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In case you wondered HOW our debt will be paid

Discussion in 'Politics, Elections & Legislation' started by bigdogtx, Apr 7, 2010.

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  1. bigdogtx

    bigdogtx Well-Known Member

    Aug 5, 2006
    Oh, yeah,,,,europe is in "great" shape and should be emulated,,,,20% more on what goods you buy,,,,great idea during a recession....

    Volcker: Taxes likely to rise eventually to tame deficit

    Tue Apr 6, 2010 7:57pm EDT

    NEW YORK (Reuters) - The United States should consider raising taxes to help bring deficits under control and may need to consider a European-style value-added tax, White House adviser Paul Volcker said on Tuesday.

    Volcker, answering a question from the audience at a New York Historical Society event, said the value-added tax "was not as toxic an idea" as it has been in the past and also said a carbon or other energy-related tax may become necessary.

    Though he acknowledged that both were still unpopular ideas, he said getting entitlement costs and the U.S. budget deficit under control may require such moves. "If at the end of the day we need to raise taxes, we should raise taxes," he said.
  2. Frank C

    Frank C Well-Known Member

    Jan 29, 1998
    When they tax us at 100%, it will STILL not be enough! What a bunch of A$$holes!
  3. crusha

    crusha TS Member

    Jan 29, 1998
    You said it exactly right, Frank.

    When any segment of society is given a blank check payable against the rest...no amount of money will ever be enough.

    It's like saving a drowning person. Any sacred interest group can drag the whole rest of the ship down, if allowed to.
  4. Brian in Oregon

    Brian in Oregon Well-Known Member

    Jan 29, 1998
    Deplorable Bitter Clinger in Liberal La La Land
    I hope the Dems are so stupid they'll actually push for this. It will be the final nail in their political coffins.
  5. recurvyarcher

    recurvyarcher Well-Known Member

    Apr 26, 2006
    There were a LOT of people who wouldn't listen before the election, but several warnings were given about Europe and their free health care and how much their populations were being taxed to fund these extreme socialist ideas. As I said before, there are many people outside of the U.S. who OWE MORE TAX THAN THEY MAKE IN INCOME.
  6. claybustin hoosier 52

    claybustin hoosier 52 Member

    Mar 21, 2007
    So lets model ourselves after Europe. Did these people ever go to school and learn why our fore fathers left europe?

  7. colonel klink

    colonel klink Active Member

    Aug 24, 2006
    47% of the population does not pay any income tax. Gee, I feel so much better now, kinda a warm, fuzzy feeling. Now a VAT tax will sureley be headed our way. Colonel
  8. SeldomShoots

    SeldomShoots Active Member

    Oct 25, 2006
    Kind of general article, and not much in the way of specifics. Seems to me that both sides and been spending way to much. If you spend you better be able to pay for it, or don't spend.

    However, it is my belief that the government both Dems and Reps are always banking on or counting on what they expect to come in as taxes in the future to pay for these long term "phase in" programs. It seems to me that they are heavily relying on the stock market to remain up and counting on (more like gambling on) that the baby boomers retiring over the course of the next 10 to 20 years will be paying taxes on their IRAs and other forms of retirement benefits as they start to receive distributions from said accounts that were funded with untaxed money. I am not sure, but it is likely that the baby boomers will go down in history as the generation who most heavily funded retirement accounts, and there are probably billions if not trillions of dollars that will be distributed and taxed over the next 10 to 20 years. Of course, just because there may be some money there, doesn't mean you have to spend it.

    Unfortuneately, if there are no jobs for the younger generation to be earning income from and paying taxes, the taxes from the IRA distributions won't cover the cost of the programs that have been, are or will be voted in. They need some sharper business men in Washington than what we have seen so far.

    John E.
  9. Big Heap

    Big Heap TS Member

    Jan 29, 1998
    And it came to pass in the Age of Insanity that the people of the land
    called America , having lost their morals, their initiative, and their
    will to defend their liberties, chose as their Supreme Leader that
    person known as "The One."

    He emerged from the vapors with a message that had no meaning; but He
    hypnotized the people telling them, "I am sent to save you." My lack
    of experience, my questionable ethics, my monstrous ego, and my
    association with evil doers are of no consequence. I shall save you
    with hope and Change. Go, therefore, and proclaim throughout the
    land that he who proceeded me is evil, that he has defiled the nation,
    and that all he has built must be destroyed. And the people rejoiced,
    for even though they knew not what "The One" would do, he had promised
    that it was good; and they believed. And "The One" said " We live in
    the greatest country in the world. Help me change everything about it!"
    And the people said, "Hallelujah! Change is good!"

    Then He said, "We are going to tax the rich fat-cats." And the
    people said "Sock it to them!" "And redistribute their wealth." And
    the people said, "Show us the money!" And the he said, "
    redistribution of wealth is good for everybody."
    And Joe the plumber asked, " Are you kidding me? You're going to
    steal my money and give it to the deadbeats??" And "The One"
    ridiculed and taunted him, and Joe's personal records were hacked and publicized.
    One lone reporter asked, "Isn't that Marxist policy?" And she was
    banished from the kingdom!

    Then a citizen asked, "With no foreign relations experience and
    having zero military experience or knowledge, how will you deal with
    radical terrorists?" And "The One" said, "Simple. I shall sit with
    them and talk with them and show them how nice we really are; and they
    will forget that they ever wanted to kill us all!" And the people
    said, "Hallelujah!! We are safe at last, and we can beat our weapons
    into free cars for the people!"

    Then "The One" said "I shall give 95% of you lower taxes." And one,
    lone voice said, "But 40% of us don't pay ANY taxes." So "The One"
    said, "Then I shall give you some of the taxes the fat-cats pay!"
    And the people said, "Hallelujah! Show us the money!"
    Then "The One" said, "I shall tax your Capital Gains when you sell
    your homes!" And the people yawned and the slumping housing market
    collapsed. And He said. "I shall mandate employer-funded health care
    for every worker and raise the minimum wage. And I shall give every
    person unlimited healthcare and medicine and transportation to the
    clinics." And the people said, "Give me some of that!"
    Then he said, "I shall penalize employers who ship jobs overseas."
    And the people said, "Where's my rebate check?"

    Then "The One" said, "I shall bankrupt the coal industry and
    electricity rates will skyrocket!" And the people said, "Coal is
    dirty, coal is evil, no more coal! But we don't care for that part
    about higher electric rates." So "The One" said, Not to worry. If
    your rebate isn't enough to cover your expenses, we shall bail you out.
    Just sign up with the ACORN and you troubles are over!"

    Then He said, "Illegal immigrants feel scorned and slighted. Let's
    grant them amnesty, Social Security, free education, free lunches,
    free medical care, bi-lingual signs and guaranteed housing..." And
    the people said, "Hallelujah!" and they made him king!

    And so it came to pass that employers, facing spiraling costs and
    ever-higher taxes, raised their prices and laid off workers. Others
    simply gave up and went out of business and the economy sank like unto
    a rock dropped from a cliff.
    The bank banking industry was destroyed. Manufacturing slowed to a
    crawl. And more of the people were without a means of support.

    Then "The One" said, "I am the "the One"- The Messiah - and I'm here
    to save you! We shall just print more money so everyone will have
    enough!" But our foreign trading partners said unto Him. "Wait a
    minute. Your dollar is not worth a pile of camel dung! You will have
    to pay more... And "The One" said, "Wait a minute. That is
    unfair!!" And the world said, "Neither are these other idiotic
    programs you have embraced. Lo, you have become a Socialist state and
    a second-rate power. Now you shall play by our rules!"

    And the people cried out, "Alas, alas!! What have we done?" But yea
    verily, it was too late. The people set upon The One and spat upon
    him and stoned him, and his name was dung. And the once mighty nation
    was no more; and the once proud people were without sustenance or
    shelter or hope. And the Change "The One" had given them was as like
    unto a poison that had destroyed them and like a whirlwind that
    consumed all that they had built.

    And the people beat their chests in despair and cried out in anguish,
    "give us back our nation and our pride and our hope!!" But it was too
    late, and their homeland was no more.

    You may think this a fairy tale, but it's not.
    It's happening RIGHT NOW
  10. comp 1

    comp 1 Well-Known Member

    Dec 10, 2006
    I'll gaurantee one thing that when the vat tax is passed,the one's not paying taxes now will get a subsidized check to cover their expenses.

    KEYBEAR Active Member

    Jan 29, 1998
    The Bush Doctrine Good one flincher100 .

    But that is all you have and that is sad (really) . Bush is not the president anymore . (did you know that)

    You see we have a new guy a muslim liberal piece of crap as the leader of the free world . (the hope and change guy remember)

    He unlike you is just plain evil you on the other hand are just really stupid . But thats OK we still love you .
  12. Setterman

    Setterman Well-Known Member

    Feb 12, 2007
    National Health Care, Cap and trade(tax), Value Added Tax, and all while we're in a recession. What is this joker president (and the Dems) thinking?

    Still haven't seen anything that will help create new jobs across the board. Why don't they work on that for a while instead of dreaming up new tax schemes?
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