Moody's Cuts US Rating / Bond Market Collapsing

Revenue last year was 17% of GDP. Over the past 50 years it’s averaged 17.4% of GDP.

 

Starts with the man in the mirror though.
Are you sending Uncle Sam more than you are required to send?

 

Did you mis quote someone else?
I’m no boomer.
It’s hard to believe people think it’s normal to ask others to pay higher taxes to support values and beliefs different from their own.
Blind spot alert.

 

Sounds like something I never said.
Lower spending and release all democrats from their posts.
That is a great starting point.

 

Fair tax works for me

 

But I’d also be fine with a flat tax

 

You strawman much?

I'm not sure that I saw anyone say "keep the entitlements status quo", did you?

Perhaps there are other things to address or include before we jump to the idea that the only entitlement to cut is health insurance for our poorest?

But yes, raising taxes on the highest earners is absolutely a part of the equation.

 

The two biggest areas of spending are SS and Medicare by a very large degree. You have to cut each of those aggressively to make a difference.

Someone earning 500k a year (W-2) currently pays 163k in taxes if they are a Florida resident. There are a lot of variables in that figure but that’s for a single filer. That’s a lot of freaking tax and that isn’t even a high earner.

Taxing the part of your population that pays 90+% of the income tax into oblivion isn’t the answer alone.

 

Not if you exempt the first say 100k in income.

 

Sounds good to me.

Also, you're arguing against yourself. Why are the people you support (not) trying to balance the budget by ignoring those things, while cutting taxes for the rich...... and only enacting throwing our poorest citizens off Medicaid?

 

The U.S. spends 3x what China does on defense spending -- just shy of 17% of the budget. Pretty sure that China knows how their money is spent, yet we cannot get a decent audit from our defense department. It's estimated that half of that budget goes to private contractors, making accountability and oversight even more difficult.

If budget cuts are being made to social services, it makes no sense to keep arbitrarily increasing defense spending.

Putting budget reductions and tax revenues solely on the backs of individual taxpayers while making big cuts to social services never works.

 

I can agree with fair

 

“Trouble has been stirring in the bond market for weeks. On Wednesday, the anxiety spread to the stock market.

Higher government deficits mean potentially elevated government bond issuance to fund the gap between spending and revenue, making some investors uneasy about how much of Washington’s debt Wall Street can absorb.”



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