How are we going to pay for all this shit?

Reagan lowers taxes on higher income and then turns around with the most significant slight of hand ever! He raises the SS/Medicare tax. That is base broadening for sure!

I'm sure you're smart enough to figure out how by cutting taxes on higher wages and increased taxing on all wages under what was it 65k at the time (as that what the SS tax did)?....would create more income inequality. Which it did.

It also skews the budget as lawmakers then use the surplus SS/Medicare as a way to hide the deficits on the discretionary side of the Federal tax aisle. Originally Posted by WTF

I'm glad to see you finally agree with me that SS/Medicare is a Ponzi scheme.

Before Reagan, people were dragging about 3X more out of social security and Medicare than what they put in. And that's after discounting for the time value of money, between when they put the money in and when it came out. Admittedly a lot of that was because of demographics and when when the programs started up. But is that fair?

Now you drag out 30% more than what you put in. Still a good deal for the people who are currently recipients of social security and Medicare

As to the income inequality, yeah, like I said a couple of pages back, you're really not that concerned with deficits. Rather you believe mainly the tax system should be modified to reduce inequality, regardless of whether the changes make us all poorer. And as Lusty Lad more or less said, you appear to think that 1% of the population can be taxed enough to create a Social Democrat paradise. Do you want to get rid of payroll tax contributions and have the 1% pay for retirement and social security too? Or do you think the politicians have the balls to impose higher taxes on American voters of ordinary means? How do you think that will go over? It won't. You implement programs like the Build Back Better bill in the form proposed by Sanders or Biden and you'll just see the national debt continue to spiral upwards. Because 1% of the population, which is already paying 39% of the income tax, doesn't have enough money to pay for everything.

be careful

soon you might find yourself exasperated to no end

having become stuck in an endless cycle to a tar baby of ever changing positions and non sequiturs never addressing one thing you might point out

no repeating of truth or countless times of dispelling his silly notions only to have him move along to something else without recognition of any previous absurdity of his will save you from the endless morass of his fixations Originally Posted by nevergaveitathought

I'm there. Time to go back to my martyrdom in solidarity. Bringing enlightenment to WTF is an impossible task.

I'm glad to see you finally agree with me that SS/Medicare is a Ponzi scheme.

Before Reagan, people were dragging about 3X more out of social security and Medicare than what they put in. And that's after discounting for the time value of money, between when they put the money in and when it came out. Admittedly a lot of that was because of demographics and when when the programs started up. But is that fair?

Now you drag out 30% more than what you put in. Still a good deal for the people who are currently recipients of social security and Medicare

As to the income inequality, yeah, like I said a couple of pages back, you're really not that concerned with deficits. Rather you believe mainly the tax system should be modified to reduce inequality, regardless of whether the changes make us all poorer. And as Lusty Lad more or less said, you appear to think that 1% of the population can be taxed enough to create a Social Democrat paradise. Do you want to get rid of payroll tax contributions and have the 1% pay for retirement and social security too? Or do you think the politicians have the balls to impose higher taxes on American voters of ordinary means? How do you think that will go over? It won't. You implement programs like the Build Back Better bill in the form proposed by Sanders or Biden and you'll just see the national debt continue to spiral upwards. Because 1% of the population, which is already paying 39% of the income tax, doesn't have enough money to pay for everything. Originally Posted by Tiny

You and lustylady just make shit up.

I've posted the actual results of this drumbeat of lower taxes....30 trillion and counting.

I care way more about the deficit than you.

I've pointed out that SS and Medicare haven't caused a penny of debt.

You've sat silent about that fact.

You've sat silent when I pointed out that Reagan broadened his tax base mainly with SS taxes. Which gave the illusion of a balanced budget....which Clinton got undue credit for. Without counting the SS/Medicare surpluses....there was no budget surplus on the discretionary side.

You cats are way ahead of me in micro economics but I understand the macro side because I'm looking at 30 trillion dollar debt.

I have been saying for decades when it started and exactly what the outcome would be. If you lower the taxes of higher income...make up for the majority of that tax loss by raising taxes on the middle class( that is what the SS tax did) then you will increase income inequality. Whether you think that good or bad is indifferent. I'm stating facts. That is wtf happened.

We have been able to cover up this huge shortfall in the discretionary portion of the budget because we ran huge surpluses in SS.

Care to comment on that?

I'm going to have to get you and CM out to eat sometime and like Laffer....I can help explain things on a napkin to you!

I would invite lustylad but I'm not really wanting to meet at a gay bar.

be careful

... morass of his fixations Originally Posted by nevergaveitathought

It's a hooker board...morass is supposed to be the fixation.

Tiny
BANNED


dagnabbit


Tiny got banned. warned him to change his profile days ago. wish he had. now the hammer fell. shit.

... Too right! ... You can't piss-with the Monitours like that.
Shows a lack of respect...

But he's a good mate - like Bambino - and Mr. Chung. And Wynn.
Hopefully it will be a short banishment.

### Salty

Tiny
BANNED
dagnabbit

Tiny got banned. warned him to change his profile days ago. wish he had. now the hammer fell. shit. Originally Posted by The_Waco_Kid

what was on his profile? wasn't paying attention.

what was on his profile? wasn't paying attention. Originally Posted by dilbert firestorm

check yer email

...I've posted the actual results of this drumbeat of lower taxes....30 trillion and counting.... Originally Posted by WTF

But couldn't they spend less money?

I'm glad to see you finally agree with me that SS/Medicare is a Ponzi scheme.
. Originally Posted by Tiny

That is not what at said at all...not even close. You evidently have been listening to bambino economics. Q probably told him SS was a Ponzi scheme.

https://www.ncpssm.org/documents/soc...red%20by%20law.

Unlike a fraudulent secretive Ponzi scheme, Social Security’s finances are transparent to the public, as required by law. Each year Social Security’s actuaries release a detailed report on the system’s finances. Its dedicated funding source – Federal Insurance Contributions Act (FICA) payroll taxes of current workers – are used to pay benefits for current beneficiaries. For years, these taxes more than covered the cost of the benefits, with the surplus (currently, $2.9 trillion) invested in U.S. Treasury securities, widely considered by finance industry professionals and foreign governments as the world’s best and safest investment. The U.S. government has never defaulted on its Treasury security obligations

ponzi scheme

prior entrants (suckers) in the scheme are paid returns with money from new entrants

until it all collapses as the number of members in the scheme and amount of the promised returns exceed any possible hope of contributions from new entrants into the scheme

But couldn't they spend less money? Originally Posted by Why_Yes_I_Do

They could but no Congress member or Senator wants to cut spending to their district or state.

I've asked more than once if our way of government is nimble and pragmatic enough for this new world order.

ponzi scheme

prior entrants (suckers) in the scheme are paid returns with money from new entrants

until it all collapses as the weight and amount of the promised returns exceed any possible hope of contributions from new entrants into the scheme Originally Posted by nevergaveitathought

LOL... you mean like right now? Any idiot expecting Social Security to exist by their retirement in the next 10+ years deserves to be robbed.

I can't wait for the shit show to collapse. There are a lot of Politicians that deserve to hang from the nearest lamp post.

Tiny
BANNED


dagnabbit


Tiny got banned. warned him to change his profile days ago. wish he had. now the hammer fell. shit. Originally Posted by The_Waco_Kid

He was self banned in solidarity and now he is banned for real, in solidarity!

I heard the downgraded Netflux to a sale me yesterday mofo! I tried to tell you to sell that turd in your punchbowl