Originally Posted by Guest

Who told China to buy US treasuries to join the club? We did. The World Bank, the International Monetary Fund, the Bank of International Settlements.

Japan holds a lot because of WWII, part of the agreement. Saudi Arabia does too, because WE developed their oil fields, part of the deal. We got petrodollars too...free money out of the ground!

We, the Fed, determine the rates and the value of the dollar, not some piddly country smaller than many states. China is being used for it's cheap labor. China isn't "really" in the big boys club, wrong race. They're being played too.

More taxes? You mean $1.2 trillion in new taxes? That's what we borrow every year. That's $3500 in new taxes for EVERY man woman and child, a family of 4 would pay $14,000 in new taxes every year.

Let that sink into your head, EVERY year, the government borrowing is making a family of fours share $14,000. Each family of 4 would have to pay $14,000 more a year to balance the budget. Government pays half a $ trillion a year in interest payments ($500,000,000,000). Interest rates are artificially low due to printed money to keep the debt interest serviceable.

You ARE right about one thing, the corporations DO run everything...and I do mean everything.

Corporations don't pay tax, their customers do. Raise their tax, the price goes up. You pay more. Nothing is free. You gonna add that to the $14,000 for balancing the budget? This whole recovery is fake, it's the result of spending almost $10 trillion, going $10 trillion deeper in debt.

Your 1.2 trillion is a little high , but in the ballpark.
https://www.nationalpriorities.org/b...-101/spending/

Here is a breakdown of the 2015 budget. https://www.nationalpriorities.org/b...-101/spending/

Social Security, and Medicare make up 2.25 trillion of the total budget of 3. trillion. They are considered Mandatory spending. Untouchable? When you add in military spending 609 billion, and the interest on debt 229 billion, you get 3.1 trillion of the total of 3.8 trillion. What are you going to cut? What about the off the budget items that were 244 billion in 2014? Are you going to cut that too from the budget also?

You are making an assumption that the tax increase will be spread equally among all families, which won't be the case. People that can afford it the most will pay more of the increase.

The second assumption is that corporations will pass along their tax increase to their customers. If people can't afford the products corporations are selling at the higher price, they won't buy it.

You can't increase taxes to cover the entire deficit. You are going to have to cut federal spending. You are also going to have to make changes in Social Security, and Medicare. These changes will be based on need. If people don't need it. They don't get it.

If the economy does better, people will do better. That is not the case, if corporations are doing everything to avoid paying taxes. Couple this with corporations with workers in the US not getting increasing wages, because they are doing better.

How would you get rid of the 1+ trillion dollar deficit per year?

Originally Posted by Guest

Your 1.2 trillion is a little high , but in the ballpark.
https://www.nationalpriorities.org/b...-101/spending/

Here is a breakdown of the 2015 budget. https://www.nationalpriorities.org/b...-101/spending/

Social Security, and Medicare make up 2.25 trillion of the total budget of 3. trillion. They are considered Mandatory spending. Untouchable? When you add in military spending 609 billion, and the interest on debt 229 billion, you get 3.1 trillion of the total of 3.8 trillion. What are you going to cut? What about the off the budget items that were 244 billion in 2014? Are you going to cut that too from the budget also?

You are making an assumption that the tax increase will be spread equally among all families, which won't be the case. People that can afford it the most will pay more of the increase.

The second assumption is that corporations will pass along their tax increase to their customers. If people can't afford the products corporations are selling at the higher price, they won't buy it.

You can't increase taxes to cover the entire deficit. You are going to have to cut federal spending. You are also going to have to make changes in Social Security, and Medicare. These changes will be based on need. If people don't need it. They don't get it.

If the economy does better, people will do better. That is not the case, if corporations are doing everything to avoid paying taxes. Couple this with corporations with workers in the US not getting increasing wages, because they are doing better.

How would you get rid of the 1+ trillion dollar deficit per year?

If you are going to deny SS or Medicare to anyone, I believe you will have to pass another bill/law. Right now, SS is a right. I don't care about Medicare because I have full private health insurance. Medicare A which I have and have never used, is just for hospitalization. I didn't opt in for Medicare "B" because I did not see why I should have them charge me another hundred bucks for something I didn't intend to use when I have full coverage private insurance. Personally, I could see them taking Medicare away from us that have private insurance, since it isn't used anyway. It is a shame that we work for 45 years or so, paying into SS and Medicare and then folks think that we don't deserve it because we have too much. I never did care much for income redistribution. Even in socialist countries, everyone gets their retirement pension. Just my thoughts on that part of the comment.

Originally Posted by Guest

If you are going to deny SS or Medicare to anyone, I believe you will have to pass another bill/law. Right now, SS is a right. I don't care about Medicare because I have full private health insurance. Medicare A which I have and have never used, is just for hospitalization. I didn't opt in for Medicare "B" because I did not see why I should have them charge me another hundred bucks for something I didn't intend to use when I have full coverage private insurance. Personally, I could see them taking Medicare away from us that have private insurance, since it isn't used anyway. It is a shame that we work for 45 years or so, paying into SS and Medicare and then folks think that we don't deserve it because we have too much. I never did care much for income redistribution. Even in socialist countries, everyone gets their retirement pension. Just my thoughts on that part of the comment.

If they didn't pay in they don't get it. If the government and other bleeding heart, minority, special interest groups decide to hand out freebie cash and support....call it something else and keep the SS benefit ONLY FOR THOSE WHO EARNED IT!!!

Originally Posted by Guest

If you are going to deny SS or Medicare to anyone, I believe you will have to pass another bill/law. Right now, SS is a right. I don't care about Medicare because I have full private health insurance. Medicare A which I have and have never used, is just for hospitalization. I didn't opt in for Medicare "B" because I did not see why I should have them charge me another hundred bucks for something I didn't intend to use when I have full coverage private insurance. Personally, I could see them taking Medicare away from us that have private insurance, since it isn't used anyway. It is a shame that we work for 45 years or so, paying into SS and Medicare and then folks think that we don't deserve it because we have too much. I never did care much for income redistribution. Even in socialist countries, everyone gets their retirement pension. Just my thoughts on that part of the comment.

They will have to pass a bill, if they want to change SS as it is now. The problem with your reasoning is that we paid for SS; therefore, we are entitled to it. We are as the law is written. However, we were paying for people that were on SS. Most of funds paid by us wasn't put aside for us. The unused funds were invest in Treasury bonds. So, there is something there, if the money being collected can't pay for the money being paid out.

They can change the law to read anything they want. Of course, the new law would have to be passed by both Houses of Congress, and signed by the president. I can guarantee you that your total net worth would be in the millions, when the new law stops paying you. I can't feel sorry for these people, because they probably benefitted from the tax laws as written to accumulate their wealth.