I work in construction, and will be up to about $200,000(the retail, hire a contractor price) into home renovations in two years, which has added about $140,000 in equity. The nice thing about that is that I did $100,000 of that work myself, for nothing, and lucked into getting another $10,000 in free work/materials because a contractor we hired was a complete ****ing idiot. Then there's all the small things. I love cooking, and therefore garden, and once the remodels done and can focus on my garden, should be able to grow about half my own food, particularly the pricey stuff such as herbs. I can then make my own tea, soap, beer, wine, essential oils, and slash my extremely expensive, all organic, grocery bill by 50-75%. My family does DIY birthdays/Christmas, I plan on significantly expanding my garage to add a wood/weld shop, and have solar panels on the roof. When all is said and done on my home, I'll have a set up where I'm able to meet just about all of my basic needs for a comfortable life, and all it really cost me was the interest on the HELOC and my labor. Not to mention that these days you can automate most home crafts, and in 10 years I might have robots working my garden and doing everything else.
I agree with almost everybody who has posted in this thread. It's ridiculous for Republicans to cut taxes, until they halt the deficit spending.
In theory yes, but I'd have to see the specifics. I'll remind you that Clinton and Gore were the last to take the Budget Deficit into the green.
You're right, Eisenhower was the last, FY 1956 and FY 1957 actually decreasing the Federal debt owed.
Wrong. Clinton increased the total debt every year. What he did do was decrease the debt held by the public for a few years - but he did it by driving up the intragovt debt, net result was an increase the total debt. It was a PR scam.
Please provide a reputable link. Doesn't make much sense to me. Revenue and taxes aren't rocket science. Revenue - Expenses = Deficit.
I am all for keeping income tax the way it is but think it is paramount to lower corporate taxes as more US global companies move their financial headquarters overseas which kills jobs here and lowers federal revenue.
https://treasurydirect.gov/NP/debt/...tYear=1993&endMonth=01&endDay=05&endYear=2001 or https://www.whitehouse.gov/omb/budget/Historicals (see table 7) From the tables, you can see the total debt increased every year. In 1999,2000,2001 the debt held by the public decreased but it was because money was "borrowed" from the govt which increased the intragovt debt. Clinton did not balance the budget, or reduce the national debt, or run a surplus. It was a shell game. Total federal debt by year 1993 4,351,044 1994 4,643,307 1995 4,920,586 1996 5,181,465 1997 5,369,206 1998 5,478,189 1999 5,605,523 2000 5,628,700 2001 5,769,881 2002 6,198,401
Yeah I could have kept personal income tax rates as they were but our corporate taxes were too far above the OECD average to make us competitive globally.
Bit obvious in the introduction. The idea that a tax cut will necessarily improve competitiveness is naive.
Well you're not really making an argument, you're stating an opinion. So thank you for your contribution to this topic.
More than enough to encourage them to move their financial headquarters overseas where taxes are lower.
That is amazing considering the legislation hasn't even passed yet. Just think how much your imaginary employer will save if any change is actually made to the tax rate.
Why would proposed tax cuts keeping corporations in country not passed yet affect a past decision based on current tax rates?
Your Greece example is faulty. Back in the day, it was explained to me that the numbers in their budget were wrong, just plain wrong! The collapse wasn't due to running a deficit. The collapse happened because someone made a miscalculation which produced wrong numbers, and then the government over-expanded using wrong information. If the numbers were right there wouldn't have been a problem.
Here's a quick rundown from Wikipedia, I've got to go soon so I can't really go into deep research right now. Greek government-debt crisis - Wikipedia
Your excerpt from Wikipedia has nothing to do with your comment: This has to do with Greek fraud in order to qualify for EU membership