,000.





    In addition to the $1,521,589,000,000 in individual income taxes and $162,551,000,000 in corporation income taxes that the federal government has collected in the first eleven months of this fiscal year, it has also collected $1,070,777,000,000 in Social Security and other payroll taxes; $78,909,000,000 in excise taxes; $20,693,000,000 in estate and gift taxes; $36,726,000,000 in customs duties; and $93,940,000,00 in miscellaneous receipts.


    https://www.cnsnews.com/news/article...gust-still-run
    Last edited by waltky; 09-13-2018 at 04:51 PM.

  11. #10
    Points: 159,746, Level: 95
    Level completed: 50%, Points required for next Level: 1,904
    Overall activity: 99.7%
    Achievements:
    50000 Experience PointsVeteranOverdrive
    Tahuyaman's Avatar Senior Member
    Karma
    256598
    Join Date
    Dec 2014
    Location
    Bremerton Washington or Sayulita Mexico depending on the time of year.
    Posts
    70,612
    Points
    159,746
    Level
    95
    Thanks Given
    8,087
    Thanked 25,562x in 19,208 Posts
    Mentioned
    380 Post(s)
    Tagged
    0 Thread(s)
    It's not any one spending program which is driving debt higher and higher. When cuts in tax rates result in a 500 billion dollar increase in revenues flowing into government, you can't raise spending by 600 billion dollars and expect debt to decrease.

    It's common sense m

+ Reply to Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts


Critical Acclaim
Single Sign On provided by vBSSO