taxes

[SolaSaint]

We keep hearing that if we go over the fiscal cliff the average family will inherit a 2000 bump in annual taxes. If this means 100 million families pays 2000 extra a year it would generate 2 triilion in ten years. Heck our Govt almost spends that much each year. So it isn't that we don't have enough money, our govt just spends way too much and Obama won't even think of cutting his pet programs to keep his loyal believers happy. We are in trouble unless Obama comes off his hi horse.

I would be willing to lose some of my retirement through Social Security and I'm willing to wait longer for Medicare, is anyone else willing?

 

[Oldtimer]

We keep hearing that if we go over the fiscal cliff the average family will inherit a 2000 bump in annual taxes. If this means 100 million families pays 2000 extra a year it would generate 2 triilion in ten years. Heck our Govt almost spends that much each year. So it isn't that we don't have enough money, our govt just spends way too much and Obama won't even think of cutting his pet programs to keep his loyal believers happy. We are in trouble unless Obama comes off his hi horse.

I would be willing to lose some of my retirement through Social Security and I'm willing to wait longer for Medicare, is anyone else willing?

Whether we go over the "cliff" or not, whether we're willing or not, the end results will be the same. We are in trouble regardless of Obama's position with horses.

I'll be 70 a year before Obama finishes his term in office. Unless our Lord intervenes, 40+ years of "investment" in SS, Medicare, and personal IRAs may not be worth the paper those "securities" were written on.

Somebody's gotta pay the piper.

 

[mont974x4]

It doesn't matter. Whatever he gets Obama will just spend. The chances that it actually going to debt reduction is nil, and it wouldn't make a big difference anyways.

Tax hikes are just a political move and nothing more.

 

[OldRegular]

Over the years there have been a number of studies showing the amount of waste in the Federal Government. The first one I remember was the Grace Commission under President Reagan. I believe Senator Coburn and Senator Rand Paul have both made studies of the amount of waste in the federal Government.

Now noting that the Federal Budget is now in excess of $3,000,000,000,000 dollars or in layman's terms three trillion dollars.

Last night I saw an interview of the Republican Governor of New Mexico, Susana Martinez. On taking office in 2011 she inherited a deficit of $400,000,000 [four hundred million dollars], from democrat Richardson, with a budget of ~$5,000,000,000 [five billion dollars] or about 8%.

Governor Martinez balanced the budget by cutting costs through laying off unneeded employees, deferring purchase of new vehicles, etc!

If she can do it why can't the Federal Government? The simple reason is the Feds don't want to. Perhaps Governor Martinez could do the same for the Federal Government. She might be the Margaret Thatcher for the United States. Who knows? God knows!

 

[billwald]

If the US can reduce the national budget by the person earning median wage paying 6% more taxes, isn't it a good thing?

 

[Revmitchell]

If the US can reduce the national budget by the person earning median wage paying 6% more taxes, isn't it a good thing?

No one, meaning Obama, wants to reduce anything. He wants to be able to spend more. Nothing else.