Jump to content

How are we going to pay for anything!?


dmagicglock

Recommended Posts

Biggest drop in tax revenues since 1932!? Yet we're trying to pass billions of dollars in government programs!?

heard about this on talk radio today but its not making a lot of shockwaves in the mainstream media hmmm?

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/03/BUAL1939IG.DTL&type=business

"The recession is starving the government of tax revenue, just as the president and Congress are piling a major expansion of health care and other programs on the nation's plate and struggling to find money to pay the tab.

The numbers could hardly be more stark: Tax receipts are on pace to drop 18 percent this year, the biggest single-year decline since the Great Depression, while the federal deficit balloons to a record $1.8 trillion.

Other figures in an Associated Press analysis underscore the recession's impact: Individual income tax receipts are down 22 percent from a year ago. Corporate income taxes are down 57 percent. Social Security tax receipts could drop for only the second time since 1940, and Medicare taxes are on pace to drop for only the third time.

The last time the government's revenues were this bleak, it was 1932.

"Our tax system is already inadequate to support the promises our government has made," said Eugene Steuerle, a former Treasury Department official in the Reagan administration who is now vice president of the Peter G. Peterson Foundation.

"This just adds to the problem."

While much of Washington is focused on how to pay for new programs such as overhauling health care - at a cost of $1 trillion over the next decade - existing programs are feeling the pinch, too.

Social Security is in danger of running out of money earlier than the government projected just a few months ago. Highway, mass transit and airport projects are at risk because fuel and industry taxes are declining.

The national debt already exceeds $11 trillion. And bills just completed by the House would boost domestic agencies' spending by 11 percent in 2010 and military spending by 4 percent.

Is there a way out of the financial mess?

A key factor is the economy's health. The future of current programs - not to mention the new ones Obama is proposing - will depend largely on how fast the economy recovers from the recession, said William Gale, co-director of the Tax Policy Center.

"The numbers for 2009 are striking, head-snapping. But what really matters is what happens next," he said. "If it's just one year, then it's a remarkable thing, but it's totally manageable. If the economy doesn't recover soon, it doesn't matter what your social, economic and political agenda is. There's not going to be any revenue to pay for it."

Link to comment
Share on other sites

I imagine we will just raise taxes on everyone like California has done.... and each time they have done this, their total revenue has gone down.

Thats what liberals never get....... they think they can keep on taxing and people will keep right on being being as productive as ever..... the reality is if people cant see enough profit margin in their ideas or their work..... they wont bother with it. At some point, China is going to cut us off and then we will really see what a depression is!!!

Link to comment
Share on other sites

speaking of change....

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/watch?v=Mzc8vS-ac-g&color1=0xb1b1b1&color2=0xcfcfcf&feature=player_embedded&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/watch?v=Mzc8vS-ac-g&color1=0xb1b1b1&color2=0xcfcfcf&feature=player_embedded&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="425" height="344"></embed></object>

Fail :lol:

Link to comment
Share on other sites

I would think that you would be happy about cutting Medicare and welfare. For someone who so vociferously opposes universal healthcare, why do you support not cutting welfare, the biggest handout of them all, and Medicare, basically taxpayer (you, remember?) subsidized healthcare for the elderly?

Link to comment
Share on other sites

I would think that you would be happy about cutting Medicare and welfare. For someone who so vociferously opposes universal healthcare, why do you support not cutting welfare, the biggest handout of them all, and Medicare, basically taxpayer (you, remember?) subsidized healthcare for the elderly?

thats what I'm saying! we had a balanced budget by making cutbacks, especially in those areas. Where now we're spending ALOT in those areas (or trying to). I was just saying it was maybe another reason we should stray away from more handouts.

I feel like democrats always want to talk about how they had a balance budget when clinton was in office, and they also want to talk about how great medicare, welfare, universal healthcare is as well, but fail to recognize they achieved their balanced budget by making concessions on the things they use to get elected.

Link to comment
Share on other sites

thats what I'm saying! we had a balanced budget by making cutbacks, especially in those areas. Where now we're spending ALOT in those areas (or trying to). I was just saying it was maybe another reason we should stray away from more handouts.

I feel like democrats always want to talk about how they had a balance budget when clinton was in office, and they also want to talk about how great medicare, welfare, universal healthcare is as well, but fail to recognize they achieved their balanced budget by making concessions on the things they use to get elected.

Nice ninja. First off:

I was just saying it was maybe another reason we should stray away from more handouts.

sminigo1.jpeg

This phrase you keep using, I don't think it means what you think it means.

Welfare is a handout. Actually, welfare is the DEFINITION of a handout. You the recipient get cash money for doing absolutely nothing. Let me make myself excruciatingly clear here, I am against government welfare. I'm sure I'm just as much a fan pf personal responsibility as you are, and programs like this just fuel the entitlement society and promptly need to go the fuck away.

Medicare is not a handout, it's a benefit. These people paid into the system, now they are getting the benefits once they reach a certain age.

Universal healthcare is not a handout, it's also a benefit as Medicare is. You being for one and against another is the height of cognitive dissonance.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...