BoatBanter.com - View Single Post

Harryk

wrote:
On Mon, 16 May 2011 13:03:50 -0500, Boating All Out
wrote:

In ,
says...
On Mon, 16 May 2011 09:35:01 -0500, Boating All Out
wrote:

Do you see any other tree to bark up?
Raising taxes is such a pair of dirty words neither party will say it
and you have so many people on Plume's denial that nobody really even
cares. S&P tried to warn us that these bonds may be in peril and they
got shouted down. The next warning will come from the auction when
people start passing on the first couple of rounds and those interest
rates start rising. I think this could be one of those "tipping point"
things. The worse it gets, the worse it will get.
I'm going from barking to climbing.
There will 2 trees to climb when the flood waters come.
The tax tree and the reduced spending tree.
It's obvious.
Some trees are loaded up with people and offer no refuge.
The SS tree and the Medicare tree.
Those are essential to a working society.
The tax tree will probably sprout automatically when the Bush tax cuts
REALLY expire. Thats what, $4T over 10 years?

You get $3.7 B over 10 years if they all were repealed, as they should
be. The "rich guy" tax is only $70B a year assuming they can't use tax
avoidance strategies to duck some of it Unfortunately it is easier for
millionaires to dodge taxes than regular folks who make most of their
money in a W-2 so I question the estimate.
That could happen tomorrow if the congress had the will and it would
have happened if they just had the balls to do nothing earlier this
year.

Beats by far any Dem or Rep proposal.
You cut Medicare spending by reining in costs.
That's fraud and overpayment to the already socialized medical industry.
I've seen statistics that 60% of all medical costs are government paid.
So the gov has clout if they have the balls to use it.
No need to reduce medical care for seniors, but give the socialized
medical industry a haircut.

I;m OK with making that happen but not confident we ever will.

It's a tough one, but doable, especially if the money runs out.
If the health care bill isn't repealed there will be a natural
transition to a European model of health care, which will be more
competitive than the current U.S. system and lower costs.
You get rid of all the socialist subsidies to all industries except new
energy technologies.

That sounds great as a bumper sticker but most of these "subsidies"
are just tax deductions virtually all companies take. A questionable
one is the "oil depletion allowance". That basically pays oil
companies to pull oil out of the ground now instead of letting it sit
there and increase in value. The country might be better off keeping
that oil in reserve but we are always "give it to us now" people.

Cut defense spending.

And the choir says amen but we would have to cut back on our foreign
adventures and it would result in a decline in the aerospace industry.
That is why the congress fights for programs that even the Pentagon
says they do not want. The industry is smart enough to be sure any big
program spans several powerful states.

It's important that the current political gridlock continues.
Otherwise the Dems won't raise taxes enough with that stupid $250k
income limit, or the Reps will cut taxes even more and totally bury us
as they did pre-Obama.
I want them fighting so much they can't make a deal on extending the tax
cuts. Right there is $4T.
The best example of pure stupidity I've ever seen is extending those
Bush tax cuts.
Then they all whine about debt.
Never saw so many morons in one place as in DC.
Cocksuckers.

That is a pretty good analysis of the place.
Palin only made one mistake. She should have run for the Senate seat
and blown off that VP job. She is a perfect fit for congress and
nobody seems to care how dumb they are.

We'd be in the group of "over $250k" and have no objection to a
substantial and progressive federal income tax increase for those in our
category. We want it tiered, though. If we get a 10% federal tax
increase, those making a million should have a 20% tax increase.
Further, no matter how that income is derived, there should be a minimal
tax for millionaires. Oh...and no tax breaks for corporations other than
those obtained for capital purchases and hiring in this country. No
depreciation allowance for goods mostly manufactured overseas, except
for Canada and Mexico. Exporting capital overseas? 50% tax penalty on
the liquid assets moved.