Talk of The Villages Florida - View Single Post - Global markets, your investment thoughts
View Single Post
 
Old 06-12-2025, 04:19 AM
MandoMan MandoMan is offline
Platinum member
Join Date: Feb 2020
Location: Tierra del Sol
Posts: 1,905
Thanks: 2,527
Thanked 2,149 Times in 930 Posts
Default

Quote:
Originally Posted by Stu from NYC View Post
Hopefully this will push or govt into bringing budget into balance even a surplus to being bringing down the debt.
The proposed budget could be balanced or close to it were it not that it provides lots of tax cuts we can afford only by borrowing. As a retired person who doesn’t count on Social Security, I’ll get several thousand dollars more per year, but it’s all deficit spending. The tax cuts fulfill campaign promises and curry votes, but they aren’t good for the country in the long term. What’s good for the country is those who have a lot paying more taxes and lowering the deficit and the national debt. Lowering the value of the dollar could be very good for us if people overseas were buying what we make, but now a lot of people overseas are angry at us and not buying what we make. We could have solved the Social Security problem years ago by simply raising the withholding tax by 1%, but who want to run on the platform of raising taxes?